1. ' Applicant is facing trial under section 420/406, P.P. C. Before the learned Sessions Judge, Karachi
(East) on the allegation that he was one of the directors in M/s. Alliance Motors (Pvt) Ltd. , Sabzi Mandi, Karachi. The F.I.R. Was lodged by one Haji Ahmed before the F.I.A. Wherein he stated that M/s. Alliance Motors (Pvt) Ltd. Had invited investment at 40-0/0 profit and that the complainant and his associates deposited more than seven lacs of rupees with the company. During the investigation it transpired that applicant was also director in the said company and more than 25 lacs of rupees were invested by various depositors which amount was misappropriated by the company and the directors had gone underground. The applicant was arrested and the co- accused in the case are still absconding. The applicant moved application for bail before the Sessions Judge (East), Karachi which was declined by him and applicant was refused bail by order dated 27-11-1988.
2. ' Mr. N.K. Jatoi, learned counsel has appeared on behalf of the applicant and it is contended by him that the applicant was working in M/s. Younus Enterprises, Clearing and Forwarding Agents and he had no concern with M/s. Alliance Motors (Pvt) Ltd. It is further argued that applicant was not a director of the company as alleged and that he has been falsely implicated in the case. It is also urged that the name of the applicant does not transpire in the F.I.R.
3. ' Mr. Abdus Sattar, the learned counsel on behalf of the D.A.-G and Mr. Salman Ansari for A.A.-G.
4. Have addressed the Court. It is contended that the applicant and co-accused had induced number of A persons to invest their hard earned money at 40% profit and by that they had obtained lacs of rupees which they ultimately misappropriated and it is further contended that the co-accused are still absconding and if the applicant is released on bail he is likely to bounce the bail and abscond.
5. ' I have heard the arguments of the learned counsel for the applicant at length and considered the contentions raised by him. The statements under section 161, Cr.P. C. Of P. Ws Iqbal Ahmed Yousufi, Muhammad Hanif, and Muhammad Nasir have been referred to by the learned State Counsel which clearly show that present applicant had induced them and the applicant alongwith other co-accused were responsible to induce them to invest money with M/s. Alliance Motors (Pvt.) Ltd.
6. And even some of the receipts have been issued by the present applicant for various deposits.
7. There is no allegation nor it was argued that the witnesses had any enmity with the applicant so as to prompt them to falsely involve the applicant in the case. The receipts have been recovered during the investigation and he has not produced any proof of being in service of M/s. Younus Enterprises excepting one card which by itself does not show that what is contended on behalf of the applicant could be true. The receipts issued by the applicant are for the amount of more than eight lacs of rupees. No doubt the name of the applicant is not mentioned in the complaint by complainant Haji Ahmed but it was during the investigation which piece of evidence has come to the light and collected by the Investigating Agency from which it has transpired that the applicant was one of the directors of the company and he also obtained deposits by inducing various persons. Number of persons were induced to invest their hard-earned money with the above company and the amount of more than 25 lacs of rupees had been misappropriated.
8. ' Prima facie the case of breach of trust has been made out. The co-accused are still at large and there is every possibility that the applicant if released on bail may abscond.
9. ' In view of above discussion I do not feel convinced and I am of the view that no case for bail is made out at this stage. The application is accordingly dismissed. However, the applicant may repeat his plea for bail after three material witnesses are examined during the trial and if the applicant is so advised.
10. ' Cr.Bail Application No,'1202/88 is disposed of as dismissed.