B.A. Patil, J.

The present petition has been filed by the petitioner-accused No.4 under Section 439 of Cr.P.C to release him on regular bail in Crime No.177/2018 of Jayanagar Police Station (Spl.C.C.No.105/2018) for the offences punishable under Sections 409, 420, 120(B) read with Section 34 of IPC, Sections 4, 5 and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and Section 9 of the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004.

2. I have heard the learned counsel for the petitioner and Sri Jagadeesha. B.N, learned Special Public Prosecutor for respondent-State.

3. The genesis of the case of the prosecution is that one D.T.Naveen Nanda filed a complaint alleging that M/s. Ajmeer Group Firm collected deposit of Rs.30.00 Crores from nearly 4000 customers with an intention to cheat the general public. Petitioner-accused No.4 and other two persons were partners and action may be taken in this behalf. On the basis of the complaint, a case has been registered.

4. It is the submission of the learned counsel for the petitioner that the petitioner-accused No.4 is an employee, being an employee of accused No.1-Firm he is