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Journalism of Courage
VADODARA, June 17: The Chief Judicial Magistrate on Wednesday granted bail to C Natesan, chairman of the Anubhav group of companies, who is accused of duping investors in his company. The accused had filed a bail application which came up for hearing on Wednesday.
Natesan was accused of duping hundreds of investors including those from Gujarat and a case was registered against him by the Wadi police station under section 406, 420 and 120 B of the Indian Penal Code recently following a complaint by the aggrieved investors. He was then remanded in police custody for a period of 10 days.
The advocates for the accused 8212; Ashok K Palkar and and J Panchal 8212; argued that it was case of civil nature and public was not entitled to get refund of money for 20 years. They further argued that inspite of 60 days and over after the case was registered, the police had not filed the charge-sheet against the accused. After hearing the contention, the CJM ordered Natesan8217;s release on a bail of Rs 50,000.
Natesan had declared various attractive schemes including a farm plantation one and collected huge sum from investors in Ahmedabad, Vadodara, Rajkot, Mehsana, Gandhinagar and Anand.
