The court determined that the serious allegations of financial fraud, coupled with the accused's criminal history and risk of witness tampering, justified a refusal of bail.

JUDGMENT :

G. Satapathy, J.

1. These are the bail applications U/S.483 of BNSS by the petitioners for grant of bail in connection with EOW PS Case No.03 of 2025 corresponding to CT Case No.4(C) of 2025 pending in the file of learned Presiding Officer, Designated Court, Under OPID Act,

Balasore, for commission of offences punishable U/Ss.406/409/420/467/468/471/120-B of IPC, on the main allegation of committing large scale financial fraud and misappropriation of crores of rupees by receiving disproportionate high payment for commercial transaction made with Gandhamardan Loading Agency and Transporting Co-operative Society Ltd. with forged documents after entering into conspiracy with co- accused persons.

2. The background of facts giving rise to these two bail applications are that around eighteen years back, one society namely Gandhamardan Loading Agency and Transporting Co-operative Society Ltd, Suakati, Keonjhar (hereinafter referred to as “the society”) was created for the development of the affected villages of Gandhamardan Mines, Putulipani Mines and Khandadhar Mines, but since last seven years (2017-18 to 2023-24), the president and the secretary of the aforesaid organization with assistance of others were/are doing illegal business instead of doing developmental work by taking the loading work of extracted ores from these mines to their own hand without allowing any other organization to do the same and in the process, misappropriating a sum of Rs.40 to 50 Crores annually. It is alleged that the accused persons by forging various documents and showing false expenditure under fictitious heads towards “periphery development of the affected villages and fuel charges” has allegedly misappropriated the amount, which are unearthed in a special audit conducted due to specific complaints. It is further alleged that the funds generated from the monopoly business of loading of iron ores of the society were being allegedly siphoned off by the president & secretary of the society through cash or self cheques without proper supporting document like work orders or vouchers and by not recording the transactions in the official register. On the aforesaid allegation, one Biswanath Roul has lodged an FIR before Superintendent of Police, EOW Bhubaneswar against the president Manas Ranjan Barik, secretary Utkal Das and others office bearers of the society paving the way for registration of Bhubaneswar EOW PS Case No.03 of 2025 for commission of offences punishable U/S.406/ 409/ 420/ 467/ 468/ 471/ 120-B of IPC and the matter was investigated into and finding the complicity of the petitioners, they were taken into custody giving rise to these present bail applications after they became unsuccessful in approaching the PO, Designated Court (under OPID Act), Balasore for securing their liberty.

3. This Court has heard Mr. Ashok Kumar Parija, learned Sr. counsel who is being assisted by Mr. Arnav Behera, learned counsel for the petitioner in BLAPL No.7534 of 2025; Mr. C. Kanungo & Mr. A. Mohanty learned counsels for the petitioner in BLAPL No.7952 of 2025 and Mr. Partha Sarathi Nayak, learned Addl. Public Prosecutor in these matters and perused the record.

4. In advancing argument, Mr. Parija, learned Sr. counsel has submitted that the FIR has been lodged by one Biswanath Roul who is neither a member of the society nor is he a resident of the area of operation of the society, rather he is a rank outsider and the society is a private cooperative being self-financed and has never received any aid or funds from the government and thereby, the allegation of loss of public money or state revenue is untenable and any dispute regarding defalcation or embezzlement of mo