Magnitude or gravity of offence can’t be only ground for denying bail: Delhi High Court

The two men, Sunder Singh Bhati and Rajesh Mahto, were accused of duping hundreds of people on the promise that if they invested in the company belonging to the accused, it would fetch them returns of 200 per cent a year.

They told people that their company was registered with the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), and their plan is to expand it on the lines of Ola and Uber.

On a complaint by one Dharmendra Singh, the Economic Offences Wing of the Delhi Police booked the duo under several sections of the Indian Penal Code (IPC), charging them with cheating and fraud.

It was revealed that nearly 900 complaints were pending against the accused and their company and the total amount collected from investors was estimated to be around ₹240 crore.

Source: Barandbench