SHASHIKANT SHARMA Vs. STATE OF RAJASTHAN

JUDGEMENT

(1.) Heard the representatives of the petitioner and the State and perused the material available on record.

(2.) This is second bail application presented by the petitioner on the ground that now charge-sheet has been filed. The contention of the representative of the petitioner is that offence is only triable by the Magistrate. Trial will take time. Out of 25 investors, 21 have submitted affidavits in favour of the petitioner. The petitioner was engaged in foreign trading company. He has invested the money and also made payments to the complainants. He has not committed any cheating. S.O.G. has not conducted the investigation fairly. Trading account of the petitioner has not been seen. Petitioner is behind the bars from last about four months. The petitioner is only the bread earning person having two small children and his father and mother are also sick. Initially, the FIR was submitted only on behalf of 15 persons, where names of 25 persons have been mentioned but some of them have not stated anything against petitioner during investigation also. Petitioner has repaid the profit ranging 10% to 15% to the complainant. For the same amount, proceedings u/S.138 of the Negotiable Instruments Act, 1881 have also been initiated. Hence, he be released on bail.

(3.) Per contra, the contention of the representative of the State is that after withdrawal of the first bail application, no new facts have arisen in favour of the petitioner except that charge-sheet has been filed, which also shows involvement of the petitioner that after investigation, a triable case has been found against petitioner. Complainant and other investors have categorically stated that money has been procured from them by persuading that a handsome profit would be given to them but even for a long time, money has not been repaid to them and after investigation, it was found that petitioner has procured INR 2,60,00,000.00 (Rupees Two Crores & Sixty Lacs) out of this fraud.