Rajesh Jain v. State (Thr. Ld.App)

Order dasti.

(MUKTA GUPTA) JUDGE MAY 02, 2018 'vn'

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Reserved on: 26th April, 2018 Decided on: 2nd May, 2018 + BAIL APPLN. 477/2018 RAJESH JAIN ..... Petitioner Represented by: Mr.Sudhir Nandrajog and Mr.Manoj Ohri, Sr. Advocates with Mr. Akhil Mital, Mr. L.N. Rao, Mr. Nawab Singh Jaglan, Mr. Abhimanyu Singh, Mr. Rajiv Ranjan Raj, Mr. Sanjeev Arora, Mr. Akshay Sachdeva and Ms. Archana Maheshwari, Advocates. versus STATE (THR. LD.APP) ..... Respondent Represented by: Mr. Rahul Mehra, Standing Counsel and Ms. Rajni Gupta, APP for the State, Mr. Jamal Akhtar and Mr. Chaitanya Gosain, Advocates with ACP Ishwar Singh and Inspector Ishwar Singh, PS Crime Branch. CORAM: HON'BLE MS. JUSTICE MUKTA GUPTA 1. By the present application, petitioner Rajesh Jain seeks regular bail in FIR No. 205/2016 registered at PS Crime Branch for offences punishable under Sections 406/409/420/468/471/188/120B IPC. Sections 467/109/ 201/34 IPC and Section 7/8/11/12/13 of Prevention of Corruption Act, 1988 were also added during the course of investigation. 2. Brief conspectus of facts as per FIR No. 205/2016 are that on 8th November, 2016 pursuant to the demonization of one thousand and five hundred rupees currency notes announced by the Government of India, Raj Kumar Goel conspired with Ashish Kumar, Bank Manager of Kotak Mahindra Bank, one Chartered Accountant and one mediator who used to bring money to the bank to earn huge profits by converting black money in the form of old demonetized currency into new currency notes. The alleged mediator was offered commission on all such transactions. Raj Kumar Goel, having bank accounts in Kotak Mahindra Bank, Naya Bazar Branch, deposited old currency notes in Kotak Mahindra Bank, Connaught Place Branch pursuant to the instructions of the chartered accountant and Ashish Kumar. Thereafter, the bank manager issued demand drafts in the name of Sunil Kumar, Seema Bai, Dinesh Kumar and others against the cash deposited. It was further alleged that various bank accounts were opened in the name of various companies on the basis of forged and fabricated documents and approximately ₹25 crores had been deposited by the accused persons in these companies after demonetization. Thus, the new currency, which was to be delivered to the general public in regulated manner, has been misappropriated by the accused persons for illegal monetary gains. 3. On 24th June, 2017, the main charge sheet was filed against six accused persons namely Rohit Tandon, Raj Kumar Goel, Ashish Kumar, Kamal Jain, Dinesh Bhola and Ramesh Bhola. Thereafter, the first supplementary chargesheet was filed against Yogesh Mittal on 13th October, 2017. Petitioner Rajesh Jain was arrested on 28th November, 2017 and after the completion of investigation qua the petitioner, secondary supplementary charge sheet was filed on 25th January, 2018 under Sections 420/188/109/120B/34 IPC and Section 12 of Prevention of Corruption Act, 1988 against the petitioner. 4. As per the second supplementary charge sheet, petitioner Rajesh Jain is the proprietor of M/s. Jai Jinendra Sales Corporation and his son Prateek Jain proprietor of Shrinivas Sales Corporation. As per the investigation even the work of Shrinivas Sales Corporation was looked after by Rajesh Jain. A major amount of cash in the form of demonetized currency was deposited in the accounts of Yashoda Sales, P.S. Sales, Padam Trading Company and P.K. Enterprises during demonetization period and an amount to the tune of ₹3,95,00,000/- was transferred to the account of M/s. Jai Jinendra Sales Corporation between 15th November, 2016 and 5th December, 2016 and ₹4,13,63,180/- was transferred to Shrinivas Sales Corporation between 15th November, 2016 and 12th December, 2016. 5. It was further alleged that the money so received in the accounts of M/s. Jai Jinendra Sales Corporation and Shrinivas Sales Corporation was further transferred in the accounts of Harsh International Industries Pvt. Ltd. and H. B. Manufacturing Industries Pv