Patna High Court
Jitendra Kumar RajeevversusThe State of Bihar
- Decided
- Disposal
- DISMISSED
- Bench
- SANDEEP KUMAR
Holding
The court held that regular bail could not be granted as the allegations of substantial financial fraud and the prima facie evidence warranted the petitioner’s custody.
Summary
The petitioner, Jitendra Kumar Rajeev, was charged under Sections 316(2), 318(4) and 3(5) of the Bharatiya Nyaya Sanhita, 2023 for allegedly inducing the public to invest in a company, M/s Jollywood Industry Private Limited, and then misappropriating the funds. The prosecution presented prima facie material indicating his involvement in large transfers from the company’s bank account. The petitioner applied for regular bail, arguing that the case was still at the investigation stage. The court examined the seriousness of the alleged financial fraud, the magnitude of the loss, and the strength of the prima facie evidence. Concluding that the allegations were grave and the evidence sufficient to warrant custody, the court refused bail. The bail application was dismissed, with the court noting that its observations were limited to the bail matter and would not affect the trial.
Issues considered
- Whether regular bail should be granted to the accused in a case involving alleged large‑scale financial fraud under the Bharatiya Nyaya Sanhita.
- Whether the prima facie evidence disclosed by the prosecution is sufficient to justify denial of bail.
Legislation cited
- Bharatiya Nyaya Sanhita, 2023 — s. 316(2), 318(4), 3(5)
Subjects
- bail
- financial fraud
- misappropriation
- investment scam
- company fraud
- criminal procedure
Judgment
IN THE HIGH COURT OF JUDICATURE AT PATNA
CRIMINAL MISCELLANEOUS No.7920 of 2026
Arising Out of PS. Case No.-224 Year-2024 Thana- JAMALPUR District- Munger
======================================================
Jitendra Kumar Rajeev S/O Indra Deo Tanti R/O Vill.- Naya Tola Fulka, P.S.-
Jamalpur, Dist.- Munger.
... ... Petitioner/s
Versus
1. The State of Bihar
2. Md. Talib Hussain, S/O- Samsuddin R/O vill- Bakarpur, P.S.- Muffasil,
District- Munger
... ... Opposite Party/s
======================================================
Appearance :
For the Petitioner/s : Mr. Kumar Kamal Nayan
For the Opposite Party/s : Mr. Upendra Kumar
======================================================
CORAM: HONOURABLE MR. JUSTICE SANDEEP KUMAR
ORAL ORDER
5 23-06-2026 Heard learned counsel for the petitioner and learned
APP for the State.
2. The petitioner seeks regular bail in connection with
Jamalpur P.S. Case No. 224 of 2024 registered for the offences
under Sections 316(2), 318(4) and 3(5) of the Bharatiya Nyaya
Sanhita, 2023.
3. As per the prosecution case, the petitioner, along
with the co-accused persons, under the guise of a registered
company namely M/s Jollywood Industry Private Limited, is
said to have induced members of the public to invest their
money and thereafter dishonestly misappropriated the invested
amounts. It is alleged that many investors were cheated and
Patna High Court CR. MISC. No.7920 of 2026(5) dt.23-06-2026
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defrauded.
4. The materials collected during the course of
investigation disclose specific allegations against the petitioner
and prima facie indicate his involvement in the transfer of
substantial amounts from the company's bank account.
5. Considering the nature and gravity of the
allegations, the magnitude of the alleged financial fraud and the
prima facie materials available on record, this Court is not
inclined to grant regular bail to the petitioner at this stage.
6. Accordingly, the application stands dismissed.
7. It is made clear that any observation made herein is
prima facie in nature and limited solely for the purpose of
adjudication of the present bail application. Such observations
shall not be construed as an expression on the merits of the case
and shall not influence the trial or any other proceedings in any
manner.
(Sandeep Kumar, J)
Shishir/-
U T
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