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TMI Blog2022 (5) TMI 1649X X X X Extracts X X X X X X X X Extracts X X X X ..... more than Rs.200 Crores belongs to gullible public. In Nimmagadda Prasad Vs. Central Bureau of Investigation, [ 2013 (5) TMI 920 - SUPREME COURT ] the Supreme Court has observed that bail shall be granted by taking into consideration the facts and circumstances with gravity of offence. There is no straight jacket formula for disposal of a particular bail application and each case has its own peculiar merits. In the given facts and circumstances of the case, the case law relied upon are not applicable to the facts and circumstances of the case in hand. Keeping in view the aforesaid principles, the totality of facts and circumstances, particularly the gravity of allegations, nature of the crime and also keeping in view the fact that huge amount of public money is involved which is yet to be recovered and the investigation is still pending as learned Trial Court has allowed further investigation under Section 173(8) Cr.P.C., no ground for bail is made out, therefore, bail applications are dismissed. - Hon'ble Mr. Justice Rajnish Bhatnagar For the Petitioner : Mr. Pramod Kr. Dubey, Sr. Advocate with Mr. Prabhat Kumar Rai, Mr. Anurag Andley and Mr. Deep Naragyan Srakar, Advocates. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs numbers DP:CDSL12059200, Demat account 00118760, Trading account number 2532 and CDSL 12059200, Demat account 00180141 and Trading account number Z90 respectively. 3. Thereafter, both the complainants requested the above said persons to give the duly verified and stamped copy of the complete set of documents but the documents received by complainants were incomplete which were neither signed nor authenticated by any official of the company. Moreover the copy of the power of attorney and other relevant documents were not supplied to the complainants despite repeated reminders but instead both the person repeatedly assured the complainants that the dealings were absolutely transparent and honest and the shares are kept in the Demat account in the safe custody of CDSL. Unsuspectingly the complainants started trade transactions with the company in respective trading accounts. After few months the complainants realised that they have no information from CDSL about shareholding in the Demat account and contacted both the said persons about this legal deficiency upon which they again assured the complainants that all the shareholding are being properly maintained. Whenever the complai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he company that can be operated under the supervision of NSE and BSE. It is further submitted that the dispute between the parties is a civil dispute which has been given a criminal colour. Lastly, it is submitted that petitioner has clean past antecedents and has deep roots in the society, hence, it is prayed that bail be granted to the petitioner in both the bail applications. 7. Learned senior counsel for the petitioner has placed reliance on the following judgments:- Sunil Sakht vs. State, 2001 SCC OnLine Del 571. Sharad Kumar Vs. CBI, 2011 SCC OnLine Del 5056. Suresh Kalmadi vs. CBI, 2012 SCC OnLine Del 361. Awanish Kumar Mishra vs. State, 2021 SCC OnLine Del 4786. 8. On the other hand, learned APP for the state duly assisted by the counsel for the complainant while vehemently opposing the present bail applications submitted that allegations against the petitioner are serious in nature. It is further submitted that even after the arrest the petitioner has not cooperated with investigating agency and not provided the documents. It is further submitted that SEBI passed an ex-parte ad-interim order because the NSE and BSE were receiving various complaints against the company. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Vs. Central Bureau of Investigation, 2013 (V) AD SC 549, in which Supreme Court has observed that bail shall be granted by taking into consideration the facts and circumstances with gravity of offence. Relevant paras are as follows: 26) Unfortunately, in the last few years, the country has been seeing an alarming rise in white-collar crimes, which has affected the fiber of the country's economic structure. Incontrovertibly, economic offences have serious repercussions on the development of the country as a whole. In State of Gujarat vs. Mohanlal Jitamalji Porwal and Anr. (1987) 2 SCC 364 this Court, while considering a request of the prosecution for adducing additional evidence, inter alia, observed as under:- 5.....The entire Community is aggrieved if the economic offenders who ruin the economy of the State are not brought to book. A murder may be committed in the heat of moment upon passions being aroused. An economic offence is committed with cool calculation and deliberate design with an eye on personal profit regardless of the consequence to the Community. A disregard for the interest of the Community can be manifested only at the cost of forfeiting the trust and faith o ..... 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