Mridula Bhatkar, J.

1. The applications are moved for pre arrest bail as the applicants/accused are facing charges for the offences punishable under Sections 120(B) and 420 of the Indian Penal Code and under Sections 3, 5 and 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and Section 3 of Maharashtra Protection of Interest of Depositors (In Financial Establishments Act) in C.R. No. 316 of 2013 registered with Oshiwara police station, Mumbai. The offence is registered at the instance of one Gurupreetsingh Anand on 16th August, 2013.

2. It is the case of the prosecution that in the year 2000 one Vijay Ishwaran and Joseph, the founders of "QI Group" formed a company under the name and style "Gold Quest International Private Limited". The applicants/ accused also joined the said group in 2006. Gold Quest International Private Limited used to sale gold plated coins. In the year 2000 the rate of gold was Rs. 5,000/- per 10gms., however, they used to sale the gold plated coins for Rs. 30,000/- though the gold was less than 10gms. Thereafter, the purchaser of the gold coin becomes a member of the group. He was required to make more persons as the member of the G