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IN THE HIGH COURT OF ORISSA AT CUTTACK
G. SATAPATHY
Arpan Patel – Appellant
Versus
State of Odisha (OPID) – Respondent
| Table of Content |
|---|
| 1. bail application context and factual background. (Para 1 , 2) |
| 2. arguments for and against bail application. (Para 3) |
| 3. court's analysis of conduct and bail eligibility. (Para 4) |
| 4. rejection of bail application. (Para 5) |
JUDGMENT :
1. This is the 2nd bail application U/S.483 of BNSS by the petitioner for grant of bail in connection with EOW Case No.04 of 2022 corresponding to CT Case No.03 of 2022 pending in the file of learned Presiding Officer, Designated Court under OPID Act, Cuttack, being charge-sheeted for commission of offences punishable U/Ss.406/ 420/ 467/ 468/ 471/120-B of IPC r/w Section 6 of OPID Act and 66-D of IT Act.
On the FIR of the informant, Khurda EOW Case No.04 of 2022 was registered against the petitioner and Adyajyoti Nayak, the directors of IAAVIC Pvt. Ltd. along with the Company IAAVIC Pvt. Ltd. and in the course of investigation, finding the prima facie complicity of the petitioner and co-accused in this case, they were taken into custody and, accordingly, it is ascertained in the course of investigation that 663 nos. of investors from Odisha, Gujarat, UP, MP, Karnataka, Rajasthan had made investment in this Company for around Rs.6,99,35,700
The bail application was rejected due to the petitioner's absconding and noncompliance with bail conditions, emphasizing the importance of respecting legal processes.
Bail cannot be granted when there is substantial evidence of fraud, a significant flight risk, and a history of similar offenses by the petitioner.
The court found that the petitioner had no direct involvement in financial misappropriation, warranting bail with conditions, considering her gender and pre-trial detention.
The court granted bail considering the petitioner's prolonged custody, lack of further need for custodial interrogation, and health issues while emphasizing strict conditions due to the nature of the....
The court held that bail should not be granted in serious economic offences, especially when the accused has a history of non-disclosure and the case involves significant public financial loss.
In serious fraud cases, bail may be denied due to substantial allegations, criminal antecedents, and flight risk, despite long custody periods.
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