1 2025:CGHC:43470 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR MCRC No. 6754 of 2025 1 - Shailesh Amrut Bhoir S/o Shri Amrut Bhoir Aged About 35 Years R/o Bhoir Gali, Keshav Nagar Chinchwad, Pune (Maharashtra). 2 - Prathamesh Nitin Mirajkar S/o Shri Nitin Bhanudas Mirajkar Aged About 35 Years R/o Gandhi Pedh, Opposite Jain Sthanak, Chichwad, Police Station And District - Chinchwad, Pune (Maharashtra). ... Applicants. versus State Of Chhattisgarh Through Station House Officer, Police Station New Rajendranagar, District - Raipur Chhattisgarh. ... Respondent(s). For Applicants : Shri Shrikant Mishra along with Shri Ajay Bajpai, Advocates. For State/Res. : Shri Dilman Rati Minj, Govt. Advocate. Hon'ble Shri Justice Deepak Kumar Tiwari Order On Board 28/08/2025 1. This is the First bail application filed under Section 483 of the Bhartiya Nagarik Suraksha Sanhita for grant of regular bail to the applicants who have been arrested in connection with Crime No.262/2019 registered at AVINASH SHARMA Digitally signed by AVINASH SHARMA Date: 2025.08.28 14:12:47 +0530 2 Police Station New Rajendra nagar, District Raipur C.G. for the offence punishable under Sections 420 & 34 of IPC and Sections 3, 4, 5 & 6 of Price chit fund and Money circulation Scheme (Banning) Act, 1978 and Section 6 & 10 of Chhattisgarh Protection of Depositors Interest Act, 2005. 2. Prosecution case, in brief, is that applicants being Directors of the company namely Sai Prasad Property Limited opened an office at Raipur , Chhattisgarh and allured the general public for investing in various schemes on the pretext of higher returns. However, after cheating the general public to the tune of Rs.17,47,870/-, they closed the company and absconded. On the basis of complaint made by one Santosh Kumar Sahu, offence has been registered by police station Khallari, District Mahasamund. 3. Learned counsel for the applicants would submit that the applicants are innocent and have been falsely implicated in the case. He submits that applicants are dummy Directors of the company which is run by family of Balasaheb Keshawrao Bhapkar. He further submits that a Writ Petition (CRL.) has been filed by the main Directors (Balasaheb Keshawrao Bhapkar & Ors. vs. Securities and Exchange Board of India & Ors.) bearing No.546/2023 before the Hon’ble Supreme Court, wherein, in order to liquidate the assets and liabilities of the company, a High Powered Sale Committee (hereinafter “HPSC”) has been constituted and the main accused namely Balasaheb Keshawrao Bhapkar, his son and wife have been enlarged on interim bail. Learned counsel further submits that in a similar offence registered under the 3 jurisdiction of District Balodabazar, Chhattisgarh in Crime No.126/2018, the trial Court has enlarged the present applicants on bail vide order dated 11.07.2025. Learned counsel further submits that in Special Leave to Appeal (Crl.) No(s). 16853/2024 (Balasaheb Keshawrao Bhapkar vs. State of Chhattisgarh and Ors.), the Hon’ble Supreme Court, taking into consideration that a committee (HPSC) has started to dispose of the assets of the company through public auction and disburse the sale proceeds amongst the genuine investors, has stayed the pending trials for six months and the matter has been fixed for further hearing on 17.11.2025. Considering the backdrop, counsel for the applicants submits that applicants may be enlarged on bail. 4. Per contra, counsel for the State would oppose the bail application and submit that applicants are Directors of the said company and during investigation, they have absconded, however, counsel for the State would not dispute that the trial has been kept in abeyance in view of the order passed by the Hon’ble Supreme Court. 5. I have heard learned counsel for the parties and perused the case diary. 6. Having considered the submissions of the parties, particularly considering that a High Powered Sale Committee has been constituted with the intervention of the Hon’ble Supreme Court and the main Directors have come forward to liquidate the assets, discharge their liabilities as also to disburse the sale proceeds amongst the genuine investors and the trial has also been kept in abeyance and furthermore, in a similar offence registered under Crime No.126/2018, the present applicants have already been enlarged on bail by the trial Court, this 4 Court is of the view that a strong case is made out in favour of the applicants for grant of bail to them. 7. Accordingly, the Application is allowed and the applicants are directed to be released on bail on their furnishing a personal bond for a sum of Rs.2,00,000/- (Two Lakhs only) with one surety each in the like amount to the satisfaction of the trial Court. They are directed to appear before the trial Court on each and every date given by the said Court. The applicants shall also furnish the details of movable and immovable properties held by them and their family members viz. wife & dependent children and shall not alienate the immovable property without the prior permission of the concerned trial Court. Sd/- (Deepak Kumar Tiwari) Judge Avinash