IMPORTANT POINT
Bail – Court is only required to look at prima facie case and is not required to look into test of guilt – It is required to maintain delicate balance between judgment of acquittal and conviction and order granting bail before commencement of trial.

JUDGMENT

This application is arising out of PMLA Case No.47 of 2017 arising out of ECIR No.7 of 2009, pending before the Special Judge, C.B.I., Bhubaneswar wherein the petitioner has been implicated and charge sheeted for commission of alleged offences punishable U/s.3 of the Prevention of Money Laundering Act, 2002, in connection with CBI EOW P.S. Case No. PMLA Case No.47 of 2017 arising out of ECIR No.7 of 2009.

I. Factual Matrix of the Case:

2. The prosecution case as alleged in nutshell is that one Niranjan Sahu lodged the FIR alleging that in the month of September he deposited a sum of Rs.10,000/- in M/s. Fine Indi Sales Pvt. Ltd., Kanpur (herein after referred to as M/s. FIPL) in their Multi Level Marketing Scheme (herein after referred to as MLM Scheme) towards product booking. One Somnath Panda had introduced the informant about the process of this business and also managed to induct him into this business. Accordingly with a hope to get benefit, the informant joined the business and also received online money receipt time to time, but has not received either the products or the product vouchers. It is also mentioned that as per his knowledge one Amiya Kumar Pani had started the business in Odisha and afterwards one Manmath Kumar Panda had sponsored one Srijukta Pitamber Raj of Balasore. After getting returns for three to four months the informant had made a top up of Rs.40,000. Till this date the informant has made to join around twenty people in this business and has given a deposit of Rs.5,00,000/-.

3. As per the Company Rules and Regulations so also online guidelines, after opening an account in ICICI Bank, the informant transferred money through cheques into Company account from his own account and after getting the Payment Verification Code no. through email, he made people to join the business online. Many people from far and near have made product bookings and are getting bonus. As some people have no Bank accounts in the aforesaid bank, the petitioner had deposited his money in his account and transferred the same to Company’s account. As per Company system a person receives a sum of Rs.1000 per month if he makes a product booking of Rs.10,000 and after deduction of TDS receives a sum of Rs.897 in core banking account. It is alleged that as per agreement of the Company, product or product voucher have not been supplied till date. The informant had joined the Company with a belief that it is a product based business, but instead of getting the products, the informant was getting money every month. On the basis of above allegation FIR was lodged as Sahadevkhunta P.S. Case No. 118 of 2009 against officials of M/s FIPL for commission of offences under section 406/420/468/471/34 of IPC and section 4/5/6 of Prize Chit and Money Circulations Scheme (Banning) Act, 1978 and investigation started.

4. On the very next day, the said FIR no.118/09 registered on the complaint of Niranjan Sahu was transferred to the Crime Branch and FIR no.17/09 was registered at P.S. CB-CID u/s 406/420/468/471/34 IPC and Sections 4, 5 & 6 of the Prize Chits & Money Circulation Schemes (Banning) Act, 1978.

5. In course of investigation of the aforesaid case, one Writ Petition was preferred by President of M/s All India Networks Welfare Trust, a registered trust of duped and gullible thousands and thousands of investors of Karnataka, Tamil Nadu and Andhra Pradesh, with a prayer to protect the fund of investors. This Court in the aforesaid Writ Petition bearing WP(C) No.7693 of 2011 vide i