JAGBIR SINGH Vs. STATE OF PUNJAB AND ANOTHER

JUDGEMENT

(1.) The complainant-petitioner, namely, Jagbir Singh son of Ajit Singh, filed a complaint dated 23.09.2016 with Police Station Division B, Amritsar, resulting in registration of FIR No.156 dated 30.09.2016, under Sections 406, 420 and 120-B IPC.

(2.) According to the contents of the FIR, the accused persons (including respondent No.2) defrauded the complainant and his family of Rs. 17,25,000/- on the pretext of investing the same and giving huge returns in lieu thereof. Cheques were also issued by way of security on the rear of which it was mentioned that the same were being issued as security against investment made. The complainant was promised a return of Rs. 4,000/- per month and initially the said amount was paid, but after November, 2015, the payment stopped. Even, the principal amount was not returned on demand. A large number of people have been duped by the accused out of whom eleven persons have been identified by the complainant, who have been cheated of an amount of Rs. 97,55,000/-.

(3.) Respondent No. 2 was arrested on 08.02.2017. Vide order dated 14.03.2017 (Annexure P-4), the learned trial Court released him on regular bail on the ground that challan had yet not been presented in Court. Usual conditions were also imposed.