Ravindra Maithani, J
1. Applicant Rajendra Singh Bisht is in judicial custody in FIR No.93 of 2023, under Sections 420, 406 and 120-B IPC along with Section 3/21 of the Banning of Unregulated Deposit Schemes Act, 2019, Section 4/5 of the Chit Funds Act, 1982 and Section 3 of the Protection of Interest of Uttarakhand Depositors (Financial Establishments) Act, 2005, Police Station- Patel Nagar, District- Dehradun. He has sought his release on bail.
2. Heard learned counsel for the parties and perused the record.
3. According to the FIR, the applicant along with the co-accused constituted a cooperative society. They induced investors to invest in their society with the assurance of high returns. The investments were made, but the returns were not given. The FIR is quite in detail.
4. Learned counsel for the applicant would submit that the applicant is innocent; co-accused Pitamber Pal has already been granted bail; the role of the applicant is not dissimilar.
5. Learned State Counsel admits these facts.
6. Having considered, this Court is of the view that it is a case fit for bail and the applicant deserves to be enlarged on bail.
7. The bail application is allowed.
8. Let the applicant be released on bail, on his executing a personal bond and furnishing two reliable sureties, each of the like amount, to the satisfaction of the court concerned.
