ANISH JANGRA Vs. STATE OF HARYANA

JUDGEMENT

(1.) Second petition has been filed under Section 439 of the Code of Criminal Procedure for grant of bail pending trial to the petitioner in FIR No.0358 dated 08.09.2018, under Sections 420, 406, 467, 468, 471, 120-B of the Indian Penal Code, 1860 (for short 1PC') Sections 4, 5, 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (for short '1978 Act') and Section 3(2) of the Haryana Protection of Interest of Depositors (in Financial Establishment) Act, 2013 (for short '2013 Act), registered at Police Station Sadar Fatehabad, District Fatehabad.

(2.) Allegations against the present petitioner are that he being one of the chief ID promoters and planner of Future Maker Life Care Pvt. Ltd. (hereinafter referred as 'Company'), having its Head Office at D.S.S. 45, Red Square Market, Hisar (Haryana), duped large number of persons to the tune of more than Rs. 2956 Crores. Above FIR was registered on the basis of written complaint made by one Anil Sihag to the effect that Company has appointed various agents throughout country for selling its products and collected crores of rupees in cash by inducing innocent persons, thereby causing loss of tax to the Government running into crores of rupees. Innocent persons are persuaded to invest with this Chit Fund Company and instead of investing the collected amount, the Company indulges in illegal business activities worth crores of rupees on daily basis. The Company is neither having any product; nor any manufacturing unit; rather it has tie-up with other Companies and it does not purchase any goods. The transactions are limited only to papers, which are totally bogus and frivolous. Company receives approximately Rs. 10 crores in cash daily from its agents at Hisar Office without issuing any receipt and throughout the Country, approximately Rs. 40 crores are collected daily by the Company. Upon receipt of cash amount from its agents, Company issues bills for the products after taking IDs, but no product is supplied to them and only the profit is passed on to the agents on the basis of fictitious bills. The Company, after receiving the amount in cash from agents, issues the bill of its products @ Rs. 7500/- per ID and remits the money into their bank accounts as commission.

(3.) Contends that petitioner is in custody since 30.03.2019 and after investigation in the matter, challan qua him has already been presented on 10.05.2019, but charges are yet to be framed. Further contends that petitioner is only an investor and he is neither the promoter; nor Director of the Company; rather himself a victim and falsely implicated by the prosecution on the allegation of being chief promoter. Learned Counsel for the petitioner, after making reference to the report under Section 173 Cr.P.C, contended that there is no material at all with the prosecution regarding the complicity of the petitioner and he is being unnecessarily victimized. Also contends that on account of the pandemic, there is no likelihood to frame the charges in near future and trial is likely to take sufficient long time and as such, further incarceration of the petitioner would not serve any purpose.