Anticipatory bail
Source: The Sangai Express

Imphal, September 10 2021: Sessions Judge Imphal West accepted anticipatory bail application filed by five persons in connection with a case registered against Salai Holding Private Limited, SMART Society under section 403/420 and 120-B IPC.

The anticipatory bails were filed by Akoijam Deepanand (41), s/o Nanda-lal of Kwakeithel Akham Leikai, Narengbam Biswajit (53), s/o Jogendrakumar of Tera Loukrakpam Leikai, Chingtham Shyamson (42), s/o Chaoba of Singjamei Mayengbam Leikai, Tou-rangbam Tikendra (45), s/o (L) Joychandra of Uripok Tourangbam Leikai and Elangbam Brojendro (42), s/o Bhubaneshwor of Keishamthong Elangbam Leikai under section 438 Cr PC.

The Court, while granting the interim anticipatory bail, directed the Officer-in-Charge of Lamphel police station to furnish a detail report in connection with the applications.

The Court heard petitioners' counsels and APP of the State and observed that the case was registered by Lamphel Police based on complaints lodged by 15 individuals for taking up necessary action to recover their deposited money from Salai Holding Private Limited, SMART Society located at Tera Loukrakpam Leikai.

Counsels of the petitioners submitted that the petitioners are the staff of the Salai Group of Companies registered under the Bombay Money Lender Act 1946 .

SMART Society is also registered under the Manipur Societies Registration Act 1989.It was further submitted that on October 30, 2019 OC Lamphel Police Station registered a suo moto case against Narengbam Samarjit, the then Managing Director of Salai Companies cum secretary of SMART Society and one Yambem Biren.

The case was transferred to National Investigation Agency (NIA) and they re-registered an FIR case on November 11, 2019 .

The counsels contended that Salai Company and SMART Society could not give the interest of the depositors as the investigating agency, apart from locking the offices, freezed its bank accounts.

The Court observed that the main allegation of the complainants against the petitioners is that SMART Society failed to pay the interest of depositors from November 2019 onwards.

However, they failed to pay the interest after a case was registered by Lamphel Police in October 2019.The Court further observed that since the bank accounts and offices of the petitioners have been sealed by the NIA and no transaction allowed, the petitioners have no means to pay the interest.

The Court then granted absolute bail to the petitioners on the conditions which were mentioned in the interim order granted earlier.

The Court, however, said that the IO of the case has the liberty to cancel the bail, if the petitioners violate any conditions.

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