PRASHANT KUMAR DASH Vs. STATE OF ODISHA

JUDGEMENT

(1.) This common order shall dispose of the mentioned three bail applications arising out of three cases vide G.R. Case No.178 of 2013 corresponding to Titilagarh P.S. Case No.0105 of 2013 on the file of learned S.D.J.M.,Titilagarh registered under Sections 467/468/471/406/420/120-B/34,I.P.C. read with Sections 4/5/6 of the Prize Chits Money Circulation Scheme (Banning) Act,1978 and Section 6 of Odisha Protection of Interest of Depositors (In Financial Establishments) Act,2011; G.R. Case No. 604 of 2013 corresponding to Nabarangpur P.S. Case No.161 of 2013 on the file of learned S.D.J.M., Nabarangpur registered under Sections 467/468/471/406/420/ 120-B/34,I.P.C. read with Sections 4/5/6 of the Prize Chits Money Circulation Scheme (Banning) Act,1978 and G.R. Case No. 573 of 2013 corresponding to Jajpur P.S. Case No.157 of 2013 on the file of learned C.J.M., Jajpur registered under Sections 420/120-B/ 294/506/34,I.P.C and Sections 4, 5 and 6 of the Prize Chits Money Circulation Scheme (Banning) Act,1978 against the present petitioner along with others as accused in all the three cases.

(2.) Three separate cases were registered at Titilagarh Police Station, Nabarangpur Police Station and Jajpur Town Police Station on three F.I.Rs. lodged by separate informants alleging that the Sea-Shore Group of Companies of which the present petitioner was the Managing Director through its sister concerns having its Branch Offices in different places of the State of Odisha, collected money from different persons with assurance of high return within short span of time, but, subsequently the investors found out that they have been cheated. The Sea-Shore Group of Companies was incorporated under the provisions of the Companies Act in the year 2008 but subsequently formed some sister concerns as Multi-purpose Co-operative Society Limited under the statute of Odisha Self Help Co-operative Act, 2001 and the present petitioner happened to be the Managing Director of the Group of Companies and the President of the Cooperative Society. The Company through different public meetings promoted its affair floating lucrative schemes and accepted deposits from general public.

(3.) It was submitted by the learned counsel for the petitioner that for the self-same allegations the petitioner has been implicated as accused in three cases apart from the fact that he was in custody in a case being investigated into by the C.B.I in R.C. No.49/S/2014-SCB/KOL pending on the file of learned Special C.J.M..(C.B.I.), Bhubaneswar for similar allegations of offences. It was submitted that the implication and trial of the accused in the aforesaid three cases is nothing but double jeopardy caused to the petitioner since the allegations in all the cases are not only similar but also same as in the case investigated into by the C.B.I. It may be mentioned here that since allegations of cropping up of different Chit Fund Companies cheating the gullible poor investors came up for consideration before the Hon'ble Apex Court in a Public Interest Litigation, direction was issued in I.A. No.20 in W.P.(Civil) No. 401 of 2013 by the Hon'ble Apex Court to take up the investigation by the C.B.I. against forty four Chit Fund Companies out of which the Seashore Group of Companies was one. Pursuant thereto, a number of cases registered at different Police Stations in which the investigation was taken up as well as completed were taken over by the C.B.I and the matters are being still investigated into awaiting submission of final charge-sheet albeit preliminary charge sheet has been submitted. In these three cases preliminary charge sheets have been submitted on 17.12.2013 , 20.11.2013 and 28.10.2013 respectively keeping the investigation still open. Considering the circumstances, learned counsel for the C.B.I. was asked for a report as to whether the present three cases have been taken over by the C.B.I. for investigation. It was submitted that although Seashore Group of Companies, Sea-Shore Securities Limited and Seamanchal Multipurpose Co-operative Society Limited as involved in the aforesaid three cases are included within the C.B.I investigation still the specific three cases at police stations of Titilagarh, Nabarangpur and Jajpur have not been taken up by the C.B.I for investigation. It is not disputed that the nature of allegations are self-same in all the cases. In the present three cases, preliminary charge-sheets have already been submitted since 2013. It was further submitted by the learned counsel for the petitioner that taking into consideration similar circumstances in respect of three cases registered against the petitioner in the districts of Koraput and Nabarangpur, he has been granted with bail by this Court in three separate bail applications. It was also submitted that the petitioner has been granted with bail by this Court in the case instituted on behalf of the C.B.I as per direction of the Hon'ble Apex Court and that the petitioner has already remained in custody for more than four years and taking into consideration long incarceration of the accused persons without submission of the final charge sheet, the Hon'ble Apex Court has been pleased to grant bail to one of the Directors of the present Company who is also the brother of the present petitioner.