Jatin Yadav vs The State Of Madhya Pradesh

1 MCRC-32269-2025 IN THE HIGH COURT OF MADHYA PRADESH AT GWALIOR BEFORE HON'BLE SHRI JUSTICE MILIND RAMESH PHADKE ON THE 20th OF AUGUST, 2025 MISC. CRIMINAL CASE No. 32269 of 2025 JATIN YADAV Versus THE STATE OF MADHYA PRADESH Appearance: Shri Lokendra Sharma - Advocate for the petitioner.

Shri V P S Tomar Ga appearing on behalf of Advocate General[r-1]. Shri Lokendra Sharivastava, learned counsel for the respondent [COMP].

ORDER

This is first bail application under Section 483 of BNSS filed by the applicant for grant of bail.

The applicant has been arrested on 19.6.2025 by Police Station- Crime Branch, District Gwalior in connection with Crime No.47/2024, registered in relation to the offence punishable under Section 420 of IPC and section 66-D

of IT Act.

Prosecution case, in brief, is that the complainant lodged a complaint with regard to online fraud amounting to ₹28,01,600 after joining a WhatsApp group named "ICICI Securities NSE BSE 302," believing it to be genuine since he holds an account with ICICI Bank, he downloaded the fake trading app shared in the group, purchased shares, and initially received

Signature Not Verified Signed by: ASHISH PAWAR Signing time: 26-08-2025 16:38:44 NEUTRAL CITATION NO. 2025:MPHC-GWL:19246

2 MCRC-32269-2025 profit, which gained his trust. Later-on, he was persuaded to invest in IPOs and instructed to deposit money into various accounts. The app displayed increasing profits, and his portfolio showed a balance of ₹3.34 crore. However, when he tried to withdraw the money, he was told to first deposit 15% advance tax, after which no further communication was entertained. Upon visiting ICICI Bank, he discovered the app and found the group to be fake and thereafter on his complaint the investigation was started by the Crime Branch and during investigation the aforesaid offence has been registered against the applicant.

Learned counsel for the applicant submits that the applicant has been falsely implicated in the case. He has not committed any offence. He has no role in the alleged fraudulent transactions or in the operation of the

concerned bank account. The applicant has no knowledge of the said account and is neither the account holder nor has he ever received any proceeds of any crime. Trial will take time for its conclusion. The applicant is permanent resident of District Gwalior and there is no likelihood of his absconsion or tampering with the prosecution evidence. He is ready to abide by the terms and conditions as may be imposed. With the aforesaid submissions, prayer for grant of bail is made out.

Learned counsel for the State vehemently opposed the application and prayed for its rejection.

Heard the counsel for the parties and perused the case diary. It is evident from the perusal of the case diary that the accused have committed cyber fraud by impersonating as ICICI Bank employees on

Signature Not Verified Signed by: ASHISH PAWAR Signing time: 26-08-2025 16:38:44 NEUTRAL CITATION NO. 2025:MPHC-GWL:19246

3 MCRC-32269-2025 WhatsApp group with the complainant and cheated him online for Rs. 28,01,800/-. During investigation of the case, on 01.05.2024, an amount of Rs. 5 lakhs and Rs. 4,26,400/- was transferred from the bank account number 0789100100005218 of the complainant's wife to SBI bank account number 42584293850 and on the same date, out of the said amount, an amount of Rs 2,30,013/- was found to be transferred to Kotak Mahindra bank account number 1548217042 whose proprietor was Pappu Yadav and the mandate user in the account was the applicant. Jatin Yadav. Keeping in view the gravity of the crime, the increasing trend of cyber fraud at present and the above circumstances of the case, it does not seem appropriate to grant bail to the applicant. Therefore, the first bail application filed by the applicant/accused Jatin Yadav under 439 CrPC (Section 483 B.N.S.S.) is hereby dismissed.

(MILIND RAMESH PHADKE) JUDGE

(aspr)

Signature Not Verified Signed by: ASHISH PAWAR Signing time: 26-08-2025 16:38:44