Neutral Citation No. - 2025:AHC:130067 Court No. - 70 Case :- CRIMINAL MISC. BAIL APPLICATION No. - 31786 of 2024 Applicant :- Debashish Khamaru Opposite Party :- State of U.P. Counsel for Applicant :- Anjani Kumar,Jai Prakash Singh,Vyomesh Kumar Srivastava Counsel for Opposite Party :- G.A.,Sandeep Kumar Dubey Hon'ble Dr. Gautam Chowdhary,J. 1. Heard learned counsel for the applicant, Shri Jai Kishan Chaurasia, the learned A.G.A. for the State as well as learned counsel for the informant and perused the record. 2. By means of the instant bail application, the applicant, Debashish Khamaru, seeks bail in Case Crime No. 36 of 2024, under Sections 417, 419, 420, 506, 409, 120-B I.P.C., Police Station Sigra, District Varanasi. 3. Prosecution case in a nutshell is that the F.I.R. was lodged against the applicant and four other accused with the allegation that these accused run a company in the name of Wegentum Securities Pvt. Ltd. The informant invested total amount of Rs. 27,50,000/- in the company through cheque and R.T.G.S. on the promise of return amount of Rs. 35,20,000/- within one year. But after lapse of such period no amount was returned. When the informant reached the office of the company it came into light that the company is closed. When the informant contacted the applicant and his wife for return of his money, who after some time given him some cheques which became dishonour. Thus, the accused persons had duped all the amount of the informant. 4. Learned counsel for the applicant submits that applicant himself is innocent and has been falsely implicated in the case. Learned counsel further submits that the informant had invested his money through D-Mat account which amount is invested in share market where profit and loss remains open. The applicant is not denying for the said money and asking some time to refund the same as he has earlier stated in his confessional statement before the police. The applicant has not committed any fraud. The applicant is the Director of the company. The informant invested the amount in the company, but he had not given or transferred any amount in the account of applicant, as such there is no liability upon the applicant to remit the said amount. There is no direct or indirect evidence against the applicant and he has been falsely implicated in the case. 5. Per contra, learned A.G.A. as well as learned counsel for the informant while opposing the prayer for bail of the applicant have submitted that there is active participation of applicant for cheating the informant. The informant invested total amount of Rs. 27,50,000/- in the company of which the applicant is the Director but no any amount was transferred to the informant. Thus, the applicant has duped the informant under a well thought of and pre planned manner, hence, his bail application deserves to be rejected. 6. Keeping in view submissions of learned counsel for the parties, gravity of offence, nature of allegations and all the attending facts and circumstances of the case and considering the fact that the amount invested by the informant has not been returned to the informant, this Court does not find it a fit case for bail. 7. Accordingly, the bail application of applicant-Debashish Khamaru, is rejected. Order Date :- 1.8.2025 Mustaqeem. Digitally signed by :- MOHD MUSTAQEEM KHAN High Court of Judicature at Allahabad