Order on Board

09.12.2024

1. This first anticipatory bail application under Section 482 of the Bhartiya Nagarik Sanhita, 2023 has been filed by the applicant, who is apprehending his arrest in connection with Crime No. 340/2024 registered at Police Station – Old Bhilai, District – Durg (C.G.) for the offence punishable under Sections 318(4) and 3(5), of the Bhartiya Nyaya Sanhita, 2023.

2. The prosecution's case, in brief, is that the complainant approached the Old Bhilai Police Station with a written complaint alleging that Radhika Shah, a share market advisor, persuaded the complainant to open a D-MAT account with broker Anand Vikas Kumar. The complainant agreed and shared his details for opening the D-MAT account. He also deposited a total of Rs. 2,00,000/- in installments on various dates via UPI to Rakesh Kumar Bharti’s HDFC Bank account. Subsequently, suspecting fraudulent activities, the complainant demanded the details of the D-MAT account. In response, he was provided with a login ID and password and was assured that everything was in order. However, according to the rules of the National Stock Exchange (NSE) and SEBI, for investing in the share market, one must open a D-MAT account either online or ofÒine. Any broker who claims to facilitate investments in the share market without a valid D-MAT account is committing an act of cheating against the NSE and the general public. The aforementioned actions are punishable under Section 23(1) of the Securities Contracts (Regulation) Act (SCRA) and are also punishable under the Bhartiya Nyay Sanhita. Therefore, the complainant humbly requests the registration of a case against Anand Vikas Kumar and Rakesh Kumar Bharti.

3. Learned counsel for the applicant submits that the present applicant is innocent and has been falsely implicated in this case. He submits that the complainant did not get the desired profit to recover his loss he starts pressurizing the broker to return the whole invested amount and maliciously lodge complaint. However, Anand Vikas Kumar return the alleged amount Rs. 2,00,000/- to the complainant through same channel, copy of the online transaction is annexed as Annexure-A/4 and further he has no criminal antecedents, therefore, he prays for grant of anticipatory bail to the present applicant.

4. On the other hand, the learned State counsel opposes the bail application of the applicant and submits that the present applicant along with another co-accused persons have cheated with the complainant, therefore, he is not entitled to grant of anticipatory bail.

5. I have heard learned counsel for the parties and perused the case diary.

6. Considering the nature and gravity of the offence and material on record in the case diary, it appears that the the complainant initially objected to the applicant's anticipatory bail before the trial Court, which was subsequently rejected, the present bail application reveals that the complainant did not get the desired profit to recover his loss he starts pressurizing the broker to return the whole invested amount and maliciously lodge complaint. However, Anand Vikas Kumar return the alleged amount Rs. 2,00,000/- to the complainant through same channel, copy of the online transaction is annexed as Annexure-A/4, therefore, I am inclined to grant anticipatory bail to the applicant.

7. Accordingly, the instant MCRCA is allowed and it is directed that in the event of arrest of the applicant - Rakesh Kumar Bharti, on executing a personal bond and one local surety in the like sum to the satisfaction of the arresting OfÏcer, he shall be released on bail on the following conditions:-

(a) he shall not directly or indirectly make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade him from disclosing such fact to the Court.

(b) he shall not act in any manner which will be prejudicial to fair and expeditious trial.

(c) he shall appear before the trial Court on each and every date given to him by