Firm ran away with Rs 100 crore from investors

Sandy Verma

Tezzbuzz|17-10-2025

–Refused to grant anticipatory bail to accused Mohammad Qadir, application rejected

Prayagraj, 16 October (Read News). Allahabad High Court has rejected the application of the accused Mohammad Qadir, associated with the Freecharge Pay LLP firm, which has defrauded investors of Rs. 100 crores, by refusing to grant anticipatory bail.

The court said that considering the seriousness of the crime, bail cannot be granted. An FIR has been registered against the petitioner in Shahganj police station of Prayagraj on charges of depositing and digesting money from investors. The investigation of which is going on. The court said that the petitioner is not cooperating in the investigation. The trial court has issued a non-bailable warrant and attachment proceedings have been initiated. The investors have recorded their statement to the police saying that they had deposited money in the firm at the behest of the petitioner.

This order has been given by Justice Jitendra Kumar Sinha. The petitioner said that he has been falsely implicated. He has no connection with the firm. Nor is he associated with the firm as a partner. Co-accused Mohammad Kashif and Mohammad Asif have deposited the money from investors. He has not done this. Money has been recovered from them.

The complainant and government lawyer opposed the bail. The court said that the petitioner is not cooperating in the investigation. He is avoiding the legal process.

Investors have deposited money at its behest. Non-bailable warrant is issued. That’s why the sessions court did not grant anticipatory bail. He has been the founder of the firm.

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(Read) / Ramanand Pandey