Indore (Madhya Pradesh) [India], January 29 : Two individuals Abhishek Kumar Mahato and Anurag Kumar Jha, co-founders of a Bengaluru-based private company-Nonomex Technologies, were granted bail by the Indore Bench of the Madhya Pradesh high court in September last year. Earlier in July 2025 the two individuals were arrested on the charge of allegedly duping people of Rs 1.35 crore in a cryptocurrency investment scheme.
During the arguments in the court, the counsel for the applicants submitted that it was purely a civil transaction between the parties, as prior to investment the complainants were also taken to Bangalore, and they were also apprised of the business of the applicants, and after seeing their office and the business model, they have invested by entering into agreements in writing, copies of which have also been filed on record.
The counsel also submitted that the FIR itself is premature, as in the agreement, the lock-in period was twelve months, whereas, the complainants demanded the money prior to the said period. Counsel has also submitted that the both the applicants are promising young entrepreneurs, and have been wrongly arrested by the Police, despite the fact that they had come to Indore only on the notices issued by the concerned Police Station to co- operate with the investigation and to furnish all the documents, which they have already supplied to the Investigating Officer.
In its order the court granted bail saying that without commenting on the merits of the case, the application filed by the applicants is allowed. The Court further said, that the applicants are directed to be released on bail upon furnishing a personal bond in the sum of Rupees Twenty Five Thousand each with separate solvent surety each of the like amount to the satisfaction of the trial
Court for their regular appearance before the trial Court during trial with a condition that they shall remain present before the court concerned during trial and shall also abide by the conditions enumerated under Section 437 (3) Criminal Procedure Code.
In its order that Court is inclined to allow the present application with a further direction to the applicants that they shall make every endeavour to ensure that the losses suffered by the complainants are recovered, and they shall not sell any personal or their Company's immovable properties. The individuals were also directed to deposit their passport and shall not leave India without permission of the Trial Court.
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