p. 1 IN THE HIGH COURT OF ORISSA AT CUTTACK BLAPL No.7258 of 2025 Ganesh. K. Setty … Petitioner Mr. H.B. Dash, Advocate -versus- State of Orissa … Opposite Party Mr. P. Satpathy, Addl. PP CORAM: JUSTICE G. SATAPATHY Order No. ORDER(ORAL) 08.01.2026 02. 1. This matter is taken up through Hybrid Arrangement (Virtual/Physical Mode). 2. This is the bail application U/S.483 of BNSS by the petitioner for grant of bail in connection with CID CB PS Case No.16 of 2024 corresponding to GR Case No.353 of 2024 pending in the file of learned JMFC-III, Cuttack for commission of offences punishable U/Ss.419/ 420/ 465/ 467/ 468/ 471/ 120-B/ 34 of IPC r/w Sec.66(c) and (D) of IT Act. 3. This case arises out of an FIR lodged by the complainant stating therein that he joined online platform (VIP 211 Group) Ram Investment Academy on 27.02.2024 for learning about stock market and trading and accordingly to the advice of Ram Investment Academy, he opened a privilege account in the name of his wife Sulochana Rath at Tech Star Enterprise, which is an Indian SEBI registered USA Company and he accordingly, deposited One Lakh through NEFT and Five Lakhs through IMPS in Tech Stars p. 2 Accounts and in the process, he deposited substantial amounts in different accounts on different dates. On this FIR, CID CB PS case No.16 of 2024 was registered and the matter was investigated into, but in the course of investigation, it is found that the complainant had deposited Rs. One Crore Three Lakh Fifty Thousand, however, it is also found that he had deposited Rs.21 Lakhs in the account of Dr. Ambedkar Mahila Vikash Mandal, (Proprietor Laxmi Bikram Praharaj UP) through its Punjab National Bank Account, but after verifying, it is found that a sum of Rs.3,50,000/- has been transferred to the account of the present petitioner. It is further alleged that in order to avoid the police case, the present petitioner has lodged an FIR on 29.04.2025 vide West Cen Crime PS Case No.260 of 2024. Accordingly, the accused was arrested on 20.06.2025 in connection with this case. 4. Heard, Mr. Himanshu Bhusan Dash, learned counsel for the petitioner and Mr. P. Satpathy, learned Additional Public Prosecutor in the present matter and perused the record together with the written instruction. 5. After having considered the rival submissions and taking into consideration the nature and gravity of the offences as alleged against the petitioner vis-à-vis the accusations sought to be brought against him and regard being had to the pre-trial detention of the petitioner in custody since 20.06.2025 with submission of preliminary charge-sheet in the meantime and taking into account the other circumstances on record in entirety including the inherent right of the accused to be presumed innocent until proven guilty at the trial and keeping in view the money p. 3 trail to the account of the petitioner and there being only allegation of diverting of Rs.3,50,000/- to the account of the petitioner from the investment of the informant, this Court without expressing any view on merits admits the petitioner to bail. 6. Hence, the bail application of the petitioner stands allowed and the petitioner is allowed to go on bail on furnishing bail bonds of Rs.50,000/- (Rupees Fifty Thousand) only with two solvent sureties each for the like amount to the satisfaction of the learned Court in seisin of the case on such terms and conditions as deem fit and proper by it with following conditions:- (i)The petitioner shall not leave the country without prior permission of the trial Court, (ii) the petitioner in the course of trial shall attend the trial Court on each date of posting without fail unless his attendance is dispensed with. In case the Petitioner fails without sufficient cause to appear in the Court in accordance with the terms of the bail, the learned trial Court may proceed against the Petitioner for offence U/S.269 of BNS,2023 in accordance with law. (iii) the petitioner shall appear before the IO as and when required for the purpose of further investigation, if any. 7. Accordingly, the BLAPL stands disposed of. 8. Issue urgent certified copy of the order as per Rules. (G. Satapathy) Judge Jayakrushna