(1.) This is first bail application filed by the applicant Naveen Kumar Agarwal under Section 438 of CrPC for grant of anticipatory bail.
(2.) The applicant apprehends his arrest in connection with Crime No.260/2019, registered at P.S. Kolgawan, District Satna under Sections 420, 467 of IPC and Section 6 of Madhya Pradesh Nikshepakon Ke Hiton Ka Sanrakshan Adhiniyam, 2000 (hereinafter referred to as 'the Act of 2000').
(3.) As per the prosecution story, applicant Naveen Kumar Agarwal and other co-accused opened a Society namely Reliable Credit Cooperative Society and assuring the complainant Ravi Shankar Payasi and other persons that on depositing money in the Society they would get double the amount within a certain period and will also get interest on higher rates and collected money from the complainant and other innocent persons. Thereafter he closed down the society office and did not return the amount, and thus, embezzled that amount.