2025:CGHC:61057 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR MCRC No. 10373 of 2025 Sandeep Shankar Saxena S/o Shri Hari Shankar Saxena Aged About 54 Years R/o 24, Mahadev Nagar Extension (Wrongly Mentioned As Saxtention), Sodala, Jaipur Rajasthan.

... Applicant versus State of Chhattisgarh Through P.S. Bemetara District Bemetara Chhattisgarh.

... Non-applicant For Applicant : Mr. Bharat Lal Dembra, Advocate For Non-applicant/State : Mr. U.K.S. Chandel, Deputy A.G.

Hon'ble Shri Ramesh Sinha , Chief Justice

Order on Board

15.12.2025

1. This is the first bail application filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (for short ‘BNSS’) for grant of regular bail to the applicant who has been arrested in connection with Crime No. 239/2017 registered at Police Station Bemetara District Bemetara (C.G.) for the offences punishable under Sections 420 and 409/34 of the IPC, Sections 3 and 4 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, and Section 10 of the Chhattisgarh Protection of Depositors’

RAHUL DEWANGAN Interest Act, 2005.

Digitally signed by RAHUL DEWANGAN

2. The case of the prosecution in brief is that the complainants namely Dhirendra Sahu, Hireshwari Sahu and others lodged a written report alleging that in the year 2010, agents of Sai Prakash Development Company approached them and offered certain investment schemes, pursuant to which they invested money; however, even after the expiry of a period of six years, the promised returns were not paid, and therefore the present report was lodged. Upon receipt of the said complaint, the police initiated investigation and registered an FIR on 16.04.2017 against the Director of Sai Prakash Properties Development Limited, namely Pushpendra Baghel, and after completion of the investigation, filed a charge- sheet on 26.04.2022 before the Special Judge, PDI Act, Bemetara, for offences punishable under Sections 420, 409 and 34 of the IPC and Sections 3 and 4 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, as well as Section 10 of the Chhattisgarh Protection of Depositors’ Interest Act, 2005, initially against accused Mrigendra Singh Baghel and subsequently against the other Directors of the said company, a copy of the FIR is filed herewith as Annexure A/3.

3. Learned counsel for the applicant submits that the applicant has been falsely implicated and the allegations against him are wholly baseless. It is submitted that pursuant to the order dated 07.10.2025 passed by this Hon’ble Court in Cr.M.P. No. 3042/2025, wherein the permanent arrest warrant was directed to be kept in abeyance, the applicant voluntarily surrendered before the trial court on 28.10.2025 and moved a bail application, which was rejected without proper appreciation of the documents placed on record. He further submits that the trial court erred in rejecting the application merely on the ground that the applicant was a Director at the relevant time, despite the fact that the documents showing his resignation and non-involvement were neither considered nor discussed. It is further submitted that no allegation of active participation or involvement in the financial affairs of the company has been attributed to the applicant, and even the SEBI enquiry has not found any material showing his involvement in money-mobilizing activities. The applicant had served as a Director only for a very brief period from 03.12.2009 to 22.04.2010, after which he resigned, his resignation was duly accepted, and Form-32 was submitted by surrendering his shares; hence, no prima facie case is made out against him. It is further argued that investigation has been completed, the charge sheet has been filed, and no further custodial interrogation is required. He further submits that the applicant has five criminal antecedents, out of which four cases in Rajasthan have already been disposed of, and one case pending in Durg, Chhattisgarh, in which he has already been granted bail by this Ho