The Rouse Avenue court has sentenced Ranbir Singh Kharb, a former MLA, and his wife, Anita Kharb, to seven years in prison for their involvement in a case of cheating and criminal conspiracy. Additionally, the court has levied a fine of Rs. 44 lakh on the couple.
Regarding the couple, this case involves cheating investors from 1998 to 2004, a period during which Kharb served as a sitting MLA. The Economic Offense Wing of Delhi Police registered the case in 2006.
According to the prosecution, the defendants deceitfully and dishonestly persuaded the complainant, Pravin Kumar, to invest money in the company. Consequently, he invested Rs. 23 lakhs without receiving any returns or refunds. Ranbir Singh Dahiya was also deceived, losing Rs. 1.34 Crores.
On February 24, Additional Chief Metropolitan Magistrate (ACMM) Priyanka Rajpoot handed down a seven-year prison term to the convicts, Ranbir Singh Kharb and Anita Kharb. The court specified that both of them have to serve seven years of rigorous imprisonment and pay a fine of Rs. 22 lakh for the offense punishable under Section 420 of the IPC, read with Section 120-B of the IPC.
The court has granted probation to the third convict, Satprakash, directing him to provide bonds under Section 4 of the mentioned Act, amounting to Rs. 50,000, along with one surety of equal value.
Ranbir and Anita Kharb, who were previously out on bail, have been instructed to present themselves before the court on Monday. Their legal representatives appealed to the court to suspend the sentence and grant bail until the appeal against the verdict and the sentencing order is filed.
The Court observed that the provision for suspension of sentence under Section 389(3) of the Cr.P.C. does not apply, given that the convicts, Ranbir Singh Kharb and Anita Kharb, have been sentenced to seven years of imprisonment. They are directed to surrender before the Court on the next date of hearing, the court directed on Saturday.
Ranbir Singh Kharb, Anita Kharb, and Satprakash engaged in acts of cheating, criminal breach of trust, and criminal conspiracy, deceiving numerous unsuspecting investors, many of whom were relatives and acquaintances of the accused individuals. They perpetrated this deception under the guise of ‘investments’ in a company named M/s Jyoti Fair Finance Company.
According to the prosecution, the accused individuals enticed the public to invest in the company by promising attractive high interest rates and financial gains. However, it is alleged that they never had any intention of returning the invested money. Any payments made, if indeed there were any, were merely to entice innocent investors into making additional investments.
Anita Kharb, the accused, held the position of director within the company. She and Satprakash issued receipts in the company’s name and frequently persuaded both the general public and her acquaintances to invest money in the company.
The accused Ranbir Singh Kharb is purportedly the central figure in the entire affair, despite not officially holding any position within the company. According to the prosecution, he clandestinely operated the company without holding any formal role such as director or employee. The prosecution alleges that nearly every victim was induced by Kharb himself.
