Case Law Details
Mukesh Tanwar Vs. State of Haryana (Punjab High court)
As discussed above, investigation is still going on and out of total 31 accused, 10 are yet to be arrested and they are openly in league with the petitioner as well as other co-accused, who are in custody, while circulating the misleading information through social media including Whatsapp group to the effect that all are going to be released from custody very soon upon getting clean chit from the Court and as such, misguiding the victims with sole motive that the depositors may not come forward to co-operate with the ongoing investigation.
No doubt, present case is triable by the Magistrate, but at the same time, it is relevant to take note of the fact that apart from the present case, there are other 27 FIRs pending in different parts of the country against the Company as well as other accused. Petitioner is deeply involved with the syndicate for running the affairs of the Company leading to alleged fraud of more than Rs. 2956 crores, thus, by no stretch of imagination, it could be termed that he is a victim; rather petitioner clearly seems to be a beneficiary.
In view of the discussions, made hereinabove, this Court is satisfied that release of the petitioner on bail at this stage would be detrimental to the pending investigation and likely to cause serious prejudice to the case of prosecution.
Thus, taking into consideration the huge financial bungling as well as pendency of investigation against remaining 10 co-accused and to safeguard the interest of large number of victims, this Court is not inclined to grant the concession of bail to the petitioner.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
