Sri Bappi Majumdar @ Bapi Majumdar v. The State Of Bihar

IN THE HIGH COURT OF JUDICATURE AT PATNA

CRIMINAL MISCELLANEOUS No.73664 of 2019 Arising Out of PS. Case No.-767 Year-2017 Thana- PATNA COMPLAINT CASE DistrictPatna ====================================================== Sri Bappi Majumdar @ Bapi Majumdar Son of Nantu Majumdar Resident of Village - harinavi, Byasali Para Road, No.17, Sonarpur, South 24 Praganas, P.S.- Sonarpur, West Bengal.

... ... Petitioner/s

Versus

1.

The State of Bihar 2.

Arun Kumar Mishra Son of Sri Narayan Mishra Resident of Village - Flat No.401, Manorama Enclave, Kailash path, Sheopuri, P.S.- Shastri nagar, Distt.- and Town - Patna.

... ... Opposite Party/s ====================================================== Appearance :

For the Petitioner/s :

Mr. Kuldeep Sahay, Advocate For the Opposite Party/s :

Mr. Ashok Kumar Singh ====================================================== CORAM: HONOURABLE MR. JUSTICE ASHUTOSH KUMAR ORAL ORDER 06-03-2020 The petitioner seeks bail in connection with Complaint Case No. 767 (C) /2017 dated 21.03.2017 instituted for the offence under Section 406 of the Indian Penal Code.

The petitioner is in custody since 07.06.2019. It appears from the accusation in the complaint petition that the complainant/opposite party no. 2 had invested some money in Idol India Corporation Ltd. of which the accused no. 2, Bappaditya Majumdar is the Managing Director. The aforesaid investments were made by the complainant on the persuasion of an agent of the company viz. Ajay Kumar @ Raju Gupta. So far as the petitioner is concerned, he is stated to be one of

Patna High Court CR. MISC. No.73664 of 2019(3) dt.06-03-2020 2/2 the shareholders of Idol India Corporation Ltd. and Director of another company viz. Universal Micro Finance Ltd. which is the marketing company for Idol India Corporation Ltd.

Learned counsel for the complainant/opposite party no. 2, however, submits that the petitioner may not be directly involved with the functioning of the Idol India Corporation Ltd., but was aware of the fact that such debentures were floated by the company of which the marketing was entrusted to Universal Micro Finance Ltd. and the petitioner in his capacity as Director of that company knew that such debentures were not going to be respected by Idol India Corporation Ltd.

However, regard being had to the period of custody of the petitioner and the fact that the petitioner is only one of the shareholders of the Idol India Corporation Ltd. and no amount of money was invested by the complainant on the persuasion of the petitioner, he is directed to be released on bail on his furnishing bail bonds in the sum of Rs. 10,000/- (Ten Thousand) with two sureties of the like amount each to the satisfaction of the learned Judicial Magistrate 1st Class, Patna in connection with Complaint Case No. 767 (C) /2017. (Ashutosh Kumar, J) krishna/- U T