1 2025:CGHC:44817 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR MCRC No. 7037 of 2025 1 - Subrat Bhattacharya S/o Bireshwar Bhattacharya Aged About 64 Years R/o F-90, South City-1, Gurugram, Police Station Sector-40, District Gurugram (Haryana), Permanent Address- 72/1 Punjabi Bag, Delhi West. ... Applicant versus 1 - State Of Chhattisgarh Through Station House Officer, Police Station Patewa, District : Mahasamund, Chhattisgarh ... Respondent For Applicant : Mr. Dharmesh Srivastava, Advocate For Respondent/State : Mr. Vivek Sharma, Addl. Advocate General SB : Hon'ble Shri Justice Deepak Kumar Tiwari Order On Board 03.09.2025 1. This application under Section 483 of the BNSS, 2023 for grant of bail has been filed by the accused/applicant who has been arrested in connection with Crime No.148/2018 registered at Police Station Patewa, District Mahasamund for the offence under Sections 420, 406, 409/34 & PRIYANKA VERMA Digitally signed by PRIYANKA VERMA Date: 2025.09.03 15:43:11 +0530 2 120-B of the Indian Penal Code and Sections 3, 4 & 5 of the Prize Chits And Money Circulation Schemes (Banning) Act, 1978 and Section 10 of the Chhattisgarh Protection of Depositors (Interest) Act, 2005. 2. As per prosecution case, the applicant along with other accused formed a company styled as "Pulse Agrotech Corporation Limited" (PACL) at New Delhi and allured various persons to deposit money in the said company assuring them to get higher return. On their assurance, various investors have deposited their hard earn money in the said organization. However, at the time maturity, the investors did not get their money and they found that the said company is closed and the persons who were running the company have absconded. Thereafter, the complainant has lodged the FIR at Police Station Patewa, on the basis of which, the applicant and other accused have been arrested. 3. Learned counsel for the applicant submits that the applicant is innocent and has been roped in a false case. He further submits that the prime accused is Nirmal Singh Bhangoo and his family members and no role has been attributed to the present applicant. He further submits that for liquidation of assets and liabilities of the Company, a Committee has already been constituted by the statutory authority. He also submits that by the Co-ordinate Bench of this Court similarly situated co-accused have already been released on anticipatory bail vide MCRCA No.1329/2018 order dated 31.10.2018 and in regular bail vide MCRC No.5309/2023 order dated 16.08.2023. He also submits that one of the co-accused namely Gurmeet Singh has also been released on bail by the trial Court in connection with Crime No.142/2018. He also submits that 3 recently on 01.09.2025, the present applicant has been enlarged on bail by this Court in connection with Crime No.142/2018 passed in MCRC No.6859/2025 and the issue involved in the said case is similar to the present case. He further submits that in a similar nature of crime, the applicant has already undergone for a period of about 8 years. Thereafter, he was released on bail by the Hon'ble Supreme Court. Subsequently, he has been detained for the present offence on 19.08.2025 and since then he is in jail. In such circumstances, the applicant may be released on bail. He also submits that the applicant would abide by all terms and conditions imposed on him while granting bail. 4. Per contra, learned State counsel opposes the prayer for bail, however, he does not dispute the fact that a Committee has been constituted by the statutory authority for liquidation of liabilities and assets in order to return the deposited money to the genuine investors. 5. Having regard to the aforesaid submissions and considering the facts and circumstances of the case, particularly, considering that in order to liquidate the assets and liabilities of the said company a High Power Committee has been constituted and further considering that in similar nature of offence earlier present applicant and co-accused have already released on bail, this Court is of the view that at this juncture no purpose would be served to keep the applicant behind bar and the applicant can be released on bail. 6. 6. Accordingly, the application is allowed and it is directed that on applicant’s furnishing a personal bond in the sum of Rs.2,00,000/- (Two 4 Lacs) with two sureties for the like sum to the satisfaction of the concerned Court, he shall be released on bail on the following conditions:- (a) the applicant shall furnish details of immovable property held by him and his family members i.e. spouse and children and shall not alienate any such property before written permission of the trial Court, (b) he shall not act in any manner which will be prejudicial to fair and expeditious trial, (c) he shall appear before the trial Court on each and every date given to him by the said Court till disposal of case, (d) he shall not involve himself in any offence of similar nature in future. Sd/- (Deepak Kumar Tiwari) Judge Priyanka