Varun Gupta And Another v. State Of Punjab

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CRM-M-47699-2025 (O&M) VARUN GUPTA AND ANOTHER .....PETITIONERS

VERSUS

STATE OF PUNJAB .....RESPONDENT MANMOHAN KRISHAN @ MANMOHAN KRISHAN JAIN .....PETITIONER

VERSUS

STATE OF PUNJAB .....RESPONDENT JAGMOHAN KRISHAN JAIN .....PETITIONER

VERSUS

STATE OF PUNJAB .....RESPONDENT DECIDED ON:

18.03.2026

CORAM:

HON'BLE MR. JUSTICE SANJAY VASHISTH.

Present:

Mr. R.S. Cheema, Senior Advocate, with Mr. A.S. Cheema, Advocate, for the petitioners (in all the cases).

Mr. Neeraj Madaan, Sr. DAG, Punjab.

Mr. GBS Dhillon, Senior Advocate, with Mr. Jaskirat Singh Arora, Advocate, for the complainant.

SANJAY VASHISTH , J (ORAL) 1.

By this common order, all the aforementioned three petitions, i.e. CRM-M-47699-2025, CRM-M-50402-2025 and CRM-M58898-2025 shall stand disposed of. 2.

Present petitions have been filed by the petitioners, seeking grant of anticipatory bail, in case, FIR No.197, dated 05.07.2025, under Sections 406, 420 and 120-B of IPC, registered at Police Station Division No.5, District Ludhiana.

3.

After hearing the submissions addressed by learned Senior counsel for the petitioner - Jagmohan Krishan Jain, on 17.10.2025, following order was passed in CRM-M-58898-2025:- "2.

Learned counsel for the petitioner, inter alia, contends that a bare perusal of the complaint, which was later converted into an FIR, reveals that no criminal offence is made out against the petitioner. It is submitted that dispute arises out of business rivalry, which initially began between the complainant and petitioner along with other co-accused persons. It is further submitted that allegations levelled in the complaint, even if taken at face value, pertain to issues for which appropriate remedy lies either under Company Law or Civil Law. However, complainant has deliberately given the matter a criminal colour, resulting in the registration of FIR.

3.

Counsel for the petitioner also submits that similarly situated co-accused persons, namely Varun Gupta and another, have already been granted the concession of interim anticipatory bail, vide order dated 29.08.2025, passed in CRM-M-47699-2025. Likewise, Manmohan Krishan @ Manmohan Krishan

Jain has also been granted interim anticipatory bail by this Court, vide order dated 09.09.2025, passed in CRM-M-50402-2025, and both the said petitions are listed for 03.11.2025 (Annexure P-21). Moreover, petitioner is ready to join the investigation and fully cooperate, if protected from arrest by this Court. Thus, prays for grant of concession of anticipatory bail to the petitioner in the present case.

4.

Notice of motion.

5.

On advance notice, Mr. Neeraj Madaan, Sr. DAG, Punjab, puts in appearance on behalf of the respondent - State, and seeks some time to file status report in the matter.

6.

Adjourned to 03.11.2025.

To be heard along with CRM-M-476992025 and CRM-M-50402-2025. 7.

Meanwhile, the petitioner is directed to join the investigation as and when required to do so by the Investigating Agency. In the event of his arrest, the petitioner shall be released on ad-interim bail, subject to his furnishing bail bonds to the satisfaction of the Arresting Officer. The petitioner shall also be abide by all the conditions laid down under Section 482(2) of BNSS, 2023 (earlier Section 438(2) Cr.P.C.).

8.

Besides, it is directed that petitioner would hand over his passport to the Investigating Agency or to Court concerned, if he possesses. Otherwise, would submit an affidavit, disclosing the fact that he does not possess any passport.

It is also directed that before leaving country any time during trial, petitioner would seek prior permission of the Court."

4.

Today, learned State counsel submits that, during the course of investigation, nothing incriminating was found against the petitioners and, accordingly, a cancellation report has been prepared, which has been approved by the Commissioner of Police, Ludhiana, on 11.12.2025. 5.

In view of the above, this Court deems it appropriate to dispose of all three petitions with the observation that, after presentation of the cancellation report before the Court of the concerned Area

Magistrate, in the event any order adverse to the interests of the petitioners is passed, no coercive steps in regard to the arrest shall be taken against them for a period of one week thereafter, so as to enable them to avail appropriate remedies in accordance with law, for approaching this Court, once again.

6.

With the observations recorded here above, all the three petitions stand disposed of.

7.

A photocopy of this order be placed on the files of other connected cases.

(SANJAY VASHISTH) 18.03.2026 JUDGE Lavisha Whether speaking/reasoned Yes/No Whether reportable Yes/No