ORDER

They are heard. Perused the case-diary.

This is the first bail application filed by applicant under Section 438 of Criminal Procedure Code, 1973 for anticipatory bail as the applicant is apprehending his arrest in connection with Crime No.13/2023 registered at Police Station - Crime Branch Indore, District- Indore (MP) for offence punishable under Sections 409, 420,120-B of IPC.

The allegation against the applicant is that he was also involved in the aforesaid offence wherein, a sum of Rs.24 Lakhs has been defalcated by the applicant and the other co-accused persons by enticing the innocent investor to invest the money through them.

Counsel for the applicant has submitted that the applicant has been falsely implicated in the case as he was an employee of the investment company known as IBFM. His appointment letter has also been placed on record in which, it is stated that the applicant's annual gross salary would be Rs.1,68,000/-. It is further submitted that the applicant was appointed on 10.7.2018 and has resigned from the company on 7.1.2021. However, it is also admitted that after his resignation from said company, the applicant has also received a total sum of Rs.60,750/- on various dates from the complainant and the applicant assumed that the said amount has been credited in his account as there was certain dues pending from the company. Thus, it is submitted that the applicant is an educated person and if he is arrested, irreparable injury could be caused to him and his future prospects would be jeopardized. It is also submitted that co-accused Bhuvaneshwar has already been granted regular bail by this Court in M.Cr.C.No.15992/2023 vide its order dated 20.4.2023 on depositing of a sum Rs.7.5 Lakhs. Thus, it is submitted that the application for anticipatory bail be allowed.

Counsel for the respondent / State, on the other hand, has also opposed the prayer. It is submitted that even after the applicant resigned from the said company he used to converse with the clients of the company and that is why the amount has been directly credited in his account.

On due consideration of the rival submissions and on perusal of the case diary, considering the fact that the only the allegation against the applicant is that an amount of Rs.60,750/- has been credited in his account, including the documents filed on record and also considering the fact that the applicant was a salaried employee of the company, this Court finds it expedient to allow the present anticipatory bail application, as the custodial interrogation of the applicant is not necessary. Thus, without reflecting anything on the merits of the case, the application filed under Section 438 of Cr.P.C. on behalf of the applicant is hereby allowed subject to deposit a sum of Rs.60,750/- (Rupees Sixty Thousand Seven Hundred Fifty only), and the said amount shall be subject to the final outcome of the case by the trial Court.

Accordingly, this application is allowed. It is directed that upon depositing a sum of Rs.60,750/- (Rupees Sixty Thousand Seven Hundred Fifty only) by the applicant within a period of three weeks in a fixed deposit in a nationalized bank and producing the receipt/certificate of the same before the concerned trial Court, in the event of arrest, applicant shall be released on bail, upon his executing a personal bond in the sum of Rs.25,000/- (rupees Twenty Five thousand only) and furnishing one solvent surety in the like amount to the satisfaction of the Arresting Officer (Investigating Officer). The deposit receipt/certificate so produced by the applicant shall be endorsed by the learned Judge of the lower Court to be, 'furnished towards the bail of the applicant and shall be subject to the final decision of the case by the trial Court'.

The applicant shall make himself available for interrogation by a Police Officer, as and when required. He shall further abide by the other conditions enumerated in Sub Section (2) of Section 438 of the Code of Criminal Pro