CRM-M No.31332 of 2026 -1- IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH 242 CRM-M No.31332 of 2026 Date of decision: 08.07.2026 Devender Verma ... Petitioner Vs. State of Haryana ... Respondent CORAM: HON'BLE MRS. JUSTICE MANISHA BATRA Present:- Mr. Ritesh Tomar, Advocate, for the petitioner. Mr. Neeraj Poswal, AAG, Haryana, for the respondent-State. Mr. Nishant Indal, Advocate, for the complainant. ---- MANISHA BATRA, J. (Oral) 1. The present petition has been filed by the petitioner under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (for short ‘BNSS’) seeking regular bail in the FIR mentioned below:- FIR No. Dated Police Station Sections 0106 25.02.2026 DLF, District Gurugram, Haryana 420 of IPC 2. Brief facts relevant for the purpose of disposal of this petition MANJU 2026.07.08 16:27 I attest to the accuracy and authenticity of this order /judgment Chandigarh CRM-M No.31332 of 2026 -2- are that the aforementioned FIR was registered against the petitioner on the allegations that the petitioner while representing that he was involved in online trading, had induced the complainant to invest money with him by alluring that he would give profit to the extent of 20-30% to him. On being so induced, the complainant parted with a sum of Rs.05 lakhs in favour of the complainant in the year 2022. He received monthly returns for some time and then the petitioner informed the complainant that he had left the company with whom he was working on account of fraud committed by the same and their account had been closed. Then by introducing him to a new company, he had made the complainant invest further amount of money total amounting to Rs.2.73 crores. However, after giving back profits of only about Rs.20 lakhs, the petitioner stopped paying so and also did not return the principal money so invested by the complainant. By alleging that he had been duped at the hands of the petitioner, the complainant prayed for taking action in the matter. 3. After registration of FIR, investigation proceedings were initiated. It was revealed that the petitioner had transferred the money received from the complainant to different bank accounts. Certain other persons were nominated as accused. The petitioner was arrested on 25.04.2026. Investigation qua him stands concluded. 4. It is argued by learned counsel for the petitioner that he has been falsely implicated in this case. Infact, on account of long standing MANJU 2026.07.08 16:27 I attest to the accuracy and authenticity of this order /judgment Chandigarh CRM-M No.31332 of 2026 -3- relationship between the petitioner and the complainant, the latter had voluntarily invested money with him from time to time starting from the year 2022. The transactions of money which took place between them were part of ongoing financial dealings and not on account of any inducement. The petitioner had also invested his own money in the trading. On account of closure of Finowiz Limited Company by committing fraud by its directors etc., the account of the complainant as well was closed. There was never any inducement on the part of the petitioner to invest money with other companies. The complainant had received profits on the invested amount previously. The entire case is based on documentary evidence. The dispute is commercial in nature and has been given a criminal colour. Now a settlement has been arrived at between the complainant and himself and a Memorandum of Understanding (MOU) has been executed whereby the petitioner has acknowledged his liability to pay an amount of Rs.4,85,00,000/- arising of transaction of Rs.2,73,50,000/- invested by the complainant. He is in custody since 25.04.2026. On account of mutual settlement and to abide by the terms of the same, the petitioner deserves to be released on bail. He has a permanent abode. There are no chances of his absconding. His continued detention would not serve any useful purpose. It is, therefore, argued that he deserves to be released on bail. 5. Learned counsel for the complainant while affirming the fact MANJU 2026.07.08 16:27 I attest to the accuracy and authenticity of this order /judgment Chandigarh CRM-M No.31332 of 2026 -4- that MOU has been signed between the parties has argued that since the petitioner had previously tried to abscond and had been arrested from airport, therefore, he is a flight risk and has, therefore, submitted that his passport may be directed to be surrendered. He has, however, not raised any serious objection to the prayer made by the petitioner for release on bail while submitting that the terms of MOU have yet not been honoured by the petitioner. 6. Learned State counsel, on the other hand, has vehemently argued that the allegations against the petitioner are serious in nature as he induced the complainant to invest a sum of Rs.2.73 crores with some companies. He had got transferred the funds received from the complainant to other bank accounts through his business partner Aditya Tiwari. There are chances of his absconding or committing similar offences, if extended benefit of bail. It is, therefore, argued that the petition does not deserve to be allowed. 7. This Court has considered the rival submissions. 8. The petitioner is alleged to have induced the complainant to part with a huge amount of money with criminal intent to cheat him and duped him of the said amount. The allegations make out a prima facie case for commission of subject offences against him. Though much relevance cannot be given to the settlement/MOU as executed between wife of the petitioner and the complainant, however, keeping in view the MANJU 2026.07.08 16:27 I attest to the accuracy and authenticity of this order /judgment Chandigarh CRM-M No.31332 of 2026 -5- nature of the allegations as levelled against the petitioner, the fact that the subject offence is triable by Magistrate as well as keeping in view the period of his incarceration, this Court is of the considered opinion that the petitioner has made out a case for release on bail. Accordingly, the petition is allowed and the petitioner is ordered to be admitted to bail subject to his furnishing personal bonds as well as surety bonds by two sureties in the like amount each to the satisfaction of learned trial Court/CJM/Duty Magistrate concerned and on the following conditions:- (i) The petitioner shall appear before the learned trial Court on each and every date of hearing except when his presence is exempted by the learned trial Court. (ii) The petitioner shall deposit his passport, if any, with the learned trial Court. (iii) The petitioner shall not directly or indirectly make any inducement, threat or promise to any person acquainted with the facts of the case or tamper with the evidence of the case in any manner whatsoever. (iv) The petitioner shall not leave the country under any circumstance without permission of the learned trial Court. (v) The petitioner shall provide his permanent address as well as present address before the learned trial Court at the MANJU 2026.07.08 16:27 I attest to the accuracy and authenticity of this order /judgment Chandigarh CRM-M No.31332 of 2026 -6- time of furnishing of bonds and shall not change the same without informing the trial Court. (vi) The petitioner shall also give copy of his Aadhar Card, PAN Card if any and details of his mobile phone number(s) to the Investigating Officer/SHO concerned as well as before the learned trial Court at the time of furnishing of bonds and in case, any change in his mobile phone number takes place, then he shall inform about the same to the learned trial Court in advance and shall keep his mobile phone switched on at all times during trial. 9. In the eventuality of breach of any of the aforementioned conditions, the respondent-State shall be at liberty to move an application seeking cancellation of the bail. 10. It is made clear that any observation made herein above is only for the purpose of deciding the present petition and the same shall have no bearing on the merits of the case. (MANISHA BATRA) 08.07.2026 JUDGE manju Whether speaking/reasoned Yes/No Whether reportable Yes/No MANJU 2026.07.08 16:27 I attest to the accuracy and authenticity of this order /judgment Chandigarh