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

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ON THE 10 OF FEBRUARY, 2026 MISC. CRIMINAL CASE No. 51777 of 2025 JAGANNATH Versus THE STATE OF MADHYA PRADESH Appearance:

Shri S. K. Vyas - Senior Advocate with Shri Vikram Bhatnagar-

Advocate for the applicant.

Shri Romil Verma- G.A. for the State.

Shri Sunil Khandelval- Advocate for the complainant.

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

2] This is the applicant's first bail application filed under Section 483 of B.N.S.S./ 439 of Criminal Procedure Code, 1973, as he / she is implicated in connection with Crime No.804/2022 registered at Police Station Lasudiya, District Indore (MP) for offence punishable under Sections 420, 406 and 409 of IPC and Sections 4, 6(1) of Nikshepakon ke Hiton ka Sanrakshan Adhiniyam, 2000. The applicant is in custody since 30.07.2025.

3] The allegation against the applicant is of fraud, as it is alleged that the applicant, through his Company Swaraj India Real Estate Limited, obtained huge amount from various customers on the pretext of providing higher interest rates, and thereafter, the Company defaulted.

4] Learned senior counsel for the applica