( 1 ) CHARGESHEETED for offences punishable under Sections 406/420/467/468/471/506/120-B IPC, the petitioner, Vijay Khanna, by moving instant petition, seeks his release on bail.

( 2 ) IN response to an advertisement emanating from the petitioner-accused, one Tarsem Goyal came in contact with the petitioner-accused who claimed himself to be the proprietor of M/s. Viva Vision , E-224, Sanik Farm, New Delhi. Misrepresenting himself as an agent of a USA based buyer and also as consultant and agent of certain London based companies, the petitioner-accused promised to secure orders for export of carpet, durries, bed covers, worth Rs. 1. 2 crores to USA based buyer in connivance with his co-accused Kirpal Singh, General Manager of M/s. International Trade Factors Limited (ITFL), New Delhi. He got letters of credit opened with an intent to make said Tarsem Goyal (complainant) believe that he was there to help him in supply of his goods and in securing his payments. He is alleged to have cheated the complainant of Rs. 31 lakhs on the pretext of arranging letters of credit for export of aforesaid goods. He approved the samples and entered into three memoranda of understandin