The Supreme Court on Monday granted bail to Paramjit Kharb in a case arising out of an alleged online investment fraud involving the use of bank accounts opened in the name of “R.S. Trading,” holding that “the case for bail is made out.”
A Bench of Justice B.V. Nagarathna and Justice Ujjal Bhuyan allowed the appeal challenging the Delhi High Court's order refusing regular bail. The Court observed, “Considering the facts on record, in our view, the case for bail is made out,” and directed that the appellant be released on bail subject to conditions to be imposed by the trial court.
The plea arise from an FIR registered on February 16, 2024 by the Special Cell, Delhi, for offences under Sections 419 and 420 read with 120B of the IPC and Sections 66C and 66D of the Information Technology Act, 2000.
According to the plea, the prosecution case pertains to an alleged online investment fraud in which complainants were induced to invest through fake trading applications and websites. It is alleged that substantial sums were transferred to bank accounts, after which access was blocked. The complaint forming the basis of the FIR alleged that Rs.29.5 lakh was transferred to a Punjab National Bank account in the name of “R.S. Trading."
The investigation alleged that certain co-accused procured and sold pre-opened bank accounts and credentials, and that forged Aadhaar and PAN cards were used to open bank accounts in the name of “Rinku Singh,” which were subsequently used in the alleged fraud.
Kharb was arrested on March 17, 2024, and has remained in custody since then. Before the Supreme Court, counsel for the appellant submitted that five out of nine co-accused have been granted regular bail and that there is no challenge to those orders. It was further submitted that charges have not yet been framed and that 26 witnesses are to be examined.
Opposing the plea, the State contended that the appellant had a significant role and that other criminal antecedents against him were under investigation. It was submitted that a grant of bail would frustrate the investigation and the trial.
Allowing the appeal, the Supreme Court directed that the appellant be produced before the concerned trial court and released on bail subject to appropriate conditions to ensure his presence in the proceedings. The court directed that he deposit his passport, if any, before the trial court and report to the jurisdictional police station on the first Monday of every month.
The court further directed that the appellant shall extend complete cooperation in the ensuing trial, shall not misuse his liberty, and shall not influence witnesses or tamper with the material on record. It clarified that any infraction of the conditions may entail cancellation of bail.
With these directions, the criminal appeal was allowed.
For Appellant: Advocates Anurag Ojha, Vipul Kumar, Karan Aggarwal, Dipak Raj, Aayushman Bhatt
For Respondent: ASG Satya Darshi Sanjay with Advocates Divyam Aggarwal, Mrigna Shekhar, Aman Jha, Sunanda Shukla, Udit Dedhiya, Khushal Kolwar and AOR Mukesh Kumar Maroria.