ORDER :

1. The applicant, by way of this application, filed under Section 439 of the Code of Criminal Procedure, seeks regular bail in connection with the FIR being I-C.R. No. 9 of 2022 registered with CID Crime, Gandhinagar Police Station of Economic Offences Wing, for the offences punishable under Sections 406, 409, 420, 467, 468, 471, 477A, 120B of IPC.

2. Brief facts leading to filing of present application are that, the complainant Shashinbhai Patel being a Director of Sadbhav Engineering Ltd. lodged an FIR against seven persons. The accused No. 7 is Gayi Adi Management Trade Pvt. Ltd. Hyderabad. The applicant accused is the Director of accused No. 7 company. The FIR came to be lodged on 23.08.2022. The complainant availed loan from accused No. 7 M/s. Gayi Adi Management Pvt. Ltd. Company and as per the arrangement/understanding, the loan was extended to the tune of Rs. 6 crore, against which the borrower-complainant had to transfer /securitized 3183300 shares of M/s. Sadbhav Engineering Ltd. as a collateral against the loan amount and the same was reduced in writing. The transactions entered into writing in the month of January, 2020. It is further case of the prosecution that,