Court dismisses bail plea of pvt firm Chairman in forgery case

New Delhi, Jan 22 (UNI) A city court today dismissed the bail application of a private software firm chairman and managing director KK Chaturvedi, who is alleged to have cheated around 3000 employees of their monthly salaries and refundable security deposit amounting to Rs 33 crore.

Metropolitan Magistrate J P Nahar, after hearing the arguments, dismissed the bail application on grounds that since the case was under investigation and at this stage, prima facie, not a single contract has been fulfilled by the accused which shows the conduct of the accused is not bona fide and from his subsequent conduct also the case can be looked into.

According to prosecution an FIR was registered against KK Chaturvedi and other top officials of the firm, Life Business Project Private Ltd, under Indian Penal Code(IPC) sections 420 and 406 for cheating and criminal breach of trust.

According to the FIR registered at Badarpur police station on a complaint by employees of the firm, it was alleged that during their appointment with the company the applicants were made to deposit a refundable security which had varied from Rs 60,000 to Rs 80,000 and it was promised that the employees would become permanent members of the firm after successful completion of a four-month training period.

The ones employed as developers were promised a salary of Rs 9,000 and consultants Rs 14,100. The employees did not receive salaries in the last couple of months.

UNI XC AM ND1822