JUDGMENT :

D.P. CHOUDHURY, J.

This is an application under section 439 of Code of Criminal Procedure, 1973 filed by the petitioner for grant of bail in connection with C.T. Case No. 03 of 2015 arising out of E.O.W., Bhubaneswar P.S. Case No.02 of 2015 pending in the court of learned 1st Additional District & Sessions Judge-cum-Designated Court, Cuttack for the alleged offence punishable under sections 420/467/468/471/406/120-B of Indian Penal Code read with Sections 4, 5 and 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and Section 6 of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.

2. The factual matrix leading to the case of the prosecution is that the petitioner was the Director of M/s. Land India Real Estate Private Limited and M/s. Land India Assets Limited. It is alleged inter alia that the present petitioner, being Director of the said Companies along with other co-accused persons, induced the general public to make deposits in different scheme of the Companies so that the amount involved would be doubled. Pursuant to the assurance, gullible depositors deposited different amount of money with the hope of receiving