Cr.M.P.(M) No. 1302 of 2008 and Cr.M.P.(M) No. 1303 of 2008. 16.12.2008 Present: Mr. Vikas Bhardwaj, Advocate for the petitioner. Mr. R.K. Sharma, Sr. Addl. A.G. with Mr. Anil Jaswal, Dy. A.G. for the respondent. These are the applications under Section 438 of the Code of Criminal Procedure for granting pre-arrest bail to the petitioners in FIR No. 200 of 2008 dated 11.12.2008 registered at Police Station, Dharamshala under Sections 409, 420 and 120-B of the Indian Penal Code. Since these applications arise out of the same FIR, they have been taken up together for disposal. The case of the prosecution in nutshell as per the report is that the petitioner-Shri Vineet Joshi had floated a company in the name and style “Dhanvarsha Forest (India) Limited” with its head office at SCO-95, Sector 40-C, Chandigarh. The modus operandi of the company was to receive huge amount assuring the investors of high dividends. The petitioner-Shri Vineet Joshi was the Managing Director of the company and the petitioner-Shri R.P. Sharma was designated as Regional Manager of the company at Dharamshala. The complainant also deposited a sum of Rs. 30,400/- in various schemes floated by the company. However, on maturity, post dated cheques when presented in the bank were dishonoured. Mr. Vikas Bhardwaj has strenuously argued that his clients are innocent persons and have been falsely implicated in the case at the instance of the complainant with whom the petitioners have litigation. He then contended that his clients are ready and willing to comply with all directions issued by the Court if they are enlarged on bail. The learned Senior Additional Advocate General has opposed the bail applications. I have heard the learned counsel for the parties and have perused the report. What transpires from the report is that Shri Vineet Joshi had floated the finance company called “Dhanvarsha Forest (India) Limited”. It was mainly an Agro Forestry concern, however, it was doing business in banking by inviting investments in various kinds of term deposits, pension schemes etc. The gullible citizens were made to believe that their amount will double in a shortest possible time. To show their bona fide, they used to issue post dated cheques. The cheques issued were dishonoured. The investigation is at a very initial stage. In case the petitioners are enlarged on bail, the investigation will indefinitely be hampered. Accordingly, the petitioners have not made out a case for their bail. In view of the observations made hereinabove, there is no force in the applications and the same are dismissed. The observations made in this order are for the disposal of this application and these shall not be treated as an expression/opinion on the merits of the case. Copy ‘Dasti’ on usual terms. (Rajiv Sharma), J. December 16, 2008. (cr)