JUDGMENT

1. The present petition is filed under Section 439 of the Code of Criminal Procedure, 1973 (`CrPC') seeking grant of regular bail in FIR No. 99/2017, for offences under Sections 120B/420/409 of the Indian Penal Code, 1860, registered at Police Station Economic Offences Wing.

2. The FIR was registered against M/s Alpine Realtech Private Limited (hereafter `the developer') on a complaint made by Mr. Rajesh Kumar, who is stated to be an authorized representative of Ekdant Welfare Society- formed by the fifty-one aggrieved home buyers. The applicant is one of the authorized signatories in the bank accounts of the developer and was arrested on 26.03.2023 after being decaled a proclaimed officer.

3. The members of Ekdant Welfare Society are stated to be the buyers in the group housing project namely `FNG Ekdant' (hereafter `the project'). It is alleged that the developer had committed that the project will be completed and the possession will be handed over by September, 2014. Further, the developer had also promised in case of failure to deliver the project by March, 2015, the developer shall pay every allotee at the rate of .5/sq. ft., per month for the delay in handing over the