1
BA 109-22 in CR 818/21
BEFORE THE DESIGNATED COURT UNDER THE M.P.I.D. ACT
CITY CIVIL & SESSIONS COURT, MUMBAI
BAIL APPLICATION NO. 109 OF 2022
(CNR No. MHCC020005112022)
IN
C.R. No. 818 of 2021
James John Kuttan
Aged : 39 yrs. Occ : Business,
residing at Flat no.104, Orlem Peace Building,
Nera St. Joseph School, Marve Road,
Orlem, Malad (W), Mumbai 400064.
]
]
]
]
]… Applicant/Accused
Versus
The State of Maharashtra.
(Sr. Inspector of Police,
Malad Police Station)
]
]
]… Respondents
Appearances:
Ld. Advocate Nilesh Dave for Applicant.
Ld. SPP Mrs. Tendulkar for the State/ Respondents.
CORAM : HIS HONOUR JUDGE
SHRI C. V. MARATHE
(Court Room no. 7)
DATED : 21st January, 2022.
ORAL ORDER
1.
This is an application for direction to release on bail under
Section 439 of the Code of Criminal Procedure, 1973.
2.
The applicant / accused James John Kuttan’s (hereinafter
“applicant”) contentions are as under :
The applicant came to be arrested on 26.10.2021 in CR 818
2
BA 109-22 in CR 818/21
of 2021 of Malad Police Station for allegedly involved in the offences
punishable under Sections 406, 420 r/w Section 34 and Sections 3 and
4 of The Maharashtra Protection of Interest of Depositors (In Financial
Establishments) Act, 1999 (hereinafter “MPID Act”). From the charge
sheet the allegations against the applicant are that he and his wife
Jacklin floated scheme of double income in 3 months and other
schemes, collected around Rs.28,67,500/(Rupees Twenty Eight Lakh
Sixty Seven Thousand Five Hundred only) from the first informant
Velankani and other depositors with dishonest intention to cheat them
and also committed fraudulent default in repayment of the deposits.
The applicant is falsely implicated in this case. He is in
custody for more than 3 months. The first informant Velankani filed no
objection to grant bail to the applicant during hearing of his bail
application before Metropolitan Magistrate, 24 th Court, Borivali. Wife of
the applicant is granted protection from arrest vide order dated
15.11.2021. Chargesheet bearing CC no.381/PW/2021 is filed against
the applicant before Metropolitan Magistrate, 24th Court, Borivali.
The first informant used to work as an agent of the
applicant for all the investment schemes. It was the duty of the first
informant to repay the depositors. Upon her failure to do so, the
applicant started making repayment to the depositors via online
transfers. He has repaid the amounts till July 2021.
The witnesses, whose statements are recorded by police,
have no concern with the case. The applicant is ready to make payment
to the depositors by realizing his assets if released on bail. He will
discontinue his investments and policies in order to repay the
3
BA 109-22 in CR 818/21
depositors.
The applicant is permanent resident of Mumbai. He is sole
bread earner of the family consisting of his wife and two daughters. He
has no criminal antecedents. Therefore, the applicant be released on
bail.
3.
The
Investigating
Officer
has
filed
reply
(Exh.02)
contending as under :
The applicant has committed serious economic offence. He
and his wife are not cooperating in the investigation. He is not resident
of Mumbai and also does not have any relative in Mumbai. Therefore,
his bail application be rejected.
4.
I have gone through the application, documents annexed
thereto, reply filed thereto and heard both sides at length. The applicant
is not chargesheeted for an offence punishable with death or life
imprisonment. From the allegations made in the chargesheet, the
applicant floated double income scheme, collected deposits and
committed fraudulent default in repayment to the depositors. In that
context, Ld. Advocate for the applicant has invited my attention to the
fact that the first informant filed an affidavit before Ld. Metropolitan
Magistrate during hearing of the bail application granting no objection
to release the applicant on bail as he agreed to repay the entire amount
within 6 months. Moreover, the applicant has annexed photocopies of
online fund transfers to show that he did intend bona fide to repay the
depositors.
4
5.
BA 109-22 in CR 818/21
In the instant matter, chargesheet is filed against the
applicant on 22.12.2021. It is true that said chargesheet should have
been filed before this Court being the Designated Court to take
cognizance of the offence without the accused being committed to it for
trial in view of Section 13 of MPID Act but the police chose to file the
chargesheet before Ld. Metropolitan Magistrate and the same is not yet
committed to this Court. Be that as it may, investigation against the
applicant is completed and trial of the case has not yet commenced and
it is likely to take long time. Considering, all the aforesaid factors, the
applicant is entitled for bail by imposing stringent conditions. Hence,
Order :
ORDER
1. Bail Application No. 109 of 2022 is allowed and disposed off.
2. The applicant / accused James John Kuttan is hereby released on
bail in CC no. 3481/PW/2021 before Metropolitan Magistrate,
24th Court, Borivali on his furnishing PR and one or more sureties
of Rs.50,000/(Rupees Fifty Thousand only).
3. The applicant shall not commit an offence similar to the offence
of which he is accused.
4. The applicant shall not directly or indirectly make any
inducement, threat or promise to any person acquainted with the
facts of the case so as to dissuade him from disclosing such facts
to the Court or to any police officer or tamper with the
prosecution evidence.
5. The applicant shall surrender his passport to the Investigating
Officer forthwith.
6. The applicant shall not leave India without previous permission
of the Court.
7. The applicant shall attend the Court dates regularly.
5
BA 109-22 in CR 818/21
8. The applicant shall provide list of his movable and immovable
properties, if any, which can be realized for repayment to the
depositors to the Investigating Officer within 7 days from the date
of his release from jail and shall cooperate the Investigating
Agency and Competent Authority in attachment of properties for
repayment to the depositors.
Date : 21.01.2022
Dictated on dias computer : 21.01.2022
Signed on
: 21.01.2022
( C. V. Marathe )
Addl. Sessions Judge,
City Civil & Sessions Court,
Mumbai.
6
BA 109-22 in CR 818/21
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT /ORDER”
On 21.01.2022 at 2.45 p.m.
UPLOADED DATE AND TIME
Mrs. G. P. Acharekar
NAME OF STENOGRAPHER
Name of the Judge (with Court Room no.)
H.H.J. C. V. Marathe
C.R. No.07
Date of Pronouncement of Judgment/Order
21.01.2022
Judgment /Order signed by P.O. on
21.01.2022
Judgment/Order uploaded on
21.01.2022