Authority: High Court of Chhattisgarh at Bilaspur (Chief Justice Ramesh Sinha)

Order Date: 31 July 2026

Case Overview

  • Parties: Applicant Vishwajeet Devnath, son of Shri Jatindra Devnath, aged about 43, residing at Village Itla, Podapada, Kalighat, Krishna Nagar, District Nadia, West Bengal. Respondent: State of Chhattisgarh through the Station House Officer, Police Station City Kotwali, District Raigarh.
  • Crime Details: Crime No.288/2026 registered at Police Station City Kotwali, District Raigarh under Section 420 of the Indian Penal Code (IPC).
  • Allegations: The complainant alleges that in 2022 the accused induced him and several others to invest money in the stock market, assuring opening of demat accounts and offering 6% monthly interest plus a 10% return on principal. The complainant obtained a bank loan of Rs 12,00,000 and transferred it to the account of GTG Product Services as directed by the applicant. Other investors collectively invested Rs 1,77,10,000. No demat accounts were opened, leading to suspicion of cheating.
  • FIR: Filed on 31 May 2026 at Police Station Kotwali, District Raigarh.
  • Custody: Applicant has been in custody since 18 June 2026.
  • Prior Proceedings: An earlier FIR concerning the same investment scheme resulted in bail being granted to the applicant by this Court.
  • Counsel Submissions: Applicant’s counsel argued false implication, delay of four and a half years, prior bail, sole breadwinner status, and anticipated lengthy trial. State counsel highlighted the alleged conspiracy, large number of victims, substantial financial loss, and risk of witness tampering.

Final Outcome

  • The Court allowed the bail application.
  • Applicant Vishwajeet Devnath is to be released on bail upon furnishing a personal bond with two sureties, subject to the following conditions:

1. Undertake not to seek adjournment when witnesses are present; default may be treated as abuse of liberty of bail.

2. Appear before the trial court on each date fixed, either personally or through counsel; absence without sufficient cause may lead to proceedings under Section 269 of the Bharatiya Nyaya Sanhita.

3. If bail is misused and the applicant fails to appear after a proclamation under Section 84, the trial court may initiate proceedings under Section 209.

4. Remain present in person on dates fixed for opening of the case, framing of charge, and recording of statement under Section 351 of BNSS; deliberate absence may be treated as abuse of liberty of bail.

  • The Office is directed to provide a certified copy of this order to the concerned trial court for compliance.

Topics: Bail, Investment Fraud, Criminal Procedure