BLAPL/4654/2020
2021 Latest Caselaw 4647 Ori

                                    BLAPL No.4654 of 2020




05.   06.04.2021          This matter is taken up through video conferencing mode.
                          This is the second journey of the petitioner, who is in custody in
                   Baripada Town P.S. Case No.301 of 2010 corresponding to C.T.R.
                   No.1(C) of 2014, running for the alleged commission of offence under
                   section 420/34 of the IPC and section 4/5/6 of PCMCS (Banning) Act
                   and section 6 of OPID Act pending on the file of the learned Additional
                   Sessions Judge-cum-Designated Court (OPID), Balasore, in filing this
                   application under section 438, Cr.P.C., for his release on bail.
                          It is pertinent to state here that the prayer for bail to this
                   Petitioner had earlier been rejected in BLAPL No.480 of 2020.
                          Heard Mr.B.C.Gadai, learned counsel for the petitioner and
                   Mr.Bhuyan, learned counsel for the State appearing in OPID cases.
                          Perused the materials as placed including the final form.
                          The case has been registered for carrying out the alleged illegal
                   activities of collection of money from the innocent investors giving
                   them tall promises as to the return in one way or other with the aim to
                   cheat them from the beginning. It is said that being lured by said
                   promises, persons in huge numbers made substantial deposit of their
                   money. The petitioner is the Managing Director of M/s.Sastra
                   Enterprises Private Limited and M/s.Earnex Marketing Private Limited
                   in the name of which the activities were being carried out. It is stated
                   that so far traced out, the PAN INDIA situation as to collection of
                   funds is around Rs.28.26 Crores out of which in so far as the State of
                   Odisha is concerned, the collection is around Rs.4.86 crores form 1357
                   depositors. As finds mention in the charge-sheet, the Company by
                   engaging employees and agents, who are basically unemployed youths,
                   had been collecting huge amount from the innocent persons all
                   throughout making them believe that their investment in their hands are
        all safe and secured and the returns are assured under different schemes
       of the Companies. The trial of the case is going on. The petitioner hails
       from the State of Tamil Nadu and no such material has been found out
       to show that any of the Company has any such noticeable asset in this
       State.
                Considering the submissions made and on going through the
       record; further keeping in view the large scale activity of the
       Companies under the leadership of this petitioner in this State of
       Odisha in collecting huge amount from large number of persons by
       bringing them within the net with all such false promises made for the
       purpose in a highly calculated manner as also the magnitude of the
       offence in creating various companies, carrying out several other
       activities, in a planned manner as to diversion of the funds so as to
       avoid any future liability having wide ramifications and the tendency to
       ruin the economy of the nation; this Court is not inclined to reconsider
       the prayer for grant of bail to the petitioner.
                The BLAPL is dismissed accordingly.
                As the restrictions due to the COVID-19 situation are
       continuing, learned counsel for the parties may utilize a soft copy of
       this order/judgment available in the High Court's website or print out
       thereof at par with certified copy in the manner prescribed, vide
       Court's Notice No.4587 dated 25th March, 2020.



                                     .......................
                                      D. Dash,J.

Basu