GURJAN SINGH GREWAL Vs. STATE OF HIMACHAL PRADESH

JUDGEMENT

(1.) THIS judgment shall dispose of Cr.M.P.(M) Nos.7 and 8 of 2012 filed by Gurjan Singh Grewal and Sandeep Kumar respectively under Section 438 Cr.P.C. for releasing them on bail in FIR No. 504 dated 29.09.2011, registered at Police Station, Kullu, under Sections 420, 120 -B IPC and Section 5 of the Himachal Pradesh Protection of Interests of Depositors (In Financial Establishments) Act, 1999.

(2.) IT has been stated by the petitioners that the case has been registered on the complaint of one Inderjit Singh alleging therein that he was a member of Company popularly known as 'SOSS' ( Success On Line Service System Private Limited) and invested a sum of Rs. 79,000/ - in the Company. Raman Kumar C.M.D., Rakesh Kumar C.E.O.and local agent cheated him and fled away to Delhi.

(3.) THE Investigating Agency has filed identical status reports in both the cases. It has been stated that case has been registered on the complaint of Inderjit Malik on 29.09.2011. It has come in the investigation that Nikhil Nanda, Sandeep Goldy, Raman Kumar and Rakesh Kumar were the Directors of the Company. In order to mislead the consumers, they prepared bonus scheme. Gurjan Singh Grewal was made Convenor of the Company in Himachal Pradesh. In 2010 Gurjan Singh Grewal and Sandeep Goldy, founders of the Company in Himachal Pradesh, Sita Ram Nair, Jai Dev, opened office of the Company near 'Kala Kender', Kullu. Ms. Meena Rana was appointed Branch Manager in the said Office. The Company was misleading the people that Company is registered with Reserve Bank of India and money invested in the Company would become double. The Company in the beginning paid some amounts to some persons in order to gain faith of the people in the area.