SHIBAMOY DUTTA AND ORS Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) Heard learned counsel for the parties.

(2.) It reveals from the F.I.R. that after receiving instruction from the S.P., Dhanbad the premises of nonbanking company, running within the district, were inspected by the informant who happens to be a police officer. These petitioners relate to M/s Rose Valley Hotels & Entertainments Ltd., Govindpur. It is alleged that the company had been alluring the people to do investment and they would get higher rate of interest and in this manner they have been misleading and cheating the people for the purpose of raising fund.

(3.) It is submitted that these petitioners are only employee of the company known as Rose Valley Hotels & Entertainments Ltd., Govindpur. The company is having hotel business within the country at different places and they are having altogether 22 hotels. They have been providing holiday package to their customers under the scheme 'Time Share' and they were not indulged in any banking business. No aggrieved has come forward to say that he had deposited or invested amount for the purpose of getting higher rate of interest. Learned counsel appearing for the State opposed the prayer for bail but concedes that no person has come forward to raise allegation against the petitioners or against the company.