HC approves bail of trader accused of duping villagers of Rs 200 cr

The Punjab and Haryana High Court has approved the bail plea of a businessman who has been accused of duping hundreds of villagers of nearly Rs 200 crore.

Allowing the petition, Justice Manjari Nehru Kaul of the Punjab and Haryana High Court said it was evident that the likelihood of the trial concluding in the near future was remote.

"In view of the prolonged custody of the petitioner in a magisterial trial and the slow progress of the trial, the instant petition is allowed. The petitioner be admitted to bail on his furnishing bail/surety bonds to the satisfaction of the trial court/Duty Magistrate concerned; the trial court may impose any such stringent conditions upon the petitioner to ensure his presence during the trial," the judge said.

"However, it is made clear that anything observed hereinabove shall not be construed to be an expression of opinion on the merits of the case", the orders stated.

Suresh Sharma of Bahalba village in Rohtak district had left the village along with his family members allegedly after defrauding hundreds of villagers.

Sharma had been operating as a commission agent for about two decades and used to make advance payments to farmers for their agricultural produce. The villagers also deposited cash with him as he gave them good interest. He gradually won their trust and collected crores from them as deposits.

However, he suddenly left the village with his family on the night of June 8, 2022, leaving the depositors in a state of shock.

Following that, an FIR dated 13.06.2022 under various Sections of the IPC was registered at Meham police station in Rohtak district. The accused were later arrested.

Bahalba sarpanch Manoj Kumar, who is the main complainant in the case, has alleged that Sharma had taken Rs 35 lakh from him before fleeing.