JUDGMENT :

Swarana Kanta Sharma, J.

JUDGMENT

SWARANA KANTA SHARMA, J.

1. The instant application under Section 438 of Code of Criminal Procedure, 1973 has been filed seeking grant of bail to the applicants who are apprehending their arrest in connection with FIR No. 32/2021, registered under Sections 420/406/120B/34 of Indian Penal Code, 1860, at Police Station Dwarka-South, Delhi.

2. The FIR was registered at the instance of one Mrs. Rashmi Batra who in her complaint had alleged that the applicants had cheated her and several other persons by fraudulently taking money on the pretext of various investments and promising high rates of return on such investments ranging between 18% to 20% per annum. It was also stated that the applicants had represented that they were engaged in some wholesale as well as real estate business in Punjab and were well-known persons in the locality. Initially to gain the trust of the victims, the applicants had returned the money of some of the investors with the promised rate of return but the victims were again made to reinvest in some other investment schemes with more lucrative returns. However, this time, the accused persons succeeded in collecting huge amounts from the victims, but they neither gave any return on the investments nor returned the principal amount. Subsequently after registration of present FIR, the investigation of the case was transferred to Economic Offences Wing Delhi in February, 2021. During the course of investigation, more complaints having similar set of allegations also emerged. All these complaints were clubbed together and as of now, as per prosecution, there are a total of 30 complainants having been duped of more than Rupees Eight crores. During the investigation, the statements of the complainants were recorded wherein it was revealed that the said process of cheating had started somewhere around in the year 2016-17. It was stated that the applicants used to meet the victims as well as their relatives and friends at different locations to explain their investment schemes and also used to arrange lunch parties, distribution of gifts etc. to win the confidence of these people. It was also revealed that during these gatherings and parties, money was collected from the victims by way of cash, without issuing any receipts against the same. It was stated that even during the period of Covid-19 lockdown, the applicants were successful in persuading the complainants to part away with their money for the said investment schemes.

3. Learned counsels for applicants/accused persons, during the course of hearing of present application, stated that they were ready to deposit the original title documents of three immovable properties mentioned in the status report as well as in their petition. Later, it was also argued by learned counsels for the applicants that as per several judgments of the Hon’ble Supreme Court, the learned Sessions Judge could not have imposed any condition regarding depositing the amount as has been mentioned in the order dated 18.01.2021. It is therefore, stated that the present applications be allowed.

4. It is also submitted by learned counsels for applicants that applicants have been appearing and cooperating with the investigating agencies throughout and recovery of all the relevant documents and items has already been affected from their house. It is also averred that many complainants were even given back their money and a few of the complainants had also filed civil suits for recovery, and these facts have not been disclosed by the State.

5. Opposing the present bail application, learned ASC for the State submits that a verification report was filed by the prosecution, as per which, the properties in question do not have any clear title except for the one which is situated at Maya Puri, however, the same also is a subject matter of litigation filed by the applicant against one of the tenants of the said property for eviction of the shop in which he is