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(Proceedings through video conferencing)

NAFR

HIGH COURT OF CHHATTISGARH, BILASPUR

MCRCA No. 573 of 2021

•

Mr. Abhishek Kumar S/o Bijoy Bahadur Sinha, aged about 45

years, R/o Flat No.1901, Anmol Prestige Tower, Excel Estate,

Near BMC Garden/Jain Mandir, Govindji Shroff Road, Off. S.V.

Road Goregaon (West) Mumbai- 400104.

---- Applicant

Versus

• State of Chhattisgarh Through the SHO, P.S. Katghora, District

Korba (CG)

---- Non-applicant

For Applicant

:

Dr. Abhinav Chandrachud, Advocate

with Mr. Aman Saxena, Advocate

For Non-applicant

:

Mr. Vimlesh Bajpai, Govt. Advocate

For Objector

:

Mr. Vivek Sharma, Advocate

Hon'ble Mr. Justice Parth Prateem Sahu

Order On Board

8/7/2021

1. This is first application under Section 438 of CrPC for grant of

anticipatory bail to the applicant as he apprehends his arrest

in connection with Crime No.98/2021 registered at Police

Station Katghora, District Korba (CG) for commission of

offence punishable under Section 420/34 of the Indian Penal

Code.

2. Case of the prosecution story, in brief, is that complainant

Mohammed Usman Khan, stating himself to be an employee

of Rituraj Steels Private Limited, Bilaspur (hereinafter shall be

referred to as '2^nd Party') and power of attorney holder of Shri

Rahul Bajpayee, Director of Rituraj Steels Private Limited,

Bilaspur to deal with the court proceedings, has filed a written

complaint in the police station mentioning therein that the 2^nd

party received a proposal from the Asset Reconstruction

Corporation of India (for brevity '1^st Party') regarding sell of

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Shalivahana Hydro Power Project located at Village

Chevdhara, Tehsil Podi-uprora, District Korba (CG). The 1^st

Party accepted that proposal and agreed to purchase the

project for Rs.6,35,00,000/- as Special Purpose Vehicle (SPV)

on slump sale basis. Pursuant to agreement executed

between the parties, the 2^nd

party had deposited

Rs.1,00,00,000/- (Rupees One Crore) in the account of 1^st

Party. On 9.10.2020 the Memo of Understanding (MoU) was

executed between the 1^st party and the 2^nd party. As per terms

of the MoU, the 1^st party had deposited Rs.2,00,00,000/-

(Rupees Two Crore) on 26.10.2020 in the bank account of 2^nd

party. Thereafter on 11.11.2020 sale-purchase and business

transfer agreement was executed between both the parties.

The 2^nd party has installed CCTV cameras and deployed

security guards at the plant and intimation in this regard as

also other details, which were required to be forwarded as per

MoU, was forwarded to the 1^st party. The 2^nd party wrote a

letter to the 1^st party requesting to discharge its liability in

terms of MoU, which remained unreplied. Subsequently, the 1^st

party with intent to cheat and cause loss to the 2^nd party, had

entered into agreement to sell the power project to a third

party. It is further alleged in the complaint that instead of

accepting the agreed amount of consideration of

Rs.6,35,00,000/-, the 1^st

party started demanding

Rs.8,00,00,000/- as consideration. The said act on the part of

the 1^st party comes within the purview of offence as defined

under Section 420 of IPC. Based on the aforementioned

written complaint, FIR was registered by police station

concerned against present applicant and four others on

16.4.2021.

3. Dr. Abhinav Chandrachud, learned counsel representing the

applicant would submit that perusal of the contents of

complaint itself would show that 1^st party had entered into a

contract by executing MoU for purchase of Shalivahana Hydro

Power Project located at Village Chevdhara, Tehsil Podi-

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uprora, District Korba. Pursuant to said agreement, the 2^nd

party has initially deposited Rs.1,00,00,000/- (Rupees One

Crore) and after execution of MoU, further amount of

Rs.2,00,00,000/- (Rupees Two Crore) was deposited. He

submits that present applicant is only a nominee Director in

Shalivahana Green Energy L