KAMAL L. MOHAPATRA Vs. STATE

JUDGEMENT

(1.) THIS is an application for bail under Section 438 of the Cr.P.C.

(2.) THE petitioner is an accused in G.R. Case No. 1397 of 2013 in the court of the learned S.D.J.M., Sambalpur arising out of I.C.C. Case No. 59 of 2012 corresponding to Dhanupali P.S. Case No. 175 of 2013. The case is registered under Sections 419/420/34 of I.P.C.

(3.) THE petitioner has stated in the bail application that he has been falsely entangled in the criminal case. However, he admits that he is the Managing Director of the Firm and customers invested money with the Firm and they used to get their dividends. Due to loss of its entire capital in share market, in course of time the Firm suffered financial crisis. However, this matter was intimated to the investors in general assuring that the invested capital would be returned within three years. It is contended that the petitioner had no mens rea and that it is due to the financial crisis the Company has failed to repay the invested amount to the investors.