Delhi court denies bail to man accused in Rs 1cr cheating case

New Delhi, July 3  A Delhi court has denied bail to a person accused of defrauding a man of over Rs 1 crore by falsely promising to return the maturity amount of his insurance policy.

Special Judge Devender Kumar Jangala dismissed the bail application of Rahul Soni, who allegedly deceived complainant Prakash Chand Sharma on various pretexts and temptations such as virtual account opening fees, case initiation fees, and premiums.

The accused persons persuaded him to transfer a total of Rs 1.06 crore into different bank accounts.The court while denying bail observed that Soni and his co-accused went to great lengths to deceive the complainant.

They sent fraudulent payment receipts that had counterfeit logos, watermarks, seals, and signatures of the Insurance Regulatory and Development Authority of India (IRDAI).They also forged letters from the Ministry of External Affairs, fabricated agreements, and created fake identity cards.

The judge rejected the applicant's counsel's argument that the investigation against Soni was already complete and keeping him in custody served no purpose.

The judge said that mere completion of the investigation and filing of the charge sheet were not sufficient grounds for granting bail, especially when the allegations against the accused were serious and grave.

The filing of the charge sheet actually strengthened the prosecution's case against Soni, the court noted.

Given the significant amount of money lost by the complainant, the judge found no ground for granting bail based on the role played by the accused.

According to the prosecution, Soni was allegedly responsible for managing the bank accounts and cash withdrawals related to the defrauded amount. He also used his bank account to divert the cheated money.