Bail Appln./1077/2025 AMAL CH ARJYA v. THE STATE OF ASSAM

Advocate for the Petitioner : MR. P RAHMAN, MR S ISLAM Advocate for the Respondent : PP, ASSAM, HON’BLE MR. JUSTICE MANASH RANJAN PATHAK BEFORE 21/04/2025 Heard Mr. P Rahman, learned counsel for the petitioner and Mr. K K Parashar, learned Additional Public Prosecutor, Assam for the State respondent.

This application under Section 483 of BNSS, 2023 has been filed by the petitioner, namely, Amal Ch. Arjya, son of late Mohan Ch. Arjya, resident of Village-Deotary, Kirtanpara, P.S. Abhayapuri, District-Bongaigaon, on 05.04.2025, seeking bail in Kokrajhar P.S. Case No. Page No.# 2/3 194/2024 registered under Sections 316(2)/318(1) of BNS read with Sections 21(1)/21(2)/21(3) of Banning of Unregulated Deposit Schemes Act, 2019 corresponding to G.R. No. 394/2024, wherein he was arrested on 29.03.2025 and is in custody since then.

Mr. Rahman, learned counsel for the petitioner submitted that the petitioner is not an FIR named accused pertaining to said Kokrajhar P.S. Case No. 194/2024 and the FIR is against the two accused persons, namely, Anowar Hussain and Asraful Ahmed.

Mr. Rahman, learned counsel for the petitioner also submitted that in a similar nature of case in Abhayapuri P.S. Case No. 216/2024 registered on 07.09.2024 under Sections 316(2)/318(2) of BNS read with Sections 21(1)/21(2)/21(3) of Banning of Unregulated Deposit Schemes Act, 2019 corresponding to N.G.R. No. 404/2024, the Hon’ble Supreme Court in petition for Special Leave to Appeal (Criminal) No. 14464/2024 vide order dated 23.10.2024 granted him anticipatory bail which is in force till date.

In the case in hand, it is seen that on 05.09.2024, the informant Prafulla Kr. Nath lodged a written FIR before the Officer-in-Charge of Kokrajhar Police Station alleging that the accused persons, namely, Anowar Hussain and Asraful Ahmed introduced themselves as high officials of a financial institution, namely, Hedgex Fund Trading Company and informed them that whatever money is invested for a year, it will be doubled on such amount of investment. On the basis of such false assurance, the informant invested Rs.10,00,000/- and his friend, Shri Krishna Kt. Ray invested Rs.6,41,652/-, altogether Rs.16,41,652/-. In that manner, the accused persons fraudulently took money from various investors and started enjoying luxurious life, constructed building etc. Though, the informant approached the accused persons of the case, they did not return the money that he and his friend invested. In the said FIR dated 05.09.2024, it was also indicated that the accused persons took certain amount in cash and the remaining in the bank account of Mahindra Kotak Bank. The said FIR was accordingly registered as Kokrajhar P.S. Case No. 194/2024 under Sections 316(2)/318(1) of BNS read with Sections 21(1)/21(2)/21(3) of Banning of Unregulated Deposit Schemes Act, 2019 corresponding to G.R. No. 394/2024. In the said Kokrajhar P.S. Case No. 194/2024, the FIR named accused persons, namely, Anowar Hussain and Asraful Ahmed were arrested.

Perused the case diary placed before the Court today by Mr. Parashar, learned Additional Public Prosecutor, Assam.

Mr. Parashar, learned Additional Public Prosecutor, Assam from the case diary submitted that Page No.# 3/3 the investigation of the case is presently going on.

Mr. Parashar, learned Additional Public Prosecutor, Assam from the case diary also submitted that the petitioner is one of the leader of the said Hedgex Fund Trading Company, who had fraudulently taken money from various investors and during investigation of the case, the petitioner’s involvement in the said Hedgex Fund Trading Company came to light which according to the petitioner, the said company was closed down on 29.03.2024.

As the case diary reveals sufficient incriminating materials against the petitioner with regard to his involvement in the alleged crime and since the investigation is still going on, the Court is of the view that the detention of the petitioner in custody since 29.03.2025 cannot be considered for his bail in said Kokrajhar P.S. Case No. 194/2024.

Accordingly, this bail application of the petitioner, Amal Ch. Arjya, in said Kokrajhar P.S. Case No. 194/2024 stands rejected.

Return the case diary. JUDGE Comparing Assistant