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ARUN NIGAM AND ANOTHER versus STATE OF U.P.

High Court of Judicature at Allahabad

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Arun Nigam And Another v. State Of U.P. - CRIMINAL MISC. BAIL APPLICATION No. 23636 of 2005 [2006] RD-AH 6515 (24 March 2006)

 

This is an UNCERTIFIED copy for information/reference. For authentic copy please refer to certified copy only. In case of any mistake, please bring it to the notice of Joint Registrar(Copying).

HIGH COURT OF JUDICATURE OF ALLAHABAD

                                                                                                               Reserved

Criminal Misc. Bail Application No.   23636  of      2005

Arun Nigam and another      ...                       ..                       ...                     Applicant

                                         Vs.

State of U.P.                           ...                        ...                     ...                   Opp. Party

                                                                .......................

Hon. G.P. Srivastva, J.

Heard learned counsel for the applicants and learned A.G.A.

It is alleged that the applicants were running a business of sale and purchase of shares in the name of M/S Rishabh Shares and Securities. The complainant had given Rs. 10,38,192.00 P. for purchase of shares but instead of purchasing the shares the applicants misappropriated the money.

It is argued by the learned counsel for the applicants that Rs. 8,23,926.54 P. as profit was given to the complainant from 11.12.04 to 25.4.05 and thereafter  applicant No. 1 was arrested and the remaining amount could not be paid.

It is apparent that the liability had not been denied by the accused persons. I am of the opinion that the applicants deserve bail.

Let the applicants Arun Nigam and Abhay Nigam involved in Case Crime No. 234-C of 2005 under sections 420/406/467/468/471/120-B I.P.C. P.S. Hari Parwat District Agra be released on bail on his furnishing a personal bond with two sureties each in the like amount to the satisfaction of Court concerned.

Dt. 24.3.06

GNY


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