TaxTMI 
TaxTMI 
2015 (12) TMI 1859
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....inant invested an amount of Rs. 4,50,000/- on being deceived by an agent of the petitioner namely Heena. The complainant was induced to believe that her deposits would be trebled in a short span of time. This was obviously a wrong promise. 3. After lodging of the aforementioned case, the petitioner was arrested on 10.09.2010. During the period when the aforesaid case was being investigated, many other FIRs came to be registered. However, after completion of investigation, chargesheet was submitted against the petitioner and others on 06.12.2010. 4. Learned counsel for the petitioner submits that though charges were framed against the petitioner under Sections 409 read with Section 120 B IPC and in the alternative under Section 420 read wi....
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....t is submitted, around 8500 complaints have been received in EOW against the NGO (Anand Jan Sewa Society) and its functionaries and the total amount involved is approximately Rs. 80 crores. Learned APP has also taken reference of six more FIRs which have been registered in EOW against the NGO (Anand Jan Sewa Society) which are pending investigation. 8. In Sanjay Chandra vs. CBI, 2012 (1) SCC 40, the Supreme Court held that "... the object of bail is to secure the appearance of the accused person at his trial by reasonable amount of bail. The object of bail is neither punitive nor preventive. Deprivation of liberty must be considered a punishment, unless it is required to ensure that an accused person will stand his trial when called upon....
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....pite the gravity of the offence and the magnitude of the losses suffered by the investors/victims, the petitioner has become entitled to bail. 13. For the aforestated reasons, the petitioner is directed to be released on bail on his furnishing a bond in the sum of Rs. 25,000/- with two sureties of the like amount to the satisfaction of the Trial Court. 14. The aforesaid grant of bail is subject to the condition: (a) that the petitioner shall not directly or indirectly make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade him to disclose such facts to the Court or to any other authority; (b) the petitioner shall remain present before the Court on all dates and shall not absent h....