J.B. Pardiwala, J.

1. Rule returnable forthwith. Ms. Thakore, the learned Additional Public Prosecutor waives service of notice of Rule for and on behalf of the respondent - State of Gujarat.

2. This is an application at the instance of an accused praying for bail in connection with the First Information Report bearing I-C.R. No. 12 of 2011 registered with the D.C.B. Police Station, Ahmedabad for the offence punishable under Sections 406, 409, 420 and 120B of the Indian Penal Code. At the end of the investigation, the police filed chargesheet which culminated in the Criminal Case No. 293 of 2011 in the Court of the learned Metropolitan Magistrate, Court No. 11, Ahmedabad. The said case came to be transferred on 19th August 2016 to the Court No. 13 and has been now renumbered as the Criminal Case No. 706 of 2016.

3. The case of the prosecution may be summarized as under:

3.1 There are in all five criminal cases pending as on date against the applicant herein. The allegations in all the five cases are the same. So far as the case at hand is concerned, one Shirinben Shadikbhai Shaikh, a resident of Ahmedabad, lodged a First Information Report on 2nd June 2011 with the D.C.B. Police Station stating that she wanted to invest Rs. 50,000/-. Her sister informed the first informant that one Imtiyaz Saiyed Khambhatwala would pay her Rs. 4,500/- per month on deposit of Rs. 50,000/-. The first informant visited the Bank with Rs. 50,000/- for obtaining a Demand Draft of the said amount and at that point of time one Nasar Shaikh, serving in the Bank, advised the first informant not to deposit with or pay any amount to Imtiyaz Saiyed. Nasar Shaikh, in turn, informed the first informant that he would see to it that she would get at least Rs. 6,000/- per month on the deposit of Rs. 50,000/-. The applicant herein is running a firm in the name of "A.I.S.E. Capital Management Private Limited". The first informant was made to understand that the applicant would invest the amount in the share market and a minimum return at the rate 15% was also ensured. The first informant handed over Rs. 50,000/- to Nasar Shaikh, who, in turn, gave a letter bearing No. 871 dated 29th October 2010 of the "A.I.S.E. Capital Management Private Limited" promising an amount of Rs. 68,000/- with interest on the date of maturity i.e. on 29th January 2011. It is also alleged in the F.I.R. that Nasar Shaikh gave the first informant three vouchers of Rs. 6,000/- each and a cheque of the amount of Rs. 50,000/- drawn on the Axis Bank. It is further stated in the F.I.R. that Nasar Shaikh used to take back the vouchers at the time of paying Rs. 6,000/- and at the end of three months i.e. on the date of maturity, Nasar Shaikh took back the cheque of Rs. 50,000/- which was handed over to the first informant. Nasar Shaikh, thereafter, issued another cheque dated 29th April 2011 drawn on the Axis Bank being cheque No. 194574 and gave two vouchers of Rs. 6,000/- each. Out of the two said vouchers, Rs. 6,000/- was paid and Nasar Shaikh took away one voucher. Thereafter, Nasar Shaikh did not turn up. The first informant frantically tried to contact Nasar Shaikh, but his whereabouts could not be traced. One day, the first informant learnt having read a news item published in a newspaper that the firm of the applicant herein had gone bankrupt. The applicant defaulted in making the payments as promised. According to the first informant, Nasar Shaikh once again came at her house and assured that her money would be paid back to her.

4. It appears that five such F.I.Rs. came to be filed including the one at hand.

5. The applicant herein came to be arrested on 17th November 2012. The applicant came before this Court with a plea for bail by filing the Criminal Miscellaneous Application No. 2099 of 2015. This Court, vide order dated 4th February 2015 rejected the application observing as under:-

"1. By this application under Section 439 of the Code of Criminal Procedure, 1973, the applicant