Interim Order 1

Order Details: COPY OF ORDER
Pdf Text: Bail application No. 1443/2023
FIR No. 68/2021
PS EOW, New Delhi
U/s 409/420/120B IPC
State v. Dhirender Gaba
19.08.2023
Present : Sh. Vikas, ld. Addl. PP for State.
Sh. Sajal Dhamija, Ld. Counsel for all the complainants.
Sh. S. P. Kaushal, Sh. Dhananjai Kaushal, Sh. Mrigank
Kumar and Ms. Gulfsha Kureshi, Ld. Counsel for
accused/applicant.
Memo of appearance filed on behalf of complainants.
This is an application moved with the prayer for grant of
interim bail of six months to accused on the ground that accused has
made settlement with the complainants in the present case arising out
of FIR No. 68/2021 of EOW, New Delhi.
It is mentioned in the application that accused has been in
judicial custody for last 14 months. Accused has earlier been granted
interim bail by court of Ld. CMM vide order dated 20.07.2023 for 15
days. Such period of interim bail further extended vide order dated
03.08.2023. It is mentioned in application that while accused/applicant
was on interim bail, he made sincere efforts for amicable settlement of
claim of all complainants/investors and due to intervention of common
acquaintance, accused/applicant as well as complainants have entered
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into a settlement and a Memorandum of Understanding dated
02.08.2023 was recorded.
It is mentioned that in terms of such MoU dated
02.08.2023, accused/applicant stated to have created lien of his 70,000
shares in “Sudarshan Chemical Industries Limited” having marketing
value of Rs. 3.60 crores, in favour of complainants. Beside this
accused/applicant agreed to pay Rs.11.90 lakhs, which
accused/applicant is likely to receive under an Insurance Policy on
account of death of his wife in which accused/applicant stated to be
beneficiary / nominee. It is further stated that in order to ensure
security of above mentioned terms, accused/applicant mortgaged a
property of his sister in law worth Rs.40 lakhs in favour of
complainants for ensuring the due implementation / execution of terms
of settlement.
It is stated that in terms of such settlement,
accused/applicant has sent an e-mail to ECL Finance Limited on
08.08.2023 seeking details of shares of accused of that company lying
with them. It is further mentioned that since parties have mutually
agreed and settled the dispute, therefore, accused/applicant seeks
interim bail for six months.
Before I examine the grounds taken in bail application,
precise reference of allegations against the accused are that present
case was registered against accused Dhirender Gaba as well as his
brother Naveen Gaba with allegations that they induced / allured
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victims /investors to invest money in their company on the promise of
high return. It is alleged that different complainants/ investors as per
the details given in tabulation form in the reply of IO/Inspector
Krishan Vir Singh filed to this bail application, which is in total
amount to be Rs.3,72,00,000/-, those investors invested above
mentioned amount and out of that amount, accused/applicant
allegedly purchased shares in Sudarshan Chemical Industries Ltd. It is
alleged that such investment was made by the complainants on the
alleged false assurance that a high rate of interest would be paid. It is
alleged that accused/applicant did not repay the amount, hence, the
present case was registered.
Having considered the submissions and taking note of the
fact that accused/applicant has been in judicial custody for more than
14 months except the period for which accused was granted interim
bail by the orders of Ld. CMM. It has also not been disputed by Ld.
Counsel for complainant Sh. Sajal Dhamija that all
complainants/investors have made settlement and terms of settlement
have been recorded in MoU dated 02.08.2023, the copy of which has
been annexed with the bail application.
Having considered terms of MoU and acknowledged of
the same by Ld. Counsel for the complainant who has submitted the
same at bar, I find that in such situation when primary concern of the
complainants/investors is to get their money back which they had
invested earlier. No doubt, object of criminal court though is not for
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repayment of dues of complainants and is more concerned with the
prosecution of criminal offence. However, at the same time court of
law has to be conscious of realistic aspect and to administer justice in
real sense by providing lost money to complainants/investors.
Therefore, taking into consideration the terms of settlement,
accused/applicant at this stage is being given interim bail for two
months with the following conditions:-
(1) Accused/applicant would furnish the bail bond in the sum of
Rs.20,000/- with one surety of equal amount.
(2) Accused/applicant would not leave the country without permission
from the court.
(3) Accused/applicant would implement the terms of MoU dated
02.08.2023 by providing sum of Rs.11,90,000/- to the complainants as
per the proportion agreed upon within one month.
(4) Accused/applicant would immediately take steps regarding
transferring of 70,000 shares of Sudarshan Chemical Industries Ltd. to
complainants/investors as per the terms settled and give report in this
regard by the next date of hearing i.e. 19.10.2023.
At request copy of order be given dasti.
(Shailender Malik)
ASJ-03/PHC/ND/19.08.2023
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