Navneet Suresh Chandra Tandon v. Republic Of India (CBI)

IN THE HIGH COURT OF ORISSA AT CUTTACK

ABLAPL No.10885 of 2021 Navneet Sureshchandra Tandon ....

Petitioner Mr.P.Panda, Advocate -versusRepublic of India (CBI) ....

Opp. Party Mr.S.Nayak, SPP

CORAM:

MR. JUSTICE D.DASH Order No.

ORDER

12.09.2022 08.

1.

This matter is taken up through hybrid arrangement (virtual/physical mode).

2.

The Petitioner, apprehending his arrest in connection with RC.32/S/2014-SCB/KOL pending in the Court of the learned Special CJM (CBI), Bhubaneswar, has filed this application under section 438 of the Code of Criminal Procedure for grant of anticipatory bail.

3.

Heard Mr.P.C.Panda, learned counsel for the Petitioner and Mr.S.Nayak, learned Special Public Prosecutor for the CBI. 4.

Keeping in view the submission made, the records placed by the learned Special Public Prosecutor being perused; it is seen that the case has been registered for collection of huge amount from innocent investors by the accused persons associated with M/s.Wetell Cap Solutions Private Limited with

// 2 // the assurance of high return. In course of investigation, it has been ascertained that the Petitioner has withdrawn cash of Rs.42,08,000/- from the accounts of M/s.Wetell Group of Companies as also quite sizable amount has been transferred to the account of the Petitioner. When the investigation of the case is still going on, this Court is of the considered view that as in the facts and circumstances, grant of anticipatory bail to the Petitioner is likely to hamper a fair investigation by standing on the way of custodial interrogation of this Petitioner, if so needed in that connection.

5.

The ABLAPL is accordingly dismissed.

Consequently, upon dismissal of the ABLAPL, the interim order dated 01.09.2021 stands vacated. (D.Dash) Judge Basu