CJM denies bail to Gulati brothers

Excelsior Correspondent

JAMMU, Nov 24: Chief Judicial Magistrate (CJM) Jammu Ashwani Sharma has rejected the bail application filed by Shalender Gulati and Sandeep Gulati, who are allegedly involved in duping of Rs 13 crore.
After hearing Senior Advocate Sunil Sethi and Advocate Pranav Kohli for the applicants whereas Senior Advocate PN Raina with Advocate YE Tak for the complainant and Senior Prosecuting Officer Rohit Gupta for the State, CJM observed, “in the present case the recovery of Rs 12.90 crore has not been effected. The investigation of the case is still at infancy and the custodial interrogation of the accused is still necessary”.
“Though embargo contained under Section 497 CrRC is not attracted but taking into consideration the amount involved in the transaction and larger interests of the general public and State, the accused does not deserve the concession of bail at this stage”, the Court said.
“In the present case prima facie there are reasonable grounds for believing that the accused have committed a non-bailable offence under Section 420 RPC but that there are sufficient grounds for further inquiry into guilt, as such, pending such inquiry the accused does not deserve to be enlarged on bail”, the court further said while rejecting the bail application.
Shallender Gulati and Sandeep Gulati were arrested by Crime Branch in FIR 36/2018 under Section 420,120-B RPC on 17.11.2018. Gulati brothers had duped the complainant namely Navneet Mahajan by entering into an agreement.
A deal was struck between the complainant and accused brothers for Rs 26 crore for purchase of prime land situated at Kunjwani belonging to the accused brothers out of which Rs 13 crore were paid to the accused brothers by the complanant and as per the agreement the amount had to be deposited by the accused brothers in releasing the land mortgaged with the bank.
However, the accused persons instead of releasing the land mortgaged duped the complainant of Rs 13 crore.

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