2026 (1) TMI 719

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the offence under section 419 and 420 of the Indian Penal Code, 1860 read with Section 66(D) and 66(C) of the Information Technology Act, 2008. It was pertaining to a part-time job fraud in which the accused operated a fraudulent scheme involving a mobile app named "Keep Sharer", available on Google Play store between the year 2008 and 2023. The accused lured the public with promises of part-time online jobs and investment opportunities, instructing users to like and share videos and pages of celebrities and ordinary individuals. The participants were required to invest in various packages offered on the application. The complainant and his friends invested approximately Rs. 4,83,154/-. However, they could not get any return and even the m....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....endants before the Adjudicating Authority. The entities were also found to be involved in commission of scheduled offence. These entities perpetrated a massive fraud, deceiving the public by accepting investments worth crores of rupees. They set up merchant accounts seemingly for legitimate businesses or obtaining payment solutions from Payment Gateway and Payment Solutions Companies like Razorpay. The appellant was found involved and accordingly the PAO was caused for a sum of Rs. 6,51,88,577/- in reference to the defendants before the Adjudicating Authority. Aggrieved by the order passed by the Adjudicating Authority, the appellant has filed the present appeal. Arguments of the Ld. Counsel for the appellant: 6. Ld. Counsel submitted....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....atisfaction to the issue raised and prayed to this Tribunal to deal with the issues and accordingly allow the appeal. 8. Ld. Counsel for the appellant closed his argument. Arguments of the Ld. Counsel for the respondent: 9. Ld. Counsel for the respondent vehemently contested the appeal. It was submitted that the appellant was found involved in commission of crime along with others and accordingly proceeds acquired out of the crime were subjected to the provisional attachment. The elaborate arguments were made to show a case against the appellant and proceeds of crime in his hand. The arguments made by the Ld. Counsel for the respondent would be referred while recording findings on the arguments raised by the appellant in order to a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nder Section 50(2) of the Act of 2002 but the appellant did not appear and accordingly did not honour the summons. On the analysis, it was found that the funds parked in the account of the appellant, Shri Chetan Prakash were out of the proceeds of crime generated out of commission of scheduled offence and therefore his property was provisionally attached. During the course of investigation, it was confirmed by Zerodha that one of the suspected email ids belongs to the appellant, Shri Chetan Prakash. Upon analysis of the bank statement of the linked bank account of the appellant, the credits to the tune of Rs. 14.24 crores was found in his account No. 133101001159. The major portion out of the collection of money was from the public through ....