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TMI Blog2021 (2) TMI 244X X X X Extracts X X X X X X X X Extracts X X X X ..... garb of commission. As on today, investigation is pending with the SIT, which is headed by an IPS Officer and out of total 31 accused, 21 have been arrested so far. During the course of hearing, this Court was apprised that despite repeated non-bailable warrants, remaining 10 co-accused are evading the arrest, but again their warrants of arrest have been issued for 25-9-2020 and Investigating Agency is making best efforts to apprehend them amidst Covid-19 pandemic - Since investigation in the matter is being delayed by the co-accused and that is the prime reason that charges could not be framed in the matter, thus, prosecution is not blameworthy for the delay, if any and the petitioner cannot take any benefit of the same. Consequently, the argument that incarceration of the petitioner is being unnecessarily prolonged by the prosecution is without any basis and liable to be rejected. Police-papers reveal that petitioner received an amount of more than ₹ 1.25 Crores from the Company through different bank accounts and purchased immovable properties, thus, played an active role as planner as well as chief ID promoter for this financial fraud and as such, the contention th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 8-9-2018, under Sections 420, 406, 467, 468, 471, 120B of the Indian Penal Code, 1860 (for short IPC ); Sections 4, 5, 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (for short 1978 Act ) and Section 3(2) of the Haryana Protection of Interest of Depositors (in Financial Establishment) Act, 2013 (for short 2013 Act ), registered at Police Station Sadar Fatehabad, District Fatehabad. 2. Allegations against the present petitioner are that he being one of the chief ID promoters and planner of Future Maker Life Care Pvt. Ltd. (hereinafter referred as Company ), having its Head Office at D.S.S. 45, Red Square Market, Hisar (Haryana), duped large number of persons to the tune of more than ₹ 2956 crores. Above FIR was registered on the basis of written complaint made by one Anil Sihag to the effect that Company has appointed various agents throughout country for selling its products and collected crores of rupees in cash by inducing innocent persons, thereby causing loss of tax to the Government running into crores of rupees. Innocent persons are persuaded to invest with this Chit Fund Company and instead of investing the collected amount, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rned State Counsel opposed the prayer and submitted that petitioner being chief promoter as well as planner of the Company in conspiracy with other co-accused induced the innocent public at large for making the deposit of more than ₹ 2956 Crores without obtaining any requisite license from the Reserve Bank of India or any other authority. Also submitted that there are total 28 FIRs registered against the Company in different States regarding the alleged scam and petitioner actively participated as a facilitator; received huge amount in his bank accounts and purchased immovable properties in his name from the ill-gotten money. Further submitted that as a matter of fact, Company is having no product and only running the Chit Fund activities throughout the country leading to the evasion of income-tax running into crores of rupees and an amount of ₹ 398 Crores is due on account of non-payment of the Goods and Services Tax (for short GST ). Again submitted that investigation in the matter is still going on and out of total 31 accused, 10 are evading the arrest despite non-bailable warrants. Lastly submitted that prosecution is making its best efforts for bringing all the ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppoint advisors and to open branches and in such capacity to give advice and information and render services to persons, firm, company or body incorporate or authority or government which may be given or rendered while carrying in such business as aforesaid. 4. To carry out market research, launch advertisement campaign, and to do all such things as may be necessary for the promotion of sales of any products or article. 7. After investigation, prosecution collected the information that there are total 14 chief ID promoters and 100 main promoters. Present petitioner is Chief ID promoter and common ID No. FM110621 is issued to him as well as co-accused Pardeep Kumar. Police have also recovered one Notice published in the Times of India newspaper on 27-8-2019 for inducing the general public which is as under :- LIFE turning opportunity to earn income 20k to 10 lakhs/month. For further details please call 9052402767/8919140099 There is sufficient material with the police including the statement of Pranjil Batra, Software Engineer of the Company recorded under Section 161 of Cr.P.C. to the effect that within a period of three years, the Company collected an amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10056327581 83,60,792 89,16,284 59,344 A. U. Bank, Red Square Market, Hisar 3. 1711211110522931 23,20,445 23,22,897 2452 HDFC Bank, Hisar 4. 501000081259802 16,34,472 20,11,599 - 9. It is noteworthy that as per statement of revenue Patwari of village of the petitioner, there was no land existing in his name up to the year 2015, but all of a sudden after joining the Company, he purchased agricultural land by way of two separate registered sale deeds for sale consideration of ₹ 40 Lakh and ₹ 80 Lakh in his native village without disclosing any other source of income. Still further, police have recovered ID No. FM110621 to substantiate that petitioner was working as Planner as well as chief ID promoter of the Company and played vital role in conspiracy with other co-accused while defrauding the public at large for receiving his booty under the garb of commission. As on today, investigation is p ..... 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