Reebha Shrivastava v. State Of Chhattisgarh

NAFR HIGH COURT OF CHHATTISGARH, BILASPUR MCRC No. 3910 of 2021 Reebha Shrivastava W/o Nitin Shrivastava Aged About 36 Years R/o House No. 6, Dinesh Housing Complex, Maitri Vihar, Near Shiva Public School, Bhilai, District Durg, 490023, Chhattisgarh, India, Police Station Supela, District Durg Chhattisgarh. --- Applicant

Versus

State of Chhattisgarh through the S.H.O. Supela, District Durg Chhattisgarh. --- Respondent For the Applicant : Mr. B.P. Singh, Advocate For the State : Mr. Gagan Tiwari, Dy.Govt. Advocate.

Hon'ble Shri Justice Goutam Bhaduri Order on Board .06.2021

1. This is third bail application for grant of bail to the applicant as she is arrested in Crime No.596 of 2015 registered at Police Station Supela, Distt. Durg (C.G) for the offence punishable under sections 420, 409, 120-B/34 of IPC read with section 45 of RBI Act and sections 3, 4, 5, & 6 of Chit Fund Act and section 10 of the Protection of Depositors Interest Act.

2. As per the prosecution case, a Company namely Yash Green Real Estate Private Limited collected amount of Rs.21,86,34,016/- from various investors promising them to repay double the amount with higher returns/dividends and the said amount was collected without sanction of the Reserve Bank of India or SEBI. Subsequently, the amount was not paid and the entire Company was closed, thereby the offence is committed.

3. Learned counsel for the applicant submits that the first bail application was rejected on 26.07.2016 and the second one was rejected on 23-6-2017 and in the meanwhile, the bail one co-accused Smt. Pooja

Tandon was directed to be enlarged on bail on 12.04.2021 by the Coordinate Bench of this Court in M.Cr.C.No.7838 of 2020. He further submits that the case of the present applicant is also on similar footing and she is in jail since 03.10.2015, therefore, she may be enlarged on bail.

4. Per contra, learned State Counsel opposes the bail of the applicant. However, he do not dispute the fact that the applicant is in jail since 03.10.2015.

5. Considering the fact that the applicant who is a lady is in jail since 03.10.2015 and though considerable time has elapsed, the trial has not been concluded and further considering the fact that similarly placed accused Pooja Tandon has been enlarged on bail by the coordinate Bench of this Court, I am inclined to allow this bail application.

6. Accordingly, the application is allowed and it is directed that the applicant shall be released on bail on her furnishing a personal bond in sum of Rs.1,00,000/- with two sureties in the like sum to the satisfaction of the trial Court for her appearance before the said Court as and when directed. It is also directed that she will not leave the district without prior permission of local court and shall not make any attempt to influence the witnesses or tamper the evidence. Certified copy as per rules.

Sd/- GOUTAM BHADURI JUDGE R a o