TaxTMI 
TaxTMI 
2012 (7) TMI 1101
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....enever he met the accused persons, he was given assurances and was persuaded to deposit further amounts of money. He was swayed by these assurances and his rather also deposited a sum of ₹ 5,30,000/- with the office of the accused. Till December 2009, the complainant received the payments through cheques. However, the cheque for the month of January, 2010 had bounced and thereafter the money was not paid. The accused persons had allegedly dosed their office and ran away. 2. On the basis of this statement of the complainant, an FIR was registered for cheating and various other offences. During the course of interrogation of the accused, computers and other material of the accused persons were seized. The investigation of this case was transferred to EOW Cell (Crime Branch) on 8.5.2010 and thereafter, a number of persons came forward and made allegations against the accused. About 188 complaints had been made by the investors who had purportedly been duped, by the accused persons for more than ₹ 1,00,00,000/-.The Report under Section 173 Cr.P.C. shows that more than 1500 investors had invested approximately ₹ 30,00,00,000/- in the concern of the accused persons. 3....
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....the sale of the property within a fortnight mentioning that the transaction shall be done by way of demand draft and no cash will be accepted. 4. The IO of the case is directed to supply the photocopy of the documents, If required by the petitioner. 5. The IO is further directed to release the original documents of the property mentioned above at the time of transfer or at the time of total transaction amount being received. 6. List the matter on 12th March, 2012. 7. Order dasti. Sd-/ Suresh Kait, J January 27, 2012 5. On 12.3.2012, this Court observed that the bonafides of the petitioner were suspicious as the advertisement which was given by him was in 'Business Standard' (Hindi and English Edition), which hardly has any circulation and accordingly he was directed to procure a firm offer for purchase of property in question and the matter was listed on 16.4.2012. From 12.3.2012, nearly 4 months have gone by, but the petitioner has not shown any indination or seriousness in disposing of his property. He has neither advertised for the sale of the property owned by him in a Mall in Gurgaon nor has he taken any positive step in this direction by advertising afresh....
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....ounterfeiting and Arms Act and who had undergone substantial incarceration for a considerable period of time as specified in the said order and who are awaiting the conclusion of the trial and further on account of their indigence, are not able to engage counsel, a general order of bail was passed, giving therein the guidelines. On the strength of these judgments, the Learned Counsel has contended that the petitioner having remained in jail deserves to be given the said benefit permanently. 9. The learned APP has vehemently opposed the grant of bail to the petitioner or the confirmation of interim bail to the petitioner on the ground that the petitioner along with his co-accused father in a calculated, predetermined and a very sophisticated manner carried out an operation of gaining the trust of the members of the general public and invited them to invest in their company by promising them lucrative returns which have not been adhered to and all these investors, who are 1500 or so in number, having invested their hard earned money which is to the staggering amount of ₹ 20 to 30 crores, cannot be taken lightly, as such persons show the repeated propensity to commit such offen....
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....ther it was the public ex-chequer which was put to loss by not holding auction of government resources or by over invoicing lenders. This is totally different from the facts of the present case where the petitioner floats advertisements and invites the offers from the members of the public to invest money in their schemes by promising them lucrative returns at regular intervals. He is able to gain their confidence and cheat them of their hard-earned money which ranges from ₹ 1,00,000/- to ₹ 10,00,000/-. This kind of activity ultimately shows a great deal of deliberation, preparation and operation which can be done only by an intelligent person and this whole exercise has been rightly observed by the learned Sessions Judge to be actuated by a mentality "to get richer overnight" at the instance of the general public or investors. I would say that this is a mentality of a class of persons who have the capacity and the temerity to lead a lavish life and create assets at the miseries of the general public by making them invest their hard earned money with them. It will send a wrong signal in case the bail is granted to such persons. This tendency is to be curbed by....