Though alleged that the applicant had not cooperated at the initial stages and was apprehended after a lot of efforts and there are chances that he would not join the trial, the same however can be taken care of by putting appropriate conditions: Delhi High Court

BAIL APPLN. 2009/2022


The current application was filed under Section 439(Special powers of High Court or Court of Session regarding bail) of Code of Criminal Procedure, 1973 seeking regular bail in FIR No. 0071/2020 of 20.07.2020, under sections 420/406/409/411/414/467/468/471/212/120B of the Indian Penal Code, 1860 registered at Police Station Economic Offences Wing (EOW). Application before the HON’BLE MR. JUSTICE AMIT MAHAJAN.

Indian Penal Code

Section 120 B Punishment of criminal conspiracy
Section 212 Harbouring offender
Section 471 Using as genuine a forged document or electronic record.
Section 468 Forgery for purpose of cheating.
Section 467 Forgery of valuable security, will, etc.
Section 414 Assisting in concealment of stolen property
Section 411 Dishonestly receiving stolen property
Section 409 Criminal breach of trust by public, servant. or by banker, merchant or agent
Section 406 Punishment for criminal breach of trust.
Section 420 Cheating and dishonestly inducing delivery of property



The FIR was registered on a complaint by Dr. Prashant Sarin on his behalf and on behalf of his company M/s Focus Imaging and Research Center Pvt. Ltd.

It was alleged that in July, 2018, the complainant along with the other Director of his company met the applicant who was introduced as a big financer / gold and diamond merchant having a company by the name of ‘LD Group’. It was alleged that the applicant represented that he could arrange finances and loan to the complainant’s company upto a sum of ₹75 Crores at cheap lending rate of interest.

 The complainant got induced since the usual bank interest in India was much higher than what was being proposed by the applicant and other co-accused persons.

The complainant had met the applicant on various pretext such as due diligence. All such meetings took place between 1st and 10th of July, 2018. It was finally decided that LD Group would finance the ‘M/s Focus Imaging and Research Center Pvt. Ltd. (complainant’s company) a sum of ₹75 Crores in two parts. Properties were pledged with the applicant. One of such properties was mortgaged with the HDFC Bank. A MOU was entered for this purpose on 18.07.2018. The applicant also took an undated cheque for a sum of ₹75 Crores as security cheque for the loan amount. Sixty post-dated cheques amounting to ₹33,75,000/- each, towards the interest at the rate of 6% per annum on a loan of ₹75 Crores were also issued by the complainant in favour of the applicant.

The applicant had claimed to have given a cheque of ₹35 Crores on 17.08.2018 towards the first portion of loan. It was also claimed that the complainant transferred a sum of ₹80 Lakhs on 13.11.2018, 60 lakhs on 11.03.2019, 10 Lakhs on 12.04.2019, 11 Lakhs on 12.04.2019 and another sum of ₹39.50 Lakhs on a different date. Further amount of ₹4,25,50,000/- was also transferred to the applicant on a different date.

After November, 2019 the applicant then gave certain cheques for the amount taken by him from the complainant. The said cheques were presented to the bank but have been dishonored for insufficiency of funds.

Pursuant to the FIR registered on 08.01.2020 and the applicant was arrested on 16.08.2020. The chargesheet was filed on 09.11.2020 and the applicant was in custody since then.

Learned counsel for the applicant contended that the applicant has already undergone more than two years of incarceration. He submitted that the investigation in the current case, was completed long back and the chargesheet has already been filed. But even at this stage, he stated that the trial would not likely to get over in near future.



The Court having considered the facts stated that the applicant was in judicial custody since 16.08.2020 and the trial is likely to take a considerable amount of time.

The Court found no purpose by keeping the applicant in further incarceration.

Therefore, the applicant was directed to be released on bail in FIR No. 0071/2020, on furnishing a bail bond for a sum of ₹3 Lakhs with two sureties of the like amount to the satisfaction of the learned Trial Court / Duty Metropolitan Magistrate subject to the following terms and conditions:

  • The applicant should not leave the city without informing the concerned IO / SHO.
  • The applicant should surrender his Passport before the learned Trial Court and could not leave the country without permission of the learned Trial Court.
  • The applicant should provide his mobile number to the concerned IO / SHO and shall keep his mobile phone switched on at all times.
  • The applicant was required to drop a pin on the google maps application to indicate his location to the concerned IO/SHO.
  • The applicant should appear before the learned Trial Court on every date of hearing
  • The applicant should not change his address without informing the concerned IO / SHO.
  • The applicant should not, in any manner, contact the complainant or any of the witnesses.

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