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IN THE HIGH COURT OF ORISSA AT CUTTACK
G. SATAPATHY
Saiyad Jiyahjur Rahaman – Appellant
Versus
State of Odisha (OPID) – Respondent
| Table of Content |
|---|
| 1. bail application details and allegations (Para 1 , 2) |
| 2. arguments for and against bail (Para 3) |
| 3. court's analysis and discretion in bail (Para 4 , 5) |
| 4. rejection of bail application (Para 6 , 7) |
JUDGMENT :
G. Satapathy, J.
1. This is a bail application U/S.483 of BNSS by the petitioner for grant of bail in connection with EOW Bhubaneswar PS Case No.7 of 2024 corresponding to CT Case No.17 of 2024 pending in the file of learned Presiding Officer, Designated Court under OPID ACT , Cuttack, for commission of offences punishable U/Ss.406/ 420/ 467/468/ 471/ 120-B of IPC r/w Section 6 of OPID ACT .
2. The facts given rise to this bail application are that the petitioner-Saiyad Jiyahjur Rahaman being the CEO of M/s. LFS Broking Pvt. Ltd., a partner of MOL Group, Kolkata has floated different schemes and allured investors to invest money on the guarantee of high returns and it is alleged that during June, 2022, LFS Broking & PMS Service and its sister concerns namely LFS Broking Pvt. Ltd. enters into share market trading and gold business and allured the investors by floating an advertisement of various lucrative schemes including 2% monthly interest on the investment o
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 bail application was rejected due to the petitioner's absconding and noncompliance with bail conditions, emphasizing the importance of respecting legal processes.
In serious fraud cases, bail may be denied due to substantial allegations, criminal antecedents, and flight risk, despite long custody periods.
The court balanced the right to personal liberty with the need for the accused's presence at trial, emphasizing that continued custody should be based on the risk of interference in the administratio....
The court found that the petitioner had no direct involvement in financial misappropriation, warranting bail with conditions, considering her gender and pre-trial detention.
Bail should not be denied solely based on the seriousness of the charges; considerations must include the necessity of ensuring the accused's presence at trial and not obstructing justice.
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