In a petition filed before the Punjab and Haryana High Court under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS), seeking regular bail regarding a First Information Report (FIR) registered for commission of offences under Sections 316(5), 318(4), and 61 of the Bharatiya Nyaya Sanhita, 2023 (BNS), a Single Judge Bench of Justice Jasjit Singh Bedi granted bail to the accused.
The petitioner was a former Non-Executive Additional Director of Smartpaddle Technology Pvt. Ltd. (Bizongo) and he was involved in multiple FIRs that were registered for an alleged investment fraud of approximately Rs. 100 Crore perpetrated against several investors in the company. It was submitted that three other co-accused persons had surrendered and had been granted bail after provision of all necessary documents to the Investigation Agency.
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The Court noted that the petitioner had been in custody since 03-06-2026 and found that further incarceration was not required. The petitioner was directed to be released on bail upon furnishing bail bonds and surety bonds to the satisfaction of the Duty Magistrate concerned. Thus, the petition was disposed of.
