222 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Kuldeep Singh Maan @ Kuldeep Maan ….Petitioner versus State of Haryana ….Respondent Date of decision: December 11, 2025 Date of Uploading: December 11, 2025 CORAM: HON’BLE MR. JUSTICE SUMEET GOEL Present:- Ms. Neha Shukla, Advocate for the petitioner.

Ms. Priyanka Sadar Thakur, Senior DAG Haryana.

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SUMEET GOEL, J. (ORAL)

Present third petition has been filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (for short ‘BNSS’) for grant of regular bail to the petitioner in case FIR No.469 dated 04.10.2018, for the offence punishable under Sections 406 & 420 of the IPC (Section 506 read with Section 34 of IPC, Section 120-B of IPC and Section 3 of the Haryana Protection of Interest of Depositors in Financial Established Act, 2013 added later on), registered at Police Station Pehowa, District Kurukshetra.

2. The gravamen of allegations against the petitioner is that a complaint bearing No.469-NAD dated 28.07.2018 was received by post from the DIG of Police, Haryana, Chandigarh, seeking legal action against Jaswinder Mann (son of Jagtar Singh, DMD), Kuldeep Mann-petitioner herein (son of Jagtar Singh Mann, MD), Malkiat Mann (son of Jagtar Singh, Director), and Indu Rani (wife of Kuldeep Mann, Director), all associated with Alpine Agriculture Land Developer Limited, residing at House No.76- B/6, Virk Colony, Patiala, Punjab, and House No.209, Bajwa Colony, Gali No. 5, Patiala, Punjab, in connection with allegations of cheating.

It was alleged that in March 2013, the accused arrived in the Pehowa area with fraudulent intentions and came into contact with the complainants. Acting according to their plan, the accused arranged meetings and introduced their company—Alpine Agriculture Land Developer Ltd.— claiming that it was recognized by the Ministry of Corporate Affairs and that they had undertaken large liquidation ventures worth crores under the Ministry. The accused then persuaded the complainants and others to invest money in their company, promising substantial returns. They allegedly offered commissions ranging from 4% to 15% if the complainants brought in investments from their friends and relatives, and further assured interest at the rate of 18% per annum on invested amounts. The accused also opened an office in the Super Market, Pehowa, and appointed Jaswant Singh (now deceased) as the Manager.

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Based on these representations, Sukhdev Singh invested 20 ₹

lakhs; Raj Kumar invested 23 lakhs of his own and his relatives’ money;

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Rohit invested 2,86,600/- of his own and his relatives’ money; and Suresh Kumar, Puran Chand, along with several others, made similar investments. However, it is alleged that the accused cheated all the investors and failed to pay even a single penny upon maturity of the investment. Subsequently, the accused closed their office and allegedly issued threats to the complainants and other investors.

3. Learned counsel for the petitioner has argued that the petitioner is in custody since 28.12.2020. Learned counsel has further argued that the petitioner has been falsely implicated into the FIR in question. Learned counsel has iterated that once business module of the petitioner failed, various investors/ depositors have a case registered against him. Learned counsel has further iterated that there was never ever any intention of the petitioner to cheat anybody, but it is solely on account of failure of his business enterprise. Learned counsel has iterated that total 69 prosecution witnesses have been cited, out of which, 57 already stand examined completely, but the petitioner would be required to lead defence evidence as well. Learned counsel has further iterated that maximum sentence imposable against the petitioner qua FIR in question is 7 years, whereas, the petitioner is in custody since December 2020. Thus, regular bail is prayed for.

4. Learned State counsel has opposed the present petition by arguing that the allegations raised ag