A local court in Ludhiana has denied anticipatory bail to two individuals accused in a Rs 40-lakh cheating case, ruling that the bail application was not maintainable due to the non-disclosure of criminal antecedents.
Court's Observations
Additional Sessions Judge Jagdeep Sood passed the order while dismissing the bail pleas of Avon Sehgal and Tatum Sehgal. The court noted that the case involves allegations of misappropriation of property and loan funds, along with charges of criminal breach of trust. The judge emphasized that white-collar crimes require thorough investigation and that custodial interrogation of the suspects is necessary to uncover the full extent of the conspiracy.
Failure to Disclose Criminal Past
The court observed that a previous First Information Report (FIR) registered against one of the applicants was not disclosed in the bail application. Referring to a recent Supreme Court judgment and High Court rules, the court held that disclosure of criminal antecedents is mandatory in bail proceedings. This omission rendered the application defective.
Prosecution's Allegations
According to the prosecution, the complainant, Deepak Luthra, alleged that his maternal relatives gained his confidence after the death of his father in March 2022 and obtained his signatures on blank papers. Subsequently, the accused secured a loan of Rs 40 lakh from a finance company by mortgaging the complainant's plot. The loan amount was allegedly transferred into the accounts of the accused and their family members. Additionally, a car valued at Rs 6.25 lakh was reportedly misappropriated.
Money Trail and Investigation
The state submitted that nearly Rs 29.60 lakh from the loan amount had been diverted into the accounts of the applicants and their relatives. The prosecution argued that custodial interrogation is essential to trace the money and uncover the conspiracy. The court agreed, stating that the seriousness of the allegations and the need for a detailed investigation justified the denial of anticipatory bail.
The case was registered at the Daresi police station based on the complaint of Deepak Luthra. The court's decision underscores the importance of transparency in bail applications and the rigorous approach required in financial crime cases.
