Anticipatory Bail Denied in Economic Offence: Prior Conviction and Multiple FIRs Weigh Against Accused

1. Case Snapshot

• Case Name: Harith Nagindas Kampani vs State (Govt. Of Nct Of Delhi)

• Citation: 2026:DHC:5501

• High Court: High Court of Delhi

• Bench: Hon'ble Mr. Justice Girish Kathpalia

• Date of Decision: July 9, 2026

• Area of Law: Criminal Law – Anticipatory Bail under Section 438 CrPC; Cheating under BNS; Economic Offences

2. Judgment in Brief

The Delhi High Court dismissed an anticipatory bail application filed by an accused in a cheating case involving a sum of Rs. 3.54 crores. The accused had accepted money from the complainant on the promise of transferring shares, despite not being the holder of those shares. The Court rejected the argument that it was merely a failed business transaction, noting that the accused had issued a delivery slip and acknowledged receipt of funds despite knowing he did not own the shares. The Court further noted the accused's antecedents—including a previous conviction under Section 138 of the Negotiable Instruments Act and another FIR involving financial fraud—as reasons to deny bail. The Court held that custodial interrogation was required to unearth the full extent of the offence and dismissed the application.

3. Relevant Facts

• The Allegation: The accused/petitioner was alleged to have cheated the complainant by inducing him to transfer Rs. 3,54,00,000/- on the promise of transferring shares. The accused did not hold those shares even before accepting the payment.

• Transaction Details: On September 1, 2025, the accused took Rs. 3,54,00,000/- for sale of shares, despite not holding those shares since July 10, 2025.

• Partial Return: On September 3, 2025, when the complainant was "lying" in front of the accused's house, the accused transferred shares worth Rs. 88,00,000/- and paid Rs. 60,00,000/-. On September 8, 2025, he transferred another Rs. 5,00,000/- and handed over property documents worth Rs. 2.5 crores as security.

• Bounced Cheques: On October 5, 2025, the accused issued two cheques totaling Rs. 2,00,98,000/-, which bounced.

• Accused's Defence: The accused claimed he himself was cheated by another person (Heet Shah) who failed to transfer shares to him. He had transferred Rs. 2.80 crores to Heet Shah, who is now in jail. The accused cl

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