Delhi HC Rejects Anticipatory Bail Over Alleged Fund Diversion & Forged Work Order

Pankaj Sharma Vs State Govt. of NCT of Delhi (Delhi High Court)

Summary: The Delhi High Court considered two connected petitions for anticipatory bail filed by Pankaj Sharma and Nidhi Nehra Sharma under Section 438 of the Code of Criminal Procedure, 1973 in FIR No. 237/2024 registered at Police Station Vasant Kunj North for offences under Sections 420/468/471/34 of the Indian Penal Code, 1860. Since both petitions arose from the same FIR and identical allegations, they were heard and disposed of by a common order dated 07.09.2026. The prosecution case was that, following disputes concerning Bulwark Facilities Management Private Limited, the petitioners represented that they could assist in settling the company’s liabilities, introduced co-accused persons for accounts and IT work, and were involved in transactions involving approximately Rs. 68,10,417/- transferred to D4N Technologies Private Limited and Caldera Solutions Private Limited and approximately Rs. 1,30,80,000/- received from the complainant and his wife.

The prosecution alleged that these amounts were diverted for personal benefit and that a purported NBCC work order valued at approximately Rs. 11 crores, shown to the complainant in connection with security and housekeeping services, was forged and fabricated. The petitioners contended that the matter was essentially commercial, relied on invoices, ledgers, bank statements, GST records and WhatsApp communications, asserted that they had joined the investigation on approximately 30 occasions, and argued that no custodial interrogation or recovery remained necessary. They also disputed the allegations concerning D4N, Caldera and the purported NBCC work order and pointed to alleged inconsistencies concerning the Rs. 1,30,80,000/- transaction.