The court emphasized that bail is the rule and jail is the exception, considering the applicant's lack of prior offenses and willingness to deposit funds.

ORDER :

1.  RULE. Learned APP waives service of rule for the respondent-State.

2. The present application is filed under Section 483 of the Bharatiya Nyaya Suraksha Sanhita, 2023 (for short “BNSS”) for regular bail in connection with FIR being C.R. No.11201016240010 of 2024 registered with CID Crime Surat Zone Police Station, Surat City for the offences punishable under Sections 409, 406, 420 and 120(B) of the Indian Penal Code, 1860 (for short “IPC”) and sections 4, 5 and 6 of the Prize Chit Money Circulation Scheme Banning Act and sections 22(1)(3), 22 and 25 of the Banning of Unregulated Deposit Schemes Act, 2019 (for short “BUDS Act”).

3. The case of the prosecution is to the effect that the accused Nos.1 to 18 made people to got themselves registered in the society known as “Shakti Multipurpose Co-op. Society Ltd.” initially at Maharashtra State and made the people to invest in various refundable plans assuring them with huge returns / profits and having succeeded in their intentions in the State of Maharashtra, accused persons during the period from 2015 to 2019 started offices at different places in Navsari and Surat and appointed accused No.19 and accused No.27 as Director and Management Committee Members as well as Branch Manager and thereby in collusion and in connivance of each other hatched criminal conspiracy and thereby lured the complainant and other victims to invest in the scheme and did not return the amount of investment and defrauded the complainant and victim to the tune of Rs.69,56,234/-. In this regard, complaint is filed and after investigation, charge-sheet is filed.

4. Learned advocate appearing on behalf of the applicant submits that applicant is innocent and has been falsely implicated in the offence and now nothing is required to be recovered or discovered as the charge-sheet has been filed. The applicant was merely working as a Managing Committee Member of the said Shakti Multipurpose Co-op. Society Ltd on salary basis. The allegation against the applicant herein is that an amount of Rs.20,00,000/- has been received in the bank account of the applicant and learned advocate for the applicant, under the instructions from the applicant, states that applicant is ready and willing to deposit an amount of Rs.20,00,000/- with the learned trial Court subject to outcome of the trial for which undertaking on behalf of the applicant is filed. He therefore submits that, considering the nature of the offence, the applicant may be enlarged on regular bail by imposing suitable conditions.

5. Learned APP appearing on behalf of the respondent-State has opposed the present application and requested to dismiss the present application for regular bail on the ground that merely filing of charge-sheet is not a ground to grant regular bail to the accused and if the applicant is granted bail then possibility of tampering with the evidence cannot be ruled out. Further, the accused persons in connivance with each other have duped victims to the tune of around Rs.70 lakh and further investigation qua other monety trail is still going on and applicant is involved in huge scam. He has therefore requested to dismiss the present application, considering the fact that the accused persons have siphoned the public money and duped poor depositors.

6. While granting bail, the Court has to consider the involvement of the accused in the alleged offence, the jurisdiction to grant bail has to be exercised on the basis of the well settled principles having regard to the facts and circumstances of each case and the following factors are to be taken into consideration while considering an application for bail: (i) the nature of accusation and the severity of the punishment and the nature of the materials relied upon by the prosecution; (ii) reasonable apprehension of tampering with the witnesses and threat to the complainant or the witnesses; (iii) reasonable possibility of securing the presence of the accused at the time of trial or the likelih