Pratap Kumar Rout Granted Bail Rs1 Lakh

Authority: High Court of Orissa at Cuttack

Order Date: 22 July 2026

Petitioner: Pratap Kumar Rout, represented by Advocate A.K. Patra.
Opposite Party: State of Odisha, represented by Advocate J.P. Patra (Additional Public Prosecutor).
Application filed under Section 483 of the Banning of Unregulated Deposit Scheme Act (BNSS) seeking bail in connection with Economic Offences Wing (EOW) Bhubaneswar Police Station Case No.14 of 2025 and CBI Case No.17 of 2025 pending before a Designated Court under the OPID Act.
Allegations: Petitioner allegedly collected Rs 1.88 Lakhs from 18 depositors for a scheme promoted by Hadgex Fund LLP and transferred the amount to accounts of co‑accused companies, purportedly to defraud investors. Charges include IPC Sections 420, 467, 468, 471, 120(B) and provisions of the PCMC Act, Banning of Unregulated Deposit Scheme Act, and IT Act.
Counsel for petitioner argued he was merely an employee who collected money and transferred it to the company’s account without criminal intent and has cooperated with investigation. Counsel for the State contended the petitioner participated in promotional activities and was part of the conspiracy.
The court noted that while the petitioner collected the amount, there was no material indicating diversion of funds for personal use, and he is a functionary of Hadgex Fund LLP. Custodial interrogation was deemed unnecessary.

The court granted bail to Pratap Kumar Rout, ordering the furnishing of a cash bond of Rs 1 Lakh along with two solvent sureties of equal amount, subject to any further terms the court may deem fit.
The petitioner, who had been in custody since 18‑Oct‑2025, was released on bail.
The order was to be electronically communicated to the concerned court and jail for implementation.

Topics: Bail, Unregulated Deposit Scheme