1 2025:CGHC:55868 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR MCRCA No. 1796 of 2025 1 - Ayush Agrawal S/o Harbilas Agrawal Aged About 29 Years R/o 1, 29, Friend Colony, Kotraroad, Raigarh, District Raigarh, C.G. 2 - Pranav Agrawal S/o Harbilas Agrawal Aged About 27 Years R/o 1, 29, Friend Colony, Kotraroad, Raigarh, District Raigarh, C.G. ... Applicants Versus 1 - State Of Chhattisgarh Through Police Station Punjipathra, Raigarh, District Raigarh, C.G. ... Non-applicant For Applicants : Mr. Manoj Paranjape, Advocate along with Mr. Aditya Dhar Diwan, Advocate For Non-applicant : Mr. Soumya Rai, Panel Lawyer S.B. : Hon'ble Mr. Ramesh Sinha, Chief Justice Order on Board 17/11/2025 1. This first anticipatory bail application under Section 482 of the Bhartiya Nagarik Suraksha Sanhita, 2023 have been filed by the applicants, they are apprehending their arrest in connection with Crime No. 233/2025 registered at Police Station – Punjipathra, District - Raigarh (C.G.) for the offences punishable under Sections 420 r/w. 34 of the Indian Penal Code, 1860. 2. The case in brief is that, complainant is the uncle (chacha) of the applicants. The F.I.R. has been lodged inter alia on the allegations that, the father of the applicants namely Harbilas Agrawal along with the present applicants by 2 playing fraud got transferred 2,09,960 number of equity shares equivalent to 16.92% of the total shareholding of the company in their father's name (Harbilas Agrawal) by executing the forge gift-deed dated 16.05.2024 and share transfer deed. It has been alleged that, forged signatures have been made for execution of the gift deed. It has been further alleged that, the applicants have committed an offence of fraud in collusion with the other directors of the company. On the basis of the report, offence was registered under Sections 420 r/w. 34 of the Indian Penal Code, 1860. 3. Learned counsel for the applicants submits that applicants are innocent and have been falsely implicated in the present case and they have not committed any offence as alleged. He submits that the applicants are Directors of Rupanadham Steel Pvt. Ltd. and Banke Bihari Ispat Pvt. Ltd. and along with the applicant. There are two Directors in Banke Bihari Ispat Pvt. Ltd. namely Ayush Agrawal & Pranav Agrawal. Admittedly the complainant was holding 16.92% shares in the Banke Bihari Ispat Pvt. Ltd. which was equivalent to 2,09,960 number of equity shares. He contended that due to some family disputes earlier also, an FIR was lodged by the father of the applicants, i.e. Haribilas Agraawal against Ajay Agrawal and his family members bearing Crime No. 532/2025 on 20.08.2025 for the offences under Section 296, 115 (2), 351 (2), 118 (1) & 3 (5) of the BNS, 2023. He also submits that the applicant prior to lodging of the FIR has also sent a legal notice to the complainant. 4. He also submits that the gift-deed was executed by Ajay Agrawal and 2,09,960 shares were gifted to the applicants’ father after following the due provisions under the Companies Act, 2013 and thereafter, the complainant has also issued two notices under the provisions of Section 115 & 169 of the Companies Act, 2013 and in the said notices the complainant has clearly stated that he holds 1.50% of the total shareholding of the company in the name of Ajay Kumar Agrawal HUF and no description of 16.92% has been 3 given which shows that he had already transferred 16.92% shareholding which were in his personal name. Further, the vehicles of the company are in possession of the complainant, but the said vehicles have not been handed over and the gift-deed were also sent for Indian Forensic Investigation Laborature for genuine approval of the gift-deed. He also contended that the the complainant had already filed a petition before the NCLT Cuttack on August, 2025 regarding the holding of 2,09,960 shares and the NCLT Cuttack after taking cognizance of the matter has directed for amicable settlement against which, the parties have also submitted their proposals, and the next date for hearing before the NCLT 16.10.2025, but on 15.10.2025, the complainant and applicants, but the settlement cannot be materialized and therefore, the next date given was 11.11.2025. It is pertinent to mentioned, it is only on the date of hearing before NCLT, i.e. 16.10.2025, the FIR was registered on baseless grounds. The applicants are permanent residents of the given address, have no intention of absconding, and are willing to cooperate fully with the investigation. He submits that the dispute is purely civil in nature which has been given criminal colour by registering the FIR on false grounds. There is no evidence on record to justify their detention, and even if the allegations are taken at face value, no offence is made out for framing of charge, giving rise to every likelihood of acquittal. therefore, they prays for grant of anticipatory bail to the applicant. 5. On the other hand, learned State counsel opposes the anticipatory bail application of the applicants. 6. I have heard learned counsel for the parties and perused the case diary. 7. Considering the facts and circumstances of the case, the submissions of learned counsel for the parties, the nature of the allegations, and the material available in the case diary, it is noted that a petition is already pending before the NCLT, Cuttack between the parties and the next date was given for 4 11.11.2025 as also, the gift-deed was executed on 16.05.2024 but the FIR is registered on 16.10.2025 during the pendency of petition before NCLT, Cuttack, co-accused Harbilas Agrawal has been granted anticipatory bail in MCRCA No. 1685/2025 vide order dated 04.11.2024. Without expressing any opinion on the merits of the case, I am inclined to grant anticipatory bail to the applicants. 8. Accordingly, the instant MCRCA is allowed and it is directed that in the event of arrest of the applicants – Ayush Agrawal & Pranav Agrawal, on each of them executing a personal bond and one surety in the like sum to the satisfaction of the arresting Officer, he shall be released on bail on the following conditions:- (a) They shall not directly or indirectly make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade them from disclosing such fact to the Court. (b) They shall not act in any manner which will be prejudicial to fair and expeditious trial. (c) They shall appear before the trial Court on each and every date given to them by the said Court till disposal of the trial. (d) the applicants and the surety shall submit a copy of his adhaar card along with a coloured postcard full size photo having printed the adhaar number on it, which shall be verified by the trial Court. (e) they shall not involve themselves in any offence of similar nature in future. Sd/- Sd/- (Ramesh Sinha) Chief Justice Dey SHUBHAM DEY Digitally signed by SHUBHAM DEY