IN THE HIGH COURT OF MADHYA PRADESH AT INDORE BEFORE HON'BLE SHRI JUSTICE SANJEEV S KALGAONKAR

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ON THE 9 OF FEBRUARY, 2026 MISC. CRIMINAL CASE No. 59898 of 2025 SACHIN Versus THE STATE OF MADHYA PRADESH Appearance:

Shri Manish Yadav - Advocate for the applicant.

Shri Ayushyaman Choudhary - Govt. Advocate for the respondent/State.

ORDER This first application has been filed by applicant under Section 483 of BNSS, 2023 for grant of bail in connection with Crime No.81/2017 registered at Police Station Nagda, District Ujjain (M.P.) for offence punishable under Section (s) 420, 467, 468, 120-B of IPC and under Section 3/6 of The Madhya Pradesh Nikshepakon ke Hiton ka Sanrakshan Adhiniyam, 2000. The applicant is in judicial custody since 30.06.2017.

Heard the arguments.

Perused the grounds for grant of bail stated in the application, case diary and the relevant material on record.

Learned counsel for the applicant, in addition to the grounds mentioned in the application, submits that the applicant is falsely implicated in the alleged offence for the reason that he is alleged to be Director of BNG Global India Limited Company. There is no allegation that applicant induced anyone to invest in any Company. There is no direct accusation against the applicant. He is implicated on information by co-accused in police custody. The final report has been submitted on completion of investigation. As per the status report, only 31 prosecution witnesses out of 69 enlisted witnesses could be examined till date. The trial is delayed and would take time to conclude. There is no likelihood of tampering with evidence by the applicant for the reason that material prosecution witness have been examined.Co-accused Dashrathhas been extended benefit of bail vide order dated 29.08.2022 passed in M.Cr.C. No. 40208/2022. Jail incarceration is causing hardship to the applicant and dependent family.

Applicant is ready to cooperate in further trial.

Per Contra, learned counsel for the State opposes the application on the ground of gravity of alleged offence. She further submits that it is a case of fraud with many investors, therefore, the applicant may not be extended benefit of bail. Learned counsel further refers to 03 criminal antecedents against the applicant, as mentioned in the case diary. The applicant is aged around 34 years(as per arrest memo) and is a Director of a Company.

In reply, learned counsel for the applicant submits that the other matters are pending for trial. He has never been convicted.

As per the accusation on record, Rani Sheikh alongwith Mumtaz Bi, Narendra Kumar, Hukum Singh, Prakash Rathore, Kaluram, Manaklal, Radheyshyam, Jujharlal, Laxminarayan, Raghuveer SIngh, Shivnarayan, Girriraj, Santosh, Ashish Kumar and Prem Singh submitted a joint written complaint to the SHO, P.S. Nagda, District Ujjain(M.P.) that Radheshyam, Atoliya, Dashrath, Raju, Nandkishore, Prakash, Bherulal and Pyarji induced them to invest in B.N. Gold Sai Prasad Company on promise of handsome profit and doubling their investment in five years. Accordingly, they and other family friends deposited the money. They were issued Fixed Deposit and Recurring Deposit receipts by Radheshyam, Atoliya, Dashrath, Kailash, Nandkishore and Bherulal. Later, they were informed that the Company has closed the operation and fled away with the invested money. The P.S. Nagda registered FIR for offence punishable under Sections 420, 120-B of IPC and Section 3/6 of M.P. Nikshepakon ke Hiton Ka Sanrakshan Adhiniyam. The investigation revealed that the applicant Sachin was one of the Director of B.N. Gold SaiPrasad Company. The applicant was arrested on 30.06.2017. He is in custody ever since. On completion of investigation, final report was submitted. Section 467 and 468 of IPC were further added. The trial is underway. Apparently, the trial is delayed. Thirty Eight (38) prosecution witnesses are yet to be examined. The trial would take time to conclude. The contentions advanced by the applicant