IN THE HIGH COURT OF MADHYA PRADESH AT INDORE BEFORE HON'BLE SHRI JUSTICE SUBODH ABHYANKAR

th

ON THE 27 OF JANUARY, 2026 MISC. CRIMINAL CASE No. 59890 of 2025 VIRENDRA SAXENA Versus THE STATE OF MADHYA PRADESH Appearance:

Shri Nitin Singh Bhati - Advocate for the applicant.

Shri Harish Singh Rathore - G.A. for the State.

Shri Ashish Agrawal - Advocate for the respondent [OBJ].

ORDER

1. They are heard. Perused the case diary / challan papers.

2. This is first bail application filed by the applicant under Section 483 of Bhartiya Nagrik Suraksha Sanhita, 2023 (439 of Cr.P.C.) as he/she is implicated in connection with Crime No.401/2025 registered at Police Station M.G. Road, Indore (MP) for offence punishable under Section 316(2)

and 318(4) of BNS, 2023. The applicant is in custody since 10/12/2025. 3. The allegation against the applicant is of fraud to the tune of Rs.9,77,25,000/- with as many as 16 persons, who invested in share market through the applicant as the applicant had lured them of high returns.

4. Counsel for the applicant has submitted that the applicant is engaged in the business of trading of equity/commodity through SEBI registered brokers on registered stock exchanges, and th