[2026:RJ-JP:12738] HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR S.B. Criminal Miscellaneous Bail Application No. 3566/2026 Sanjeev Gupta S/o Shri Shravan Kumar Gupta, Aged About 57 Years, R/o A-99, Bank Colony, Naka Madar, Police Thana Alwar Gate, Ajmer. ----Petitioner Versus State Of Rajasthan, Through Pp ----Respondent For Petitioner(s) : Mr. Sunil Kumar Singh For Respondent(s) For complainant : : Ms. Arti Sharma, PP Mr. Ajay Singh HON'BLE MR. JUSTICE PRAMIL KUMAR MATHUR Order 24/03/2026 1. The petitioner has preferred this bail application under Section 482 of BNSS in FIR No.12/2026 registered at Police Station Mangaliawas, District Ajmer for the offence under Sections 408, 420, 467, 468, 471, 379 and 120B of IPC. 2. Heard learned counsel for the petitioner and learned Public Prosecutor so also counsel for the complainant and perused the material available on record. 3. Learned counsel for the petitioner submits that the petitioner has falsely been implicated in this case. He further submits that the petitioner was merely acting as a financial consultant for the complainant and has neither committed any irregularity nor misappropriated any funds. It is argued that from the contents of the FIR, it is evident that the entire dispute pertains to internal accounts of the company, banking transactions, salary-related [2026:RJ-JP:12738] (2 of 3) [CRLMB-3566/2026] issues, and other allied matters, which are prima facie in the nature of commercial dispute. Learned counsel also submits that the complainant has deliberately given a criminal flavour to a purely civil dispute with the intention to exert pressure upon the petitioner for recovery of money. It is further contended that no custodial interrogation of the petitioner is required and the petitioner is ready to co-operate with the investigation. Therefore, it is prayed that the bail application be allowed. 4. Per contra, learned Public Prosecutor and counsel for the complainant have opposed the bail application and submit that the petitioner, being well acquainted with the financial affairs of the company, is prima facie indulged in large-scale misappropriation of funds. It is alleged that the petitioner created fictitious entries and routed money through multiple accounts, including those of his family members, and manipulated banking credentials. It is further submitted that the magnitude of the fraud is substantial, amounting to approximately Rs. 33 crores, and custodial interrogation of the petitioner is indispensable for effective investigation. Therefore, the bail application is liable to be dismissed, and the petitioner is not entitled to the benefit of anticipatory bail. 5. On consideration of the rival submissions and the material available on record, and in light of the submissions made by the learned counsel for the complainant, especially the allegations that the petitioner has misused his position and siphoned off funds through fictitious transactions and entries and manipulated accounting records. The material collected during investigation discloses the ingredients of cheating, criminal breach of trust, and [2026:RJ-JP:12738] (3 of 3) [CRLMB-3566/2026] forgery, reflecting a well-planned and systematic diversion of funds involving technical and financial intricacies. Therefore, having regard to the role attributed to the petitioner and considering the gravity, magnitude, and complexity of the alleged offences, this Court is not inclined to exercise its discretion in granting the benefit of anticipatory bail to the petitioner. 6. Accordingly, the bail application under Section 482 B.N.S.S. is dismissed. (PRAMIL KUMAR MATHUR),J BRIJ MOHAN GANDHI /77/105