TIKA RAM KHARE Vs. STATE OF NCT DELHI

JUDGEMENT

(1.) The present application under sec. 439 Code of Criminal Procedure, 1973 (Cr.P.C.) for grant of regular bail is filed in FIR No. 4/2021, dtd. 11/1/2021 registered at Police Station Economic Offences Wing, under Ss. 406/420/120-B of the Indian Penal Code, 1860 (IPC).

(2.) The FIR was registered on a joint complaint given by Mr Gopal Krishna Handa, Smt. Neetu Handa, Sh. Pragati Kumar, Sh. Parth Kumar and Sh. Kritin Kumar who alleged that a company named M/s Kumar Sharebrokers Ltd. (KSBL) [herein after referred as "Company"] lured and induced the complainants that they would get promised / guaranteed returns if they place a basket of securities including bonds and shares with the company for margin funding as well as to meet working capital requirements of the company.

(3.) It is also alleged that the Complainants were fully assured that the securities would be completely safe with the company and the same were fully backed by legal agreements and cheques of equivalent amounts as security. As per the terms of agreement, fixed guaranteed interest was to be paid to the complainants and the assurance with respect to the same was given.