CJM Court Ganderbal rejects multiple bail applications of accused persons in Rs.200 crore cyber fraud

STC NEWS DESK
SRINAGAR, FEBRUARY 23 (STC): Multiple bail applications moved by several accused persons in a large-scale cyber fraud case with transactions amounting to nearly Rs. 200 crores under examination, have been rejected by the Court of Chief Judicial Magistrate Ganderbal, presided over by Ms. Nusrat Ali Hakak.
The accused persons have been booked under FIR No. 08/2026 of Police Station Ganderbal. Notably, the case has been registered under Sections 3(5), 61(2), 316(4), 318(4), 111 of the Bharatiya Nyaya Sanhita (BNS), Section 238 BNS (added during investigation), and Section 66-C of the Information Technology Act.
The bail applications were moved by several alleged accused persons, namely Ishfaq Ahmad Dar, Tawseef Ahmad Mir, Ekant @ Dr. Morphine (resident of Hisar, Haryana), Khursheed Ahmad Bhat, Maqsood Ahmad Sheikh, Tanveer Ahmad Malik, and Nasir Hameed Ganie, among others.
The case pertains to an organized cyber fraud racket involving misuse of ATM cards, SIM cards, bank accounts, QR codes, and digital platforms to siphon off substantial sums of money from unsuspecting members of the public. The investigation has revealed fraudulent transactions amounting to crores of rupees routed through multiple bank accounts. Operation of suspicious online platforms and domains allegedly used for cyber scams and illegal financial trails. Recovery of electronic devices including laptops, mobile phones, SIM cards, ATM/credit/debit cards, passports, vehicles, and other incriminating material. Freezing of dozens of bank accounts linked to the alleged illegal transactions. Preliminary analysis suggesting that approximately 200 bank accounts have been scrutinized so far, with alleged transactions amounting to nearly ₹200 crores under examination, reads the police report placed before the Court.
So far, nine accused persons have been arrested with investigation still in progress. Further arrests are not ruled out as the investigation progresses.
The prosecution submitted that the offences constitute grave economic crimes affecting the public at large and involve a well-coordinated network with digital and inter-state ramifications. It was further argued that the investigation is at a crucial stage, particularly with respect to forensic examination of digital devices, tracing of money trails, and identification of additional beneficiaries and handlers.
After hearing detailed arguments from both sides and perusing the case diary and material on record, the Hon’ble Court observed that the allegations disclose a prima facie case of organized cyber fraud having a wide societal impact. The recovery of multiple electronic devices, SIM cards, ATM cards and financial instruments indicates a structured and coordinated activity rather than an isolated incident.
The Court noted that economic offences involving organized networks and deep-rooted conspiracies stand on a different footing and cannot be treated lightly, particularly when they undermine public confidence in digital financial systems. Taking into account the seriousness of the allegations, the magnitude of the alleged fraud, the stage of investigation, and the potential risk of interference with the course of justice, the Hon’ble Court held that the accused persons are not entitled to bail at this stage.
Accordingly, the Court dismissed all the connected bail applications arising out of FIR No. 08/2026 of Police Station Ganderbal vide order dated 21-02-2026.
The dismissal of bail reflects the judiciary’s considered approach in matters involving large-scale economic offences impacting the general public and the digital financial ecosystem.
(Straight Talk Communications)