MUHSEEN HUSAIN Vs. STATE OF HARYANA

JUDGEMENT

(1.) The petitioner seeks grant of regular bail in respect of a case registered against him vide FIR No.106 dtd. 1/8/2017 under Ss. 420 , 467 , 468 , 471 , 120-B of Indian Penal Code, 1860 and under Sec. 3 of the Haryana Protection of Interest of Depositors in Financial Establishment Act, 2013 at Police Station City Sohna, District Gurugram.

(2.) The FIR was lodged on the basis of a complaint dtd. 1/8/2017 submitted by Chanderpal Saini and other investors wherein it has been alleged that the accused had usurped an amount to the tune of Rs.15.0020 crores of the investors and had cheated innocent, gullible investors including the complainant. It has further been alleged that Sanjay Singh Mewara, Chairman of M/s Shree Ram Real Estate and Business Solution Ltd., M/s Ananya Group of Companies, M/s Herbal Fleet, M/s Sai Ram Buildtech, M/s Shree Ram Multiproducer Co. Ltd., M/s Samradiya Group Pvt. Ltd. and Deepak Kumar Dangi, Mohsin, Talib, Mushid Khan, Rajesh Kumar, Ashwinder Singh Jadon, Hans Raj, all Directors of the said company had usurped the amount of investors. It is alleged that in 2012, the accused met the complainant and represented that they will give more interest on the investments made with them than FDs made in Banks and that the money will become double in 5 years 6 months and triple in 6 years and 6 months. Deepak and Mohsin induced them to deposit money and on the basis of assurance of the said Deepak and Mohsin, complainants invested money in their company but when the maturity period was over and complainant sought his matured amount, the accused persons avoided payment of the same and also misbehaved with the complainants. Later, the accused issued some cheques which have been dishonoured. The allegations of cheating, fraud and forgery have thus been raised against the accused by the investors.

(3.) The learned counsel for the petitioner has submitted that the petitioner has falsely been implicated in the present case and that there is no evidence to connect him with the alleged multi-crore fraud. It has been submitted that in fact the petitioner had remained a Director of M/s Shree Ram Multiproducer Co. Ltd. for a short period only and that it is only an amount of about Rs.6.00lacs of investors which can be said to have been credited in the account of the company on account of the alleged inducement made by the petitioner.