Sandeep Kumar vs State Of Haryana

MANISHA BATRA, J. (ORAL)

TheThe instant petition has been filed by thefiled by the petitioner under SectionSection 483 of BharatiyaBharatiya Nagarik Suraksha Sanhita, 2023 (for short “BNSS”)Sanhita, 2023 (for short “BNSS”) forfor grant of regular bail in case arising out of FIR No.regular bail in case arising out of FIR No.regular bail in case arising out of FIR No.12 dated 18.06.202512 dated 18.06.2025 registered under Sections 420, 467, 468, 471 and 120B of IPC at Policeregistered under Sections 420, 467, 468, 471 and 120B of IPC at Policeregistered under Sections 420, 467, 468, 471 and 120B of IPC at Policeregistered under Sections 420, 467, 468, 471 and 120B of IPC at Police Station Metro, Gurugram.Station Metro, Gurugram.

The aforementioned FIR was registered on the basis of a writtenThe aforementioned FIR was registered on the basis of a writtenThe aforementioned FIR was registered on the basis of a writtenThe aforementioned FIR was registered on the basis of a written complaint submicomplaint submitted by the complainant M/s. Arthmate Financing Indiatted by the complainant M/s. Arthmate Financing Indiatted by the complainant M/s. Arthmate Financing India PrivatePrivate LimitedLimited (hereinafter(hereinafter to be referredreferredreferred asasas “complainant“complainant“complainant company”)company”)company”) through its authorized representative Mr. Pardeep Kumar Panchal allegingits authorized representative Mr. Pardeep Kumar Panchal allegingits authorized representative Mr. Pardeep Kumar Panchal allegingits authorized representative Mr. Pardeep Kumar Panchal alleging thereinthereinthereintherein thatthatthatthat GrihasthaGrihasthaGrihasthaGrihastha SavingSavingSavingSaving andandandand ServicesServicesServicesServices PrivatePrivatePrivatePrivate LimitedLimitedLimitedLimited CompanyCompanyCompanyCompany (hereinafter to beto be referred as “accused company”) was an outsourced servicereferred as “accused company”) was an outsourced servicereferred as “accused company”) was an outsourced service partnerpartnerpartner forforfor complainantcomplainantcomplainant company tocompany tocompany to facilitatefacilitatefacilitate llloanoan productproduct distribution,distribution, customercustomercustomercustomer duedueduedue diligencediligencediligencediligence andandandand loanloanloanloan collection/recovery.collection/recovery.collection/recovery.collection/recovery. TheTheTheThe arrangementarrangementarrangementarrangement between complainant company and accused company was governed by twobetween complainant company and accused company was governed by twobetween complainant company and accused company was governed by twobetween complainant company and accused company was governed by two Master Service Agreements (for shortMaster Service Agreements (for short “MSAMSA”) executed on 09.06.2023 and) executed on 09.06.2023 and 26.12.202326.12.2023 respectiverespectively.ly.ly. AccusedAccusedAccused companycompanycompany waswaswas neitherneitherneither legallylegallylegally nornornor contractually authorized to collect any cash paymentcontractually authorized to collect any cash paymentcontractually authorized to collect any cash payments from customers ofs from customers of complainant-company as per the terms of the agreement.company as per the terms of the agreement.company as per the terms of the agreement.company as per the terms of the agreement. However, byHowever, byHowever, byHowever, by flouting those terms, theflouting those terms, the petitioner who is Director of the accused comwho is Director of the accused companypany and the other coand the other co-accused started collecting cash payments fraccused started collecting cash payments from the customersom the customers of complainantof complainant-company without any authority, illegally withheld them andcompany without any authority, illegally withheld them andcompany without any authority, illegally withheld them and did not transfer the same into the designadid not transfer the same into the designated bank account of complainantted bank account of complainant--company.company. It was also founIt was also found that accused company had been deceivingd that accused company had been deceivingd that accused company had been deceiving customers of complainantcustomers of complainant-company by fraudulently and dishonestly inducingcompany by fraudulently and dishonestly inducingcompany by fraudulently and dishonestly inducing them to make cash payments to the officers of accused company under thethem to make cash payments to the officers of accused company under thethem to make cash payments to the officers of accused company under thethem to make cash payments to the officers of accused company under the pretence that these cash payments shall be transferred to the complapretence that these cash payments shall be transferred to the complapretence that these cash payments shall be transferred to the complainantinant companycompanycompanycompany againstagainstagainstagainst thethethethe customerscustomerscustomerscustomers loanloanloanloan repayment.repayment.repayment.repayment. ByByByBy allegingallegingallegingalleging thatthatthatthat thethethethe petitioner and the other coand the other co-accused had also issued false and forgedaccused had also issued false and forged NoNo Objection CertificatesObjection Certificates (NOCs), fabricated statements of accounts and had, fabricated statements of accounts and had, fabricated statements of accounts and had preparedprepared forgedforged documentsdocuments forfor unlawfuunlawful retentionretention ofof paymentspayments therebythereby causing huge loss of money to complainant company and that, a companycausing huge loss of money to complainant company and that, a companycausing huge loss of money to complainant company and that, a companycausing huge loss of money to complainant company and that, a company named as M/s. Blueella Private Limited had availed loan to the tune of Rs.50named as M/s. Blueella Private Limited had availed loan to the tune of Rs.50named as M/s. Blueella Private Limited had availed loan to the tune of Rs.50named as M/s. Blueella Private Limited had availed loan to the tune of Rs.50 lakh from complainant company but the amount of loan so taken waslakh from complainant company but the amount of loan so taken waslakh from complainant company but the amount of loan so taken waslakh from complainant company but the amount of loan so taken was unlawfully transferredtransferredtransferredtransferred totototo thethethethe accountaccountaccountaccount ofofofof accusedaccusedaccusedaccused companycompanycompanycompany immediatelyimmediatelyimmediatelyimmediately without any legitimate justification thereby amounting to misappropriationwithout any legitimate justification thereby amounting to misappropriationwithout any legitimate justification thereby amounting to misappropriationwithout any legitimate justification thereby amounting to misappropriation and diversion of loan funds.and diversion of loan funds.and diversion of loan funds.and diversion of loan funds. The said Blueella Private Limited had stoppedThe said Blueella Private Limited had stoppedThe said Blueella Private Limited had stoppedThe said Blueella Private Limited had stopped making repayment of loan.making repayment of loan.

AfterAfter registraregistrationtion ofof FIR,FIR, investigationinvestigation proceedingsproceedings werewere initiated. Initially accused Sudhir, Rahul, Satish Chandra and Aparna Kumariinitiated. Initially accused Sudhir, Rahul, Satish Chandra and Aparna Kumariinitiated. Initially accused Sudhir, Rahul, Satish Chandra and Aparna Kumariinitiated. Initially accused Sudhir, Rahul, Satish Chandra and Aparna Kumari were joined into investigation and were arrested.were joined into investigation and were arrested.were joined into investigation and were arrested.were joined into investigation and were arrested. Two more accused namelyTwo more accused namelyTwo more accused namelyTwo more accused namely KuldeepKuldeepKuldeep DograDograDogra andandand AnkushAnkushAnkush YadavYadavYadav werewerewere joinedjoinedjoined intointointo investigatiinvestigatiinvestigationon onon 18.02.2026 but were found to be innocent.18.02.2026 but were found to be innocent.18.02.2026 but were found to be innocent.18.02.2026 but were found to be innocent. During the course of furtherDuring the course of furtherDuring the course of furtherDuring the course of further investigation, it transpired that an amount of Rs.21,29,00,000/investigation, it transpired that an amount of Rs.21,29,00,000/investigation, it transpired that an amount of Rs.21,29,00,000/- had flowedhad flowed through 11 accounts of the petitioner, accused company and Preetthrough 11 accounts of the petitioner, accused company and Preetthrough 11 accounts of the petitioner, accused company and Preeti Yadav,i Yadav, wife of the petitioner.wife of the petitioner. TheThe same was got audited by a Chartered Accountantgot audited by a Chartered Accountantgot audited by a Chartered Accountant with the permission of senior officers.with the permission of senior officers.with the permission of senior officers. As per the audit,As per the audit,As per the audit, from the account ofthe account of accusedaccusedaccused company, creditscompany, creditscompany, credits of a sum of Rs.of a sum of Rs.of a sum of Rs.13,75,95,960/- andand debitsdebits ofof Rs.13,76,78,047/Rs.13,76,78,047/- were found in the account of the present pewere found in the account of the present petitioner andtitioner and different amounts of credits and debits were found in the account of the wifedifferent amounts of credits and debits were found in the account of the wifedifferent amounts of credits and debits were found in the account of the wifedifferent amounts of credits and debits were found in the account of the wife of the petitioner as well as in the accused company. The petitioner was joinedof the petitioner as well as in the accused company. The petitioner was joinedof the petitioner as well as in the accused company. The petitioner was joinedof the petitioner as well as in the accused company. The petitioner was joined into investigation of the case on 10.03.2026 and was thus, formally arrested.into investigation of the case on 10.03.2026 and was thus, formally arrested.into investigation of the case on 10.03.2026 and was thus, formally arrested.into investigation of the case on 10.03.2026 and was thus, formally arrested. On interrogation, he suffered disclosure statement admitting his involvementerrogation, he suffered disclosure statement admitting his involvementerrogation, he suffered disclosure statement admitting his involvementerrogation, he suffered disclosure statement admitting his involvement in the crime, by getting the money belonging to the complainant company asin the crime, by getting the money belonging to the complainant company asin the crime, by getting the money belonging to the complainant company asin the crime, by getting the money belonging to the complainant company as received from the clients/customers of complainantreceived from the clients/customers of complainantreceived from the clients/customers of complainant-company in the accountscompany in the accounts of his wife, himself and the accuseof his wife, himself and the accused company.d company. Investigation now standsInvestigation now stands concluded.

It is argued by learned counsel for the petitioner that he has beenIt is argued by learned counsel for the petitioner that he has beenIt is argued by learned counsel for the petitioner that he has beenIt is argued by learned counsel for the petitioner that he has been falsely implicated in this case.falsely implicated in this case.falsely implicated in this case.falsely implicated in this case. He is in custody for a period of about 06He is in custody for a period of about 06He is in custody for a period of about 06He is in custody for a period of about 06 months.months.months. He is not required for further investigation.He is not required for further investigation.He is not required for further investigation. TheTheThe trial will taketrial will take considerable time to conclude. His antecedents are clean. No useful purposeconsiderable time to conclude. His antecedents are clean. No useful purposeconsiderable time to conclude. His antecedents are clean. No useful purposeconsiderable time to conclude. His antecedents are clean. No useful purpose would be served by detaining him in custody anymore.would be served by detaining him in custody anymore.would be served by detaining him in custody anymore. The subject offencesThe subject offences are triable by Magistrate.are triable by Magistrate. It is, therefore, argued that he deserves to beIt is, therefore, argued that he deserves to beIt is, therefore, argued that he deserves to be released on bail.n bail.

Per contra, learned State counsel has argued that the petitionerPer contra, learned State counsel has argued that the petitionerPer contra, learned State counsel has argued that the petitionerPer contra, learned State counsel has argued that the petitioner had played the most active role in the commission of the subject offences. Hehad played the most active role in the commission of the subject offences. Hehad played the most active role in the commission of the subject offences. Hehad played the most active role in the commission of the subject offences. He being Director of accused company was involved in fraudulentbeing Director of accused company was involved in fraudulentbeing Director of accused company was involved in fraudulent diversion andand withholdingwithholding ofof amountsamounts ccollectedollectedollected fromfromfrom loanloanloan customerscustomerscustomers ofofof complainantcomplainantcomplainant company and had misappropriated the same.company and had misappropriated the same.company and had misappropriated the same.company and had misappropriated the same. He was also found connectedHe was also found connectedHe was also found connectedHe was also found connected with issuance of fraudulent NOCs and misappropriation of payments made bywith issuance of fraudulent NOCs and misappropriation of payments made bywith issuance of fraudulent NOCs and misappropriation of payments made bywith issuance of fraudulent NOCs and misappropriation of payments made by the customers.the customers. The trial has commencedThe trial has commenced and there is nothing on recand there is nothing on record toord to suggest that there will be undue delay in conclusion of the same.suggest that there will be undue delay in conclusion of the same.suggest that there will be undue delay in conclusion of the same.suggest that there will be undue delay in conclusion of the same. WrongfulWrongfulWrongfulWrongful loss of huge amount of money was caused by petitioner to the complainantloss of huge amount of money was caused by petitioner to the complainantloss of huge amount of money was caused by petitioner to the complainantloss of huge amount of money was caused by petitioner to the complainant company. It is, therefore, argued that he does not deserve to be released onIt is, therefore, argued that he does not deserve to be released onIt is, therefore, argued that he does not deserve to be released onIt is, therefore, argued that he does not deserve to be released on bail.

This CourtThis Court has heard the rival submissions made by learnedhas heard the rival submissions made by learnedhas heard the rival submissions made by learned counsel for the partiecounsel for the parties.

TheTheThe petitioner,petitioner,petitioner, whowhowho waswaswas DirectorDirectorDirector ofofof accusedaccusedaccused compancompancompany hady had admittedly entered intoadmittedly entered into agreements with the complainant company.s with the complainant company. AsAs perper the terms of the agreementthe terms of the agreement, his company had to prhis company had to prepare lists of the customersof the customers who had taken loan from the complainant company and to ensure deposit ofwho had taken loan from the complainant company and to ensure deposit ofwho had taken loan from the complainant company and to ensure deposit ofwho had taken loan from the complainant company and to ensure deposit of instalments of the loaninstalments of the loan by them with the complainant company. Howeverby them with the complainant company. However, he, he himself is alleged to have taken the loan instalments from the customers ofhimself is alleged to have taken the loan instalments from the customers ofhimself is alleged to have taken the loan instalments from the customers ofhimself is alleged to have taken the loan instalments from the customers of the complainant company and misappropriated the same, thereby causingcomplainant company and misappropriated the same, thereby causingcomplainant company and misappropriated the same, thereby causingcomplainant company and misappropriated the same, thereby causing substantial loss to the tune of Rs.7 crores to the complainant company. He issubstantial loss to the tune of Rs.7 crores to the complainant company. He issubstantial loss to the tune of Rs.7 crores to the complainant company. He issubstantial loss to the tune of Rs.7 crores to the complainant company. He is also alleged to have prepared forged and fabricated documents in the form ofalso alleged to have prepared forged and fabricated documents in the form ofalso alleged to have prepared forged and fabricated documents in the form ofalso alleged to have prepared forged and fabricated documents in the form of NOCs, purported to be issued on bNOCs, purported to be issued on behalf of the complainant company andehalf of the complainant company andehalf of the complainant company and thereby committing offence of forgery.thereby committing offence of forgery.thereby committing offence of forgery.thereby committing offence of forgery. The allegations against him areThe allegations against him areThe allegations against him areThe allegations against him are serious in nature.serious in nature.serious in nature.serious in nature. The offence under Section 467 of IPC attracts punishmentThe offence under Section 467 of IPC attracts punishmentThe offence under Section 467 of IPC attracts punishmentThe offence under Section 467 of IPC attracts punishment upto life imprisonment.upto life imprisonment.upto life imprisonment. The trial has commenced and there is nothingThe trial has commenced and there is nothingThe trial has commenced and there is nothing onon record to suggest that there would be any undue delay in conclusion of therecord to suggest that there would be any undue delay in conclusion of therecord to suggest that there would be any undue delay in conclusion of therecord to suggest that there would be any undue delay in conclusion of the same. It is wellt is well-settled proposition of law that grant of bail is a discretionarysettled proposition of law that grant of bail is a discretionarysettled proposition of law that grant of bail is a discretionary relief to be granted or denied based on specific facts and circumstances ofrelief to be granted or denied based on specific facts and circumstances ofrelief to be granted or denied based on specific facts and circumstances ofrelief to be granted or denied based on specific facts and circumstances of each case. The facteach case. The factors such as nature of accusations, severity of punishment ifors such as nature of accusations, severity of punishment ifors such as nature of accusations, severity of punishment if the accusations entail a conviction and nature of evidence in support ofthe accusations entail a conviction and nature of evidence in support ofthe accusations entail a conviction and nature of evidence in support ofthe accusations entail a conviction and nature of evidence in support of accusations are to be seen. That apart, reasonable apprehension of tamperingaccusations are to be seen. That apart, reasonable apprehension of tamperingaccusations are to be seen. That apart, reasonable apprehension of tamperingaccusations are to be seen. That apart, reasonable apprehension of tampering with evidence or threatening the material witwith evidence or threatening the material witwith evidence or threatening the material witnesses is also to be weighed.nesses is also to be weighed. Frivolity of prosecution should always be considered, and it is only theFrivolity of prosecution should always be considered, and it is only theFrivolity of prosecution should always be considered, and it is only theFrivolity of prosecution should always be considered, and it is only the element of genuineness that has to be considered in the matter of grant of bail.element of genuineness that has to be considered in the matter of grant of bail.element of genuineness that has to be considered in the matter of grant of bail.element of genuineness that has to be considered in the matter of grant of bail. Taking into consideration the gravity of the allegations and the attendTaking into consideration the gravity of the allegations and the attendTaking into consideration the gravity of the allegations and the attendant factsant facts and circumstances, this Court is of the considered opinion that the petitionerand circumstances, this Court is of the considered opinion that the petitionerand circumstances, this Court is of the considered opinion that the petitionerand circumstances, this Court is of the considered opinion that the petitioner does not deserve to be extended benefit of bail.does not deserve to be extended benefit of bail.does not deserve to be extended benefit of bail.does not deserve to be extended benefit of bail. Accordingly, finding noAccordingly, finding noAccordingly, finding noAccordingly, finding no compelling ground to allow the present petition, the same is dismissed.compelling ground to allow the present petition, the same is dismissed.compelling ground to allow the present petition, the same is dismissed.

It is made clearIt is made clear that any observation made herein above is onlythat any observation made herein above is onlythat any observation made herein above is only for the purpose of deciding the present petition and the same shall have nofor the purpose of deciding the present petition and the same shall have nofor the purpose of deciding the present petition and the same shall have nofor the purpose of deciding the present petition and the same shall have no bearing on the merits of the case.bearing on the merits of the case.

Since the main petition has beenSince the main petition has beenSince the main petition has been dismissed pending application,pending application, if any, is rendered infructuoif any, is rendered infructuous.