The court's decision to grant bail was based on the contentions presented by the petitioner's counsel, indicating the importance of effective legal representation in bail applications.

JUDGMENT

Pankaj Bhandari, J. - Petitioner has filed this bail application under Section 439 Cr.P.C.

2. F.I.R. No.130/2020 was registered at Police Station Vidhayak Puri, District Jaipur for offence under Sections 420, 406, 120-B I.P.C.

3. It is contended by counsel for the petitioner that some shares were purchased by the petitioner on credit for which the payment was due on 31.07.2020. F.I.R. was lodged on 10.08.2020 and petitioner was arrested on 13.08.2020. All the demat accounts of the petitioner were freezed and his bank account was also seized, as a complaint was lodged before SEBI. It is also contended that the total amount involved is of around Rs.90,00,000/-. Petitioner has remained in custody for a period of about four months.

4. Learned Public Prosecutor and counsel for the complainant have opposed the bail application. It is contended that from the very beginning, petitioner had intention to cheat. He had given different demat accounts and after taking shares from the complainant, he transferred shares further and even after receiving the amount from there, he did not pay to the complainant.

5. I have considered the contentions.

6. Considering the contentions put forth by counsel for the petitioner, I deem it proper to allow the bail application.

7. This bail application is, accordingly, allowed and it is directed that accused-petitioner shall be released on bail provided he furnishes a personal bond in the sum of Rs.1,00,000/- (Rupees One Lac only) together with two sureties in the sum of Rs.50,000/- (Rupees Fifty Thousand only) each to the satisfaction of the trial Court with the stipulation that he shall appear before that Court and any Court to which the matter be transferred, on all subsequent dates of hearing and as and when called upon to do so.