Advocates:
['PARTHA SARATHI NAYAK', '', 'S S MOHAPATRA', 'S HOTA', 'R BEHERA', 'SARTHAK NAYAK C B I']

BLAPL No.8430 of 2020

4

25.1.2021

The petitioner has prayed for his release on bail

under Section 439 Cr.P.C. in connection with R.C.Case No.41

of 2014 (Kolkata), CBI corresponding to S.P.E. Case No.36 of

2014 pending in the court of the learned Special C.J.M.,

(C.B.I.), Bhubaneswar for alleged commission of offences

under Sections 420/409/120-B of the Indian Penal Code and

Sections 4/5/6 of the Prize Chits and Money Circulation

Schemes (Banning) Act.

The prosecution allegations are that the accused

company, M/s.Golden Land Developers Ltd. and its sister

company like GLP Developers Ltd. through illegal financial

business collected huge deposits and investment from large

number of public in general by alluring them of higher return

and ultimately, the accused company as well as other accused

persons including the present petitioner have cheated them. It

is alleged that M/s.Golden Land Developers Ltd. and its sister

company, GLP Developers Ltd. received deposit to the tune of

Rs.862,50,91,926/- unauthorizedly and fraudulently, and out

of the same, an amount of Rs.682,90,06,917/- still remain

unpaid and have been misappropriated by all the accused

persons through criminal conspiracy.

It is submitted on behalf of the petitioner that, he

was neither a shareholder nor an owner of the company, but

merely was working as a salaried employee who has no role

in the alleged offences. It is further submitted that, many

other co-accused persons have been released on bail and one

of the co-accused, namely, Surinder Kumar, whose bail

application was rejected by this Court, has been granted bail

by the Hon’ble Supreme Court in the meantime. Further

another co-accused, namely, Parveen Sharma has also been

released on bail in the meantime by this Court in BLAPL

No.7119 of 2019. Thus, by focusing his case as standing on

the same footing with that other co-accused, namely, Parveen

Sharma, the petitioner submits for his release also.

On the other hand, it is submitted by the learned

counsel for the Republic of India (CBI) that, as per the

investigation report, this petitioner was the Branch Manager

of

Goldenland

Developers

Ltd./GLP

Developers

Ltd.,

Charichhak Branch. It is also submitted that, the petitioner

has siphoned an amount of Rs.22,81,369/- to his personal

benefit by way of withdrawal either through cheque or

account transfer. The submission of the petitioner that he is

standing on the same footing with the said co-accused,

Parveen Sharma more or less, is not disputed.

Upon perusal of the record, it is seen that the

chargsheet dated 5.6.2014 was filed by CBI accusing twenty

three accused persons including the present petitioner.

Subsequently the supplementary chargsheet has been filed on

18.9.2020 adding two more accused and the total amount

against the present petitioner is found to be Rs.22,81,369/-

and the investigation has been finally completed. It is further

seen from the record that, the petitioner was one of the

Branch Manager of M/s.Golden Land Developers Ltd./GLP

Developer Ltd.

As reveals from the chargsheet, this petitioner is

inside custody since 9.5.2019 and in the meantime

investigation has been finally completed. So considering the

period of detention of the petitioner inside custody as well as

c

release of other co-accused person, particularly, Parveen

Sharma, I am inclined to release the petitioner on bail, but

subject to conditions.

Thus,

keeping

in

view

the

amount

misappropriated by the petitioner to his personal benefit, it is

directed to release the petitioner on bail for Rs.50,000/-(fifty

thous