Advocates:
['Md Azam', '', 'AJMAL ASHRAF KHAN', 'AFAQUE RASHIDI', 'RAJIV SINHA']

IN THE HIGH COURT OF JHARKHAND AT RANCHI

A.B. A. No. 537 of 2022

1. Naru Gopal Das Adhikari

2. Jafar Ali Molla

… Petitioners

Versus

Union of India through CBI

…

Opposite Party

Coram: HON’BLE MR. JUSTICE ANIL KUMAR CHOUDHARY

For the Petitioners

: Mr. Afaque Rashidi ,Adv.

For the CBI

: Mr. B.K. Prasad ,Adv.

02 / 09.02.2022

Heard the parties through Video Conferencing.

Learned counsel for the petitioners personally

undertakes to remove the defects pointed out by the Stamp

Reporter within two weeks after resumption of the court in

physical mode.

In view of the personal undertaking given by learned

counsel for the petitioners the defects pointed out by the Stamp

Reporter are ignored for the present.

Apprehending their arrest, the petitioners have

moved this Court for grant of privilege of anticipatory bail in

connection with Compliant R.C. Case No. 47 of 2017 registered

under Sections 120B, 420, 406 of the Indian Penal Code and Section

4, 5 and 6 of Prize, Chits & Money Circulation Schemes (Banning)

Act, 1978.

Learned counsel appearing for the petitioners submits

that the allegation against the petitioners is that the petitioners

being the Directors of M/s Polaris Agro Industries Limited,

dishonestly and fraudulently collected the deposits to the tune of

Rs. 6,50,610/- from the investors through their illegal schemes

without having any valid license or permission from the regulators

and cheated and misappropriated the same for their personal use.

It is then submitted that the allegations against the petitioners are

all false. It is next submitted that the petitioners are ready to co-

operate with the trial of the case and they also undertakes to pay a

total sum of Rs. 6,50,610/- jointly by way of two demand drafts,

out of which one demand draft of Rs. 5,39,774/- drawn in favour

of the complainant- Abdul Odud and another demand draft of Rs.

1,10,836/- drawn in favour of Md. Anjarul Islam as ad interim

victim compensation without prejudice to their defence. It is

further submitted that since the petitioners co-operated with the

investigation of the case, the CBI did not feel it necessary to arrest

the petitioners during investigation of the case hence, the

petitioners be given the privilege of anticipatory bail.

The learned counsel for the CBI opposes the prayer for

anticipatory bail of the petitioners.

Considering aforesaid facts and circumstances of the case, I

am inclined to grant the privilege of anticipatory bail to the

petitioners. Hence, in the event of arrest by the police or surrender

within a period of six weeks from the date of this order, the

petitioners shall be released on bail on depositing a total sum of Rs.

6,50,610/- jointly by way of two demand drafts, out of which one

demand draft of Rs. 5,39,774/- drawn in favour of the complainant-

Abdul Odud and another demand draft of Rs. 1,10,836/- drawn in

favour of Md. Anjarul Islam as ad interim victim compensation

without prejudice to their defence and on furnishing bail bond of

Rs. 2,00,000/- (Rupees Two Lakhs) each with two sureties of the like

amount each to the satisfaction of learned SDJM-cum-Special

Judicial Magistrate (CBI) Dhanbad in connection with Compliant

R.C. Case No. 47 of 2017 subject to the condition that the petitioners

will co-operate with the trial of the case along with the other

conditions laid down under section 438 (2) Cr. P.C.

In case of depositing aforesaid demand draft by the

petitioners, learned court below is directed to issue notice to the said

victims and release the demand draft in their favour on proper

identification forthwith.

(ANIL KUMAR CHOUDHARY, J.)

Smita/-