TaxTMI 
TaxTMI 
2020 (2) TMI 1542
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....hmed S/o Mohd. Aziz both residents of Village Chhungan and Murtaza Ahmed, S/o Mohd. Bashir, R/o Chak Banola, Tehsil Mendhar and others, alleging therein that the above alleged accused persons were running a private company in the name and style of Hablas Pvt. Ltd. where they have collected money from the people with the motive to double the money within a month's time. The complainants also alleged that the alleged accused doubled the money of various people of the area. The accused were running this fraudulent company from near about 08 months and thereafter have disappeared from Tehsil Mendhar and did not double their money. It was also alleged that the alleged accused persons cheated the complainants and are wandering in Jammu, Delhi and at various places in India. Upon the receipt of this application/complaint a case FIR No. 70/2019 u/s 420/RPC has been registered in P/s Mendhar on 16.05.2019 and the investigation of the case was taken up by Inspector Sajjad Mir, SHO P/s Mendhar. Later on, vide PHQ order No. 1929 of 2019 dated 20.05.2019, the investigation of the case FIR No. 70/2019 u/s 420/RPC P/S Mendhar was transferred to Crime Branch, Jammu and entrusted to Dy. SP....
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.... amounts from different individuals in advance. Some of the individuals were given the products along with gifts, while as, most of the individuals were neither provided any gifts nor any products against their advance deposits and their money was grabbed under the promise of getting the products which the accused was providing and include Blankets, Quilts, Press, Lunch Boxes, Body Messaging machines etc. The accused further disclosed that after sometime, he stopped providing products and he in connivance with other accused and employees of the company started collecting cash deposits with the promise of providing them high rate of interests of 50% and to win over the confidence of the people he provided high interest to some people who spread the rumors in the area to lure the people and in this way, people started depositing the cash amounts with his company which was formed by him in connivance with other accused. Further, the accused also disclosed that he has purchased some properties in Mendhar, Gurgaon and the record/register which contains details of deposits collected by him and other accused employees of the company is lying in his house located at Behara Mendhar which ha....
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....looking into the veracity of allegations presented the Preliminary Charge Sheet, despite the fact that the alleged offences do not connect involvement of the applicant at all. g. The criminal proceedings initiated against the applicant is manifestly saturated with malafide and maliciously instituted with an ulterior motive for wrecking vengeance on the applicant. Objections filed in Bail Application No. 170/2019 04. The State has filed the objections in Bail App No. 170/2019, wherein it is stated that :- a. During the course of investigation, accused Zaffar Iqbal S/o Nizam Din R/o Salwah Tehsil Mendhar District Poonch at present Gujjar Colony, Upper Paloura, Jammu who has been found actively involved in the case has also been arrested on 10.06.2019 and is on judicial remand. b. From the investigation it is found that accused Zaffar Iqbal S/o Nizam Din R/o Mendhar at present Upper Palora, Jammu has propagated for the accused and has intentionally delivered various public lectures to lure the innocent people. c. The accused by way of propagation and by delivering lectures in public has won over the confidence of the people who were assured th....
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....4040100029576 and Rs. 8971/- balance in A/c No. 0094040100039469, which indicates that the public money collected and received have further been drawn and transferred and the trail of the same is in progress. The accused has failed to give the details of the said amount received by him in the above A/c Nos. maintained in his name. No detail was provided by the accused to justify the source of money indicating there by that the money received by the accused is public money collected by means of cheating and fraud. The investigation conducted so far reveals that more than 8969 people have been duped and an amount of Rs. 1187962950/as per record has been swindled. Grounds of challenge in Bail Application No. 192/2019 05. The main grounds in the instant application are that:- a. The applicant was engaged by one Tariq Mehmood R/o Mendhar to work in his office as Accounts Assistant. While the office management, work and public dealings were dealt with by the employer of the applicant, the applicant continued to serve in the office as Accounts Assistant and used to get the monthly salary. The applicant submits that he was never associated with the business activities of the....
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....des this, he has also shared the public money illegally collected under the pretext of doubling the same. b. During the course of investigation, accused Zaheer Abass S/o Tasweer Hussain R/o Chhungan, Mendhar who has been found actively involved in the case has also been arrested on 12.06.2019 and is in judicial custody lodged at District Jail Rajouri. c. The accused disclosed that he remained associated with Tariq Mehmood and was working as Accountant in Hablas-e-Commerce Pvt. Ltd. where huge amounts were being deposited by the innocent people and the said accused has also taken Rs. 5 lacs from the said company illegally and spent by him for his personal use, which is to be recovered. d. During the investigation it is also found that an amount of Rs. 11 lacs was credited in the account of accused Zaheer Abass out of the public money and the same was further transferred to some other account, Besides, Rs. 5 lacs, which he took from the company was deposited by him in the HDFC Bank Mendhar and is to be recovered from the accused. e. That various people have stated in their statements recorded u/s 161/Cr.PC that Zaheer Abass in connivance with Tariq....
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....hese accounts have been frozen so as to ascertain the source of money. h. That during the course of investigation it is also found that accused Zaheer Abass, Tasveer Hussain father of accused Zaheer Abass have deposited huge amounts in the Hablas-e-Commerce company in their names as well as in the names of their relatives and have also received lakhs of rupees as profit from the said company. i. That as per records, Rs. 36,60,000/- has been deposited in the name of accused Zaheer Abass S/o Tasveer Hussain, Rs. 1,40,000/in the name of Akhtar Bi W/o Tasveer Hussain, Rs. 1,70,000/in the name of Tabassum D/o Tasveer Hussain, Rs. 2,00,000/in the name of Tasveer Hussain and Rs. 2,60,000/in the name of Tahir Abass S/o Tasveer Hussain. The amounts taken as profit are also yet to be recovered. j. That during the course of investigation vehicle (Scorpio S-11) bearing registration No. JKO2CF-7112 has been seized from the possession of accused Zaheer Abass on 10.06.2019 vide seizure memo dated 10.06.2019. Loan file of the vehicle in question has also been obtained from Mahindra and Mahindra Financial Services Ltd. and the perusal of which reveals that Borrower Tasvee....
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....eposit the money in the company and his name does not stand in FIR. Learned counsel for the applicant has also submitted the photocopies of various Bank pass-books of the applicant's account and has tried to satisfy the Court that money has been transferred to his account by his relatives. Various affidavits in this regard have also been filed. 10. Similarly, learned counsel for the applicant in Bail App No. 192/2019 has stated that the applicant was only Accountant in the company and there are no allegations incriminating against him. Learned counsel for the applicant has also furnished photocopies of pass-books, satisfying the Court that he has received the money by lawful means from his relatives. Certified affidavits of the persons duly attested by the notary have also been filed by the applicants in that regard. 11. Learned counsel for the applicants has placed reliance upon case titled "P. Chidambaram Vs Directorate of Enforcement" bearing Criminal Appeal No. 1831/2019, wherein the Apex Court has granted bail to P. Chidambaram under Section 3 of Prevention of Money Laundering Act, 2002. 12. Reliance is also placed upon case titled "Surendra Nath Pandey and another Vs....
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....e same just to continue the custody of the appellant. It was also highlighted that even according to the CBI, several Ministers and IAS officers are involved, but no one has been arrested so far. As far as those allegations are concerned, it is the claim of the CBI that considering the huge magnitude of transactions, various beneficiaries, and companies/persons involved with A-1 and his associates, the CBI is taking effective steps for early completion of the same. Though learned senior counsel for the appellant submitted that in view of non-compliance of Section 167 of the Code the appellant is entitled to statutory bail, in view of enormous materials placed in respect of distinct entities, various transactions etc. and in the light of the permission granted by this Court in the order dated 05.10.2012, we are unable to accept the argument of learned senior counsel for the appellant. 14) ................. 15) Economic offences constitute a class apart and need to be visited with a different approach in the matter of bail. The economic offence having deep rooted conspiracies and involving huge loss of public funds needs to be viewed seriously and considered as grav....
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..... and Ors. Vs National Investigating Agency (NIA) reported in 2014 (16) SCC 543, wherein the factual matrix of the case was that after completion of the investigation, charge-sheet was filed by NIA on 19-10-2013, which inter alia stated the allegations against each of the petitioners and the materials on the basis of which such allegations were levelled. It also stated in paragraphs 18.2 and 18.3 that requisite sanction under Sections 18 and 18A of the UAPA was accorded by the Ministry of Home Affairs, Government of India, vide order dated 17.10.2013 and also that sanction under Section 7 of the Explosive Substances Act was accorded by the District Magistrate, Kannur vide his order dated 15.10.2013. In paragraph 18.6 of the charge- sheet it was stated to the following effect: "Foreign bank transaction details are to be collected and the call Data Records have to be further analyzed. Records pertaining to Thanal Foundation Trust need to be collected and verified. Hence, further investigation is inevitable and is in progress. Additional list of witnesses, additional statements of witnesses and additional list of documents will be filed in due course. Hence it is also prayed ....
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....on completion of the investigation the police officer investigating into a cognizable offence shall submit a report. The report must be in the form prescribed by the State Government and stating therein (a) the names of the parties; (b) the nature of the information; (c) the names of the persons who appear to be acquainted with the circumstances of the case; (d) whether any offence appears to have been committed and, if so, by whom (e) whether the accused has been arrested; (f) whether he had been released on his bond and, if so, whether with or without sureties; and (g) whether he has been. forwarded in custody under Sec.170. As observed by this Court in Satya Narain Musadi and Ors. v. State of Bihar, [1980] 3 SCC 152 at 157; that the statutory requirement of the report under Section 173(2) would be complied with if the various details prescribed therein are included in the report. This report is an intimation to the magis- trate that upon investigation into a cognizable offence the investigating officer has been able to procure sufficient evidence for the Court to inquire into the offence and the necessary information is being sent to the Court. In fact, the report under Section ....