2000 (7) TMI 1007

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....ctors and officials of the Hoffland Group of Companies to deposit the money. It is also alleged that after maturity of deposits, repayments have not been made despite persistent demands, though he was given categoric assurance that the money would be refunded after the maturity of deposits. It is also alleged that like the complainant hundreds of other investors had deposited their life time savings with the Hoffland Group of Companies. In most cases neither the principal nor the interest amount has been refunded despite all kind of assurances. A number of FIRs have been lodged against the petitioner, against B.B. Sharma (Chairman & Managing Director) and others and they are pending in various courts all over the country. 3. In the petit....

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....amental rights of the petitioner. He also submitted that for the aforesaid offences, the petitioner can't be kept in custody without trial indefinitely. 6. Learned counsel for the petitioner stated that when the co-accused, K.C. Aggarwal has been granted bail then there seems to be no justification in detaining the petitioner. Learned counsel for the petitioner has drawn my attention to the orders passed by the Supreme Court in Crl. Writ. Petition No. 256/99 tilted V.K. Sharma Vs. Union of India, decided on 28.3.2000 and some other cases of similarly placed accused. The Lordships of the Supreme Court released accused V.K. Sharma who had collected hundreds of crores from thousands of investors and hundred of FIRS and complaints are pe....