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2022 DIGILAW 431 (MP)

Pawan Khare v. State of Madhya Pradesh

2022-03-14

VIVEK AGARWAL

body2022
JUDGMENT Vivek agarwal, J. - This is first bail application filed under Section 439 of the Code of Criminal Procedure for grant of bail on behalf of the applicant-Pawan Khare, S/o Late Shri Shivshankar Khare, who is in custody since 09/02/2022 in connection with Crime No.121/2022 registered at Police Station Kotwali, Shahdol, District Shahdol (M.P.) for the offences punishable under Sections 406, 409, 420, 120-B of IPC and also under Section 6(1) of M.P. Nikshepkon Ke Hiton Ka Sanrakshan adhiniyam, 2000. It is submitted that applicant was working for Sahara India Real Estate Corporation Limited, Sahara Housing Investment Corporation Limited. The money which was collected by him was deposited with the company. On maturity, money was to be paid by the company and not by the present applicant. It is the company which has defaulted in making payment, therefore, Directors of the company are responsible for their act of default and not present applicant. Learned counsel for the applicant submits that company has already deposited Rs.159 crore before the SEBI for disbursement to the investors. Complainants can lodge their claim and obtain their refund. It is also submitted that applicant is innocent and he has been falsely implicated in the matter. Investigation is completed, charge-sheet is filed. Trial will take time for its conclusion. Hence, prayer is made to enlarge the applicants on bail. Learned Panel Lawyer for the non-applicant/State opposes the bail application and prays for its rejection. Taking the fact into consideration that applicant is willing to cooperate with the complainants to get their dues from the SEBI or the company and undertakes to appear before the trial Court, this Court is of the opinion that it is fit case to enlarge the applicant on bail, therefore, without commenting anything on the merits of the case, this application is allowed. It is directed that applicant shall be released on bail on his furnishing a personal bond in a sum of Rs.50,000/- (Rupees Fifty Thousand Only) with two solvent sureties in the like amount to the satisfaction of the Trial Court concerned for his appearance before the said Court on all such dates as may be fixed in this regard during the pendency of trial. It is further directed that the applicant shall comply with the provisions of Section 437(3) of the Cr.P.C. This order shall be effective till the end of the trial, however, in case of bail jump and breach of any of the pre-condition of bail, it shall become ineffective. The jail authorities and the State Government are directed to follow the guidelines issued by the Health Ministry in the wake of Novel Corona Virus before and after releasing the applicant. Certified copy as per rules.