SWETANGA PATTANAIK Vs. STATE OF ODISHA

JUDGEMENT

(1.) The petitioner Swetanga Pattanaik has filed this application under section 439 of Code of Criminal Procedure seeking for bail in connection with E.O.W., Bhubaneswar P.S. Case No.23 of 2015 corresponding to C.T. Case No.16 of 2015 pending on the file of Presiding Officer, Designated Court, O.P.I.D. Act, Cuttack for offences punishable under sections 420 , 467 , 468 , 471 , 406 read with section 120-B of the Indian Penal Code and section 6 of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011 (hereafter 'O.P.I.D. Act') and sections 4, 5 and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (hereafter '1978 Act').

(2.) The criminal investigative machinery was set into motion on 27.03.2015 with the lodging of the first information report by one Dipak Kumar Baral, Agent and the depositors of Ashirbad Multi Purpose Co-Operative Ltd. before the Inspector in charge of Olatpur Police Station in relation to commission of cognizable offences by the petitioner and others.

(3.) On receipt of the first information report, Olatpur P.S. Case No. 26 of 2015 was registered under sections 420 , 406 , 120-B of Indian Penal Code and section 18 of the O.P.I.D. Act against the petitioner and four others namely Rashmi Ranjan Paikray, Niroj Kumar Das, Subash Srichandan and Sukant Mohapatra.