JUDGMENT Samit Gopal, J. Heard Sri. Rakesh Pandey, learned Senior Advocate assisted by Sri. Yashaswin Venugopal Bajpai and Ms. Vishakha Pande, learned counsels for the applicant, Sri. Rupak Chaubey, learned AGA for the State and perused the records. 2. This bail application under Section 439 of Code of Criminal Procedure has been filed by the applicant Badri Narayan Tiwari, seeking enlargement on bail during trial in connection with Case Crime No. 0206 of 2019, under Sections 420, 467, 468, 471, 409, 201, 120-B IPC, registered at P.S. Dadri, District Gautam Budh Nagar. 3. The present case started on an F.I.R. being lodged on 12.02.2019 by Sunil Kumar Meena s/o Devi Lal Meena resident of Flat No.- GF1, Bhavya Praide Apartment, S.K.I.T. Engineering College near Jagatpura, Jaipur against Sanjay Bhati, Rajesh Bhardwaj, Sunil Kumar Prajapati, Dipti Bahal, Sachin Bhati and Karan Pal Singh alleging that in the first week of October he entered into an agreement with a Bike Taxi Company by depositing Rs. 34 lakhs. The name of the company was Bike Bot powered by Gravit Innovative Promoter Limited, the owner of the said company is Sanjay Bhati and the other directors of the company are Rajesh Bhardwaj, Sunil Kumar Prajapati, Dipti Bahal, Sachin Bhati and Karan Pal Singh. The company was having its registered office at Plot No.1, Chiti, Gautam Budh Nagar, Greater Noida, U.P. and the other offices of the company are situated at Dadri and Grand Venis Mall, Noida. The informant has executed an agreement with Sanjay Bhati on a stamp paper of Rs. 1000/- with the postulation that the company will open franchise by giving him 51 bikes which would be operated like Ola Bike and Uber in Jaipur and as per the terms of the agreement the salary of 51 drivers will be given by the company and the company shall also provide rent of bike parking @ 200/- per bike. The informant came to know about the company from the Manager of Andhara Bank, Branch Jagat Pura, Jaipur who also informed him that he has also invested in six bikes and on further enquiry the informant came to know that many people of Jaipur who are acquainted to him have also invested in the said company. Each one of them were getting payment per month by the company but after 01-02 months the company stopped the payment. The informant was to get Rs. Each one of them were getting payment per month by the company but after 01-02 months the company stopped the payment. The informant was to get Rs. 6,45,000/- in his bank account of Andhara Bank but he received only Rs. 66,000/- from the company and since the last two months neither he nor anyone has received any money. The company has no bike online booking app. The informant many times visited the company but the officials told him that they only keep bikes for showing while the company earns by making people join the company and he should also pursue people to join the company if he wants to earn. Apart from 51 bikes only 26 bikes have been sent to the informant. The informant has came to know that the owner of the company Sanjay Bhati has appointed another CEO of the company, grabbed money of everyone and has cheated everyone. The company is not providing any bike taxi services rather it is rotating money as chit fund company. The company has promised to pay Rs. 75 lakhs from of investment of Rs. 34 lakhs. The company has done fraud with many people, the bank accounts of the company be seized and his report be lodged. 4. Learned counsel for the applicant argued as follows:- i) The applicant is the Director of M/s Mars Envirotech Limited and M/s Accord Hydraulics Private Limited, para 10 and 13 of the affidavit have been placed before the Court. ii) The applicant is not named in the FIR. His implication has surfaced in the matter during investigation. iii) The applicant has been granted bail in a case initiated against him under Section ¾ of the Prevention of Money Laundering Act, 2002 with regards to the same incident vide order dated 22.08.2023 passed in Criminal Misc. Bail Application No. 3817 of 2023 [Badri Narayan Tiwari v. Directorate of Enforcement (Lucknow Zonal Office), Lucknow], para 18 and annexure 7 of the affidavit have been placed before the Court. iv) The applicant has been granted bail by the Apex Court in other criminal cases by a common order dated 13.07.2022 being Case Crime Nos. 353 of 2019, 358 of 2019, 510 of 2019, 592 of 2019 and 602 of 2019, P.S. Dadri, District Gautam Budh Nagar, para 17 and annexure 6 of the affidavit have been placed before the Court for the same. 353 of 2019, 358 of 2019, 510 of 2019, 592 of 2019 and 602 of 2019, P.S. Dadri, District Gautam Budh Nagar, para 17 and annexure 6 of the affidavit have been placed before the Court for the same. v) The present case is the leading case and all the other cases pertaining to the Bike Bot Scheme have been ordered to be clubbed with the present case vide order dated 12.05.2022 passed by the Apex Court in Writ Petition (Criminal) No. 197 of 2021 (Satinder Singh Bhasin v. State of U.P. and another), para 9 and annexure 2 to the affidavit have been placed before the Court vi) Co-accused Suneel Kumar Prajapati a named accused person has been granted bail vide order dated 27.01.2022 passed in Criminal Misc. Bail Application No. 26288 of 2021 (Sunil Kumar Prajapati @ Sunil Prajapati v. State of U.P.) connected with Criminal Misc. Bail Application No. 26884 of 2021 (Sunil Kumar Prajapati @ Sunil Prajapati v. State of U.P.), para 20 and annexure 8 of the affidavit have been placed before the Court. vii) The other co-accused in connected cases namely Adesh Bhati @ Ajeet Bhati, Sanjay Goel, V.K. Sharma, Satinder Bhasin who are in the matter relating to Bike Bot Scheme have been granted bail by this Court and other Benches of this Court, para 22 and annexure 9 of the affidavit have been placed before the Court. viii) Charge sheet in the matter has been submitted on 05.01.2022 under Sections 420, 467, 468, 471, 409, 201, 120-B IPC against the applicant and other accused persons, para 26 and annexure 11 of the affidavit have been placed before the Court. ix) The applicant was not involved in the management and business of M/s Gravit Innovative Promoters Limited (GIPL). The implication of the applicant in the present case is on the ground that preferential shares of M/ s Mars Envirotech Limited were allotted to Independent T.V. Limited, Pantel Technologies Private Limited and Pimex Broadcast Private Limited which were the front companies of GIPL. x) The applicant has been involved in as many as 55 cases pertaining to Bike Bot Scheme till the time of decision of his bail application vide order dated 05.05.2023 being Criminal Misc. x) The applicant has been involved in as many as 55 cases pertaining to Bike Bot Scheme till the time of decision of his bail application vide order dated 05.05.2023 being Criminal Misc. Bail Application No. 10775 of 2022 (Badri Narayan Tiwari v. CBI, Lucknow), (annexure 10) to the affidavit as has been stated therein in para 5 of the said order which is being taken from the said order and argued that there are four other cases after the said order of involvement of the applicant and as such he is involved in a total of 59 criminal cases. The applicant further has been involved in one case under the Gangsters Act. xi) The applicant is in jail since 26.02.2021. 5. Per contra, learned counsel for the State vehemently opposed the prayer for bail and argued as follows: i) Para 12 to 21 of the counter affidavit clearly show the role of the applicant and his involvement. While placing para 18 of the said affidavit it is argued that as per the bank details Rs. 20.55 crores have been transferred from different bank accounts of GIPL and its sister companies to the bank account of M/s Mars Envirotech Ltd. And M/s Accord Hydraulic Pvt. Ltd. from 11.12.2018 to 22.02.2019. ii) The applicant is one of the beneficiaries of the money collected by GIPL through cheating and forgery. iii) The bail application of the matter under the Money Laundering Act only considered the aspect of money laundering. iv) The applicant was appointed as Investor Advisor of Pental Technologies Private Limited and was granted entire financial and administrative powers. He was having full control of the said company and Independent T.V. and through sham transactions diverted the money of investor collected in GIPL to Independent T.V., PTPL and his own companies. He is one of the beneficiaries of the Bike Bot Scheme. He was having full control of the said company and Independent T.V. and through sham transactions diverted the money of investor collected in GIPL to Independent T.V., PTPL and his own companies. He is one of the beneficiaries of the Bike Bot Scheme. Composite charge sheet dated 21.10.2022 has been filed against the applicant and co-accused persons in the present case under Sections 420, 467, 468, 471, 409, 201, 120-B IPC read with Section 76A of the Indian Companies Act and sub-Section 4A of Section 55B of RBI Act, 1924 and Sections 4, 5, 6 of Prize Chits and Money Circulations Scheme (Banning Act), 1978, annexure C.A.-3 to the counter affidavit has been placed to show the appointment of the applicant in Pental Technologies Private Limited, para 46 of the counter affidavit has been placed. v) Properties in the nature of house and a non conventional power plant, all belonging to the applicant and his company have been seized by the Enforcement Directorate, para 37 of the counter affidavit has been placed before the Court. vi) Witnesses Mohd. Shayan Arif, Vivek Singh, Vivek Prakash and Gaurav Tandon during interrogation revealed the participation of the applicant in transfer of money of PTPL and ITV, para 22(c) and annexure 7 of the counter affidavit has been placed before the Court. vii) GIPL and its sister companies and Independent TV (earlier known as Reliance Big TV Limited) opened 21 bank accounts in different banks and Rs. 29,76,52,09,644.62/- were received from approximate 2,46,462 investors. viii) Identically placed co-accused Anil Kumar Shah @ Anil Saha applied for bail before this Court which has been rejected vide order dated 18.10.2023 passed by this Court in Criminal Misc. Bail Application No. 727 of 2023 (Anil Kumar Shah @ Ani Saha v. State of U.P.). The accused then approached the Apex Court challenging the said order dated 18.10.2023 and his petition being Special Leave to Appeal (Criminal) No. 14555 of 2023 (Anil Kumar Shah @ Anil Saha v. State of U.P.) has been dismissed vide order dated 20.11.2023, copy of the orders have been produced before the Court which are taken on record. ix) The bail application of the applicant be rejected looking to the facts of the case, nature and gravity of offence. 6. ix) The bail application of the applicant be rejected looking to the facts of the case, nature and gravity of offence. 6. After having heard learned counsels for the parties and perusing the records, it is evident that the applicant is the Director of M/s Mars Envirotech Limited and M/s Accord Hydraulics Private Limited. Preferential shares were purchased by ITV, PTPL and PBPL the sister concern of GIPL by transferring huge amount. The applicant was also made an Investment Advisor in Pental Technologies Private Limited, sister concern of GIPL with full authority and financial powers. The properties of the applicant have been attached by the Enforcement Directorate which would go to show that there has been money laundering and a money trail was found showing his complicity and criminality. The applicant was one of the beneficiaries of the money collected by GIPL from the investors on the pretext of supplying e-bikes to them. M/s Accord Hydraulic Private Limited as per an agreement dated 01.12.2018 was to install a production and manufacturing unit for production of e-bikes but no e-bikes was supplied. The investigation in the matter has concluded and charge sheet has been submitted which also shows the implication of the applicant in the matter. The bail of co-accused Anil Kumar Shah @ Anil Saha was rejected by this Court vide order dated 18.10.2023. The said order reads as under:- "1. Heard Sri. Swetashwa Agarwal, learned counsel for the applicant and Sri. Rupak Chaubey, learned A.G.A. for the State and perused the material on record. 2. This bail application under Section 439 of Code of Criminal Procedure has been filed by the applicant- Anil Kumar Shah@ Ani Saha, seeking enlargement on bail during trial in connection with Case Crime No. 206 of 2019, under Section 420, 467, 468, 471, 409, 201, 120-B I.P.C., registered at Police Station Dadri, District Gautam Budh Nagar. 3. The prosecution case as per the F.I.R. lodged on 12.02.2019 by Sunil Kumar Meena s/o Devi Lal Meena resident of Flat NO.-GF1, Bhavya Praide Apartment, S.K.I.T. Engineering College near Jagatpura, Jaipur against Sanjay Bhati, Rajesh Bhardwaj, Sunil Kumar Prajapati, Dipti Bahal, Sachin Bhati and Karan Pal Singh is that in the first week of October he entered into an agreement with a Bike Taxi Company by depositing Rs. 34 lakhs. 34 lakhs. The name of the company was Bike Bot powered by Gravit Innovative Promoter Limited, the owner of the said company is Sanjay Bhati and the other directors of the company are Rajesh Bhardwaj, Sunil Kumar Prajapati, Dipti Bahal, Sachin Bhati and Karan Pal Singh. The company was having its registered office at Plot No.1, Chiti, Gautam Budh Nagar, Greater Noida, U.P. and the other offices of the company are situated at Dadri and Grand Vanis Mall, Noida. The informant has executed the agreement with Sanjay Bhati on a stamp paper of Rs. 1000/- with the postulation that the company will open franchise by giving informant 51 bikes which would be operated like Ola Bike and Uber in Jaipur and as per the terms of the agreement the salary of 51 drivers will be given by the company and the company shall also provide rent of bike parking @ 200/- per bike. The informant came to know about the company from the Manger of Andhara Bank, Branch Jagat Pura, Jaipur who also informed him that he has also invested in six bikes and on further enquiry the informant came to know that many people of Jaipur who are acquainted to him have also invested in the said company. Each one of them were getting payment per month by the company but after 01-02 months the company stopped the payment. The informant was to get Rs. 6,45,000/- in his bank account of Andhara Bank but he received only Rs. 66,000/- from the company and since the last two months neither he nor anyone has received any money. The company has no bike online booking app. The informant many times visited the company but the officials told him that they only keep bikes for showing while the company earns by making people join the company and he should also pursue people to join the company if he wants to earn. Apart from 51 bikes only 26 bikes have been sent to the informant. The informant has came to know that the owner of the company Sanjay Bhati has appointed another CEO of the company, grabbed money of everyone and has cheated everyone. The company is not providing any bike taxi services rather it is rotating money as chit fund company. The company has promised to pay Rs. 75 lakhs from of investment of Rs. 34 lakhs. The company is not providing any bike taxi services rather it is rotating money as chit fund company. The company has promised to pay Rs. 75 lakhs from of investment of Rs. 34 lakhs. The company has done fraud with many people, the bank accounts of the company be seized and his report be lodged. 4. Learned counsel for the applicant argued that the applicant is not named in the first information report. It is argued that the implication of the applicant has surfaced in the matter after two years of lodging of the first information report. It is argued that Deepak Tayal a witness in the matter was interrogated under section 161 Cr.P.C. who did not state anything about the applicant. Subsequently his statement was again recorded for the second time on 10.08.2021 in which only general and omnibus allegations have been levelled against the applicant and 07 named persons and others. It is argued that the applicant is not involved in the management of the company and is neither a shareholder of the company. It is further argued that the applicant is an accused in one other case lodged in Delhi pertaining to Bike Bot matter. It is argued that the applicant has been booked under the U.P. Gangsters & AntiSocial Activities Act (Prevention), 1986 in a very stereo typed manner along with other co-accused persons. Learned counsel has argued that the Memorandum of Understanding was executed between M/s Gravit Innovative Promoter Limited and M/s Saha Infratech Pvt. Ltd. and M/s Abet Builtech Pvt. Ltd. which are the companies of the applicant and money was transferred for booking of nine flats by G.I.P.L. It is argued that the said nine flats have been attached by the Enforcement Directorate but the same would go to show that the transactions were not in any manner sham transactions in a clandestine way. It is argued that the said transactions were genuine and were transactions through bank. It is argued that co-accused Sanjay Goel, Adesh Bhati @ Ajeet Bhati, Sunil Kumar Prajapati @ Sunil Prajapati and Rekha Rani have been granted bail by co-ordinate Benches including this Bench of this Court vide orders dated 28.05.2020, 20.07.2021, 27.01.2022 and 15.12.2022 passed in Criminal Misc. Bail Application Nos. It is argued that co-accused Sanjay Goel, Adesh Bhati @ Ajeet Bhati, Sunil Kumar Prajapati @ Sunil Prajapati and Rekha Rani have been granted bail by co-ordinate Benches including this Bench of this Court vide orders dated 28.05.2020, 20.07.2021, 27.01.2022 and 15.12.2022 passed in Criminal Misc. Bail Application Nos. 2766 of 2020, 21115 of 2021, 26288 of 2021 with 26884 of 2021 and 56777 of 2022, the copy of the said orders is annexed as Annexure-31 to the affidavit. Further co-accused Lalit Kumar has been granted bail by the Apex Court vide order dated 05.08.2022 passed in Criminal Appeal Nos. 1170-1178 of 2022, the copy of the said order is annexed as Annexure-SA-1 to the supplementary affidavit dated 11.01.2023. It is further argued while placing paragraph 122 of the affidavit that the applicant is an old ailing man aged about 65 years. The applicant and is in jail since 12.12.2020. 5. Per contra, learned A.G.A. for the State vehemently opposed the prayer for bail. It is argued that on the own showing of the applicant from paragraph 4 to 8 of the supplementary affidavit dated 28.08.2023 the applicant is involved in 05 other cases and 07 cases pertaining to Bike Bot scam. It is argued that the Memorandum of Understanding dated 19.09.2018 shows the acquisition price of the target company is approximately Rs. 09 lakhs. It is argued that it was further stated that the parties shall enter into separate share purchase agreement for each of the target companies. It is argued that perusal of paragraph 69 of the affidavit in support of the bail application goes to show that the transfer of funds were much earlier to the company of the applicant from the date of lodging of the first information report. It is further argued that there has been siphoning of funds by transferring the funds collected in the scam under the garb of the applicant for purchase of flats. It is argued that attachment of the said properties by the Enforcement Directorate is after their satisfaction of money being laundered and after they have satisfied with the misuse of funds through money trail. It is argued that the said money was transferred to the company of the applicant just to legalize it. It is further argued that the applicant is a beneficiary of money received from investors. The applicant is further involved in signing forged cheques. It is argued that the said money was transferred to the company of the applicant just to legalize it. It is further argued that the applicant is a beneficiary of money received from investors. The applicant is further involved in signing forged cheques. Learned counsel has argued that G.I.P.L. and its sister companies and Independent TV (earlier known as Reliance Big TV Ltd.) opened 21 bank accounts in different banks and Rs. 29,76,52,09,644.62 were received from approximate 2,46,462 investors. The applicant was instrumental in motivating the investors to invest their money in G.I.P.L. While placing paragraph 15 of the counter affidavit it is argued that as per the bank statements obtained by the Investigating Officer the companies of the applicant received Rs. 21,67,00,177/- transferred by G.I.P.L. and its sister companies. It is argued that the applicant is seriously involved in the present matter. He by receiving money in his companies was a direct beneficiary of the money collected by cheating and forgery. It is argued that the bail application thus deserves to be rejected. 6. After having heard learned counsel for the parties and perusing the record, it is evident that the companies of the applicant received money from G.I.P.L. in their account for flats booked by G.I.P.L. The flats have been attached by the Enforcement Directorate which goes to show that money has been laundered and money trail was found to be showing criminality. The applicant was thus the beneficiary of the money collected by G.I.P.L. from investors by committing fraud and cheating on them. The investigation in the matter has concluded and charge sheet has been submitted in which the implication of the applicant has surfaced. No ground for bail is made out. 7. Looking to the facts and circumstances of the case, this Court does not find it a fit case for bail, hence, the bail application is rejected. 7. A Special Leave to Appeal (Criminal) No. 14555 of 2023 (Anil Saha v. State of U.P.) preferred before the Apex Court against the said order dated 18.10.2023 was also dismissed vide order dated 20.11.2023 passed in it. The said order reads as under:- "We are not inclined to interfere with the impugned judgment and hence, the special leave petition is dismissed. Pending application(s), if any, shall stand disposed of." 8. The said order reads as under:- "We are not inclined to interfere with the impugned judgment and hence, the special leave petition is dismissed. Pending application(s), if any, shall stand disposed of." 8. Looking to the facts and circumstances of the case, the nature of offence, the gravity of incident, the magnitude of money involved, the applicant being a beneficiary of the money collected through cheating, the criminal antecedents of the applicant and the rejection of bail of co-accused by this Court and the Apex Court, this Court does find it to be a fit case for bail. 9. The bail application is, accordingly, rejected.