Suraj Narayan Singh v. The State Of West Bengal

26.09.2024 Court No.29 Item No. 6 sg CRM (A) 3051 of 2024 In Re:- An application for anticipatory bail under Section 438 of the Code of Criminal Procedure read with Section 482 of the BNSS, in connection with Neturia Police Station Case No. 85 of 2024 dated 13.08.2024 under Sections 406/420/467/468 of the Indian Penal Code, pending before the learned Additional Chief Judicial Magistrate at Raghunathpur, Purulia. And In Re: Suraj Narayan Singh Petitioner Mr. Moni Sankar Chattopadhyay For the Petitioner Mr. Debasish Roy, ld. PP Mr. Saryati Datta Ms. Diksha Ghosh For the State Mr. Pawan Kr. Gupta Mr. Kaushik Chatterjee Ms. Sofia Nasar Mr. Aman Agarwal For the defacto complainant

1. Pursuant to our earlier direction, the petitioner appeared before the Investigating Officer and has produced certain documents. It is well-known that Sahara Group of companies have indulged in trading that was not sanctioned by SEBI. Many investors have suffered. 2.

The petitioner claims to be the Manager of Sahara Group. It is contended that he has not received any money from anyone. However, he is the part of Organization who are guilty of violation of various SEBI norms and guidelines including the RBI guidelines with regard to various schemes introduced by the said company.

3.

The complainant alleged that he has not received a sum of Rs.16,00,000/- that he had deposited with Sahara under a collective investment scheme of Rs.16,00,000/- and he has not received the money. The collective investment scheme was found to be illegal by the SEBI. The petitioner cannot deny the modus operandi of the said fund.

4. Since there are incriminating materials in the case diary, we are not extending the protective order any further.

5. The application for anticipatory bail is rejected. (Soumen Sen, J.) (Uday Kumar, J.)