Gauhati High Court grants default bail to five in online trading scam

The Gauhati High Court has granted default bail to five individuals involved in a high-profile online trading scam on November 26. 

This decision came after the Central Bureau of Investigation (CBI) failed to file a charge sheet within the required 90-day period.

The individuals granted bail are Sapnanil Das, linked to Dispur P.S. Case No. 934/2024; Jiten Deka, associated with Azara Case No. 184/2024, who had earlier received interim bail on medical grounds; Abhijit Chanda, connected to Dibrugarh Case No. 352/2024; Bishal Phukan, also linked to Dibrugarh Case No. 352/2024; and Tapan Bora alias Tarkik Bora, involved in Dibrugarh Case No. 352/2024.

The High Court's decision highlights a procedural lapse by the CBI in meeting the stipulated timeframe for filing charge sheets, as required under criminal procedure laws.

Also Read: Assam: CBI files chargesheet against accused Monalisa Das in online trading scam

Legal experts have noted that this ruling underscores the necessity of timely investigation and prosecution, even in cases of serious financial crimes. 

The bail decision has also brought attention to the wider allegations in the scam, which reportedly involves significant financial misappropriation through fraudulent online trading platforms.

Earlier this month, the Central Bureau of Investigation (CBI) on November 18  filed a chargesheet against Monalisa Das, a representative of DB Stock Consultancy, in connection with a fraudulent online trading scheme in Assam. The chargesheet was submitted before the Special Judge for CBI cases in Chandmari, Guwahati.

The investigation alleges that DB Stock Consultancy deceived investors through unregulated deposit schemes. "The chargesheet was filed under Section 25 read with Sections 21(1), 21(2), and 21(3) of the Banning of Unregulated Deposit Schemes Act, 2019; Section 409 of the Indian Penal Code; and Section 316(5) of the Bharatiya Nyaya Sanhita, 2023," said a CBI spokesperson.