HC grants bail to two accused in multi-crore StockGuru scam

The Delhi High Court today granted bail to two men who were allegedly agents of Ullas Prabhakar, the main accused in the multi-crore StockGuru scam.
Justice Sunita Gupta granted bail to Naresh Kharab and Nitin Sinha, saying there is no evidence of the two threatening witnesses or interfering with evidence during the investigation.
"In the instant case, the petitioners (Kharab and Sinha) are in custody for more than one year. There is no evidence of the petitioners threatening witnesses or interfering with evidence during the investigation.
"Having regard to the entire facts and circumstances of the case, the bail applications are allowed and the petitioners are ordered to be released on bail on furnishing a personal bond in the sum of Rs five lakh each with two sureties in the like amount...," the court said.

While enlarging the two on bail, the court also referred to the Supreme Court's findings in the cases of 2G case accused Sanjay Chandra and graft case accused Y S Jaganmohan Reddy that there was no good reason to detain them in custody, especially after completion of the probe and filing of the charge sheet.
The court also imposed certain conditions on the two Stockguru case accused, which included not to influence the witnesses in any manner, to surrender their passports and not to leave the country without prior permission of the trial court.
Senior advocate Geeta Luthra and advocate Narendra Goyal, appearing for Kharab, contended that he was a victim who had invested in the company and he himself was duped of his hard earned money. They also said that he was made an accused in the present case due to faulty investigation of the police.

They also argued that the charges are yet to be framed in the case in which charge sheet was filed in August last year and added that as a result the trial would take a long time.