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Order on BA 150/24 in CR No.941/23
MHCC020030102024
BEFORE THE DESIGNATED COURT UNDER M.P.I.D. ACT
CITY CIVIL & SESSIONS COURT, MUMBAI
ORDER ON BAIL APPLICATION NO.150 OF 2024
IN
C. R. NO.941 OF 2023
Kunal Praful Indulkar
Aged : 37 years,
Residing at Flat No.201,
2nd Floor, Shree Chamundakrupa CHSL,
Taikalwadi, M. N. Marg, Mahim, Mumbai-400016.

]
]
]
] Applicant/
]… Accused
Versus
The State of Maharashtra
(Through Dahisar Police Station)
]
]… Respondent
Appearances:Ld. Advocate Tiwari h/f Ld. Advocate A. M. Saraogi for the Applicant.
Ld. SPP Seema Deshpande for the State/ Respondent.
Ld. Advocate Rahul R. Mishra for Intervenor – Vineet Balkrishna Surve.
CORAM : HER HONOUR JUDGE
ADITEE UDAY KADAM,
(Court Room no. 7)
DATE : 20th April, 2024.
ORAL ORDER
1.

The present application is moved by the Applicant/Accused
Kunal Praful Indulkar resident of Mahim, Mumbai, under Section
439 of The Code of Criminal Procedure, 1973 for grant of regular
bail.

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2.

Order on BA 150/24 in CR No.941/23
A case being C.R. No.941 of 2023 is registered with Dahisar
Police Station against the present Applicant for the offences
punishable under Sections 406, 420, 465, 468, 469, 471 r/w
Section 34 of the Indian Penal Code, 1860 (hereinafter referred
as “IPC”) as well as Sections 3 and 4 of The Maharashtra
Protection of Interest of Depositors Act, 1999 (hereinafter
referred to as “M.P.I.D. Act”).

3.

Application is resisted by the Prosecution by filing say at
Exhibit No.2. The intervention by the intervenor –
Vineet B.

Surve is allowed vide order dated 23.02.2024.
4.

Prosecution case in nutshell is as under :Informant is in the business of money lending. Applicant and
other accused induced him to invest substantial amount in the
firm of applicant. Applicant also induced him to invest in
different Companies in order to get good returns. Accordingly,
informant has invested amount of Rs.1,53,70,000/- (Rupees One
Crore Fifty Three Lakhs Seventy Thousand only). During the
course of transaction, informant came to know that, accused i.e.
applicant and his parents have deceived him by showing false and
fabricated documents. Hence, he has lodged report against them
on 18.10.2023.

5.

Heard the Ld. Advocate for the Applicant, Ld. SPP for the
Prosecution, Investigating Officer and Ld. Advocate for the
Intervenor.

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6.

Order on BA 150/24 in CR No.941/23
Ld. Advocate for the applicant submitted that as per the say
of police itself amount of Rs.1,50,16,300/- (Rupees One Crore
Fifty Lakhs Sixteen Thousand Three Hundred only) is returned to
the account of informant. He has filed a pursis at Exhibit No.05
that, he is ready to deposit a sum of Rs.3,00,000/- in the account
of informant. Therefore, applicant is not required to keep behind
bar. He be released on bail.

7.

Intervenor has filed pursis at Exhibit No.10 that, as per
pursis (Exhibit 5) filed by the applicant, he has to deposit the
amount of Rs.3 Lakhs to the account of informant.

8.

On perusal of record it reveals that, the informant is the only
investor. His invested amount is secured. Other investigation is
based on documentary evidence. Law is settled that for the
investigation which is based on documentary evidence, physical
custody is not necessary. Applicant came to be arrested on
30.01.2024. Furthermore, it is brought to the notice of Court that
charge-sheet against the applicant is filed and thereby,
investigation is complete. Thus, no purpose would be served by
languishing the applicant behind bar.

9.

It is further submitted by the Ld. Advocate for the applicant
that the applicant has no criminal antecedents. He is ready to
abide any condition on grant of bail. Considering all these aspects
this Court is of the view that the application filed by the
applicants is to be allowed with certain conditions. Hence, the
following order :-
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Order on BA 150/24 in CR No.941/23
ORDER
1. The present Bail Application No.150 of 2024 is hereby allowed
and disposed of.

2. The applicant Kunal Praful Indulkar is hereby released on bail in
connection with C.R. No.941 of 2023 is registered with Dahisar
Police Station against the present Applicant for the offences
punishable under Sections 406, 420, 465, 468, 469, 471 r/w
Section 34 of the Indian Penal Code, 1860 as well as Sections 3
and 4 of The Maharashtra Protection of Interest of Depositors Act,
1999 on furnishing PR bond of Rs. 1,00,000/- (Rupees One Lakh
only) with one or more sureties in the like amount.

3. The Applicant is permitted to furnish provisional cash bail of Rs.

1,00,000/- (Rupees One Lakh only) for a period of three months.

4. The applicant shall surrender his passport before the investigating
officer within a period of one week of his release.

5. That the applicant shall make himself available for interrogation
by the Investigating Officer as and when required, under written
intimation.

6. The applicant shall not leave India without prior permission of
this Court.

7. The Applicant shall not alienate any movable and immovable
property in his name or in the name of his wife/children if any,
without permission of this Court.

8. The Applicant shall not tamper with the prosecution evidence or
pressurize the prosecution witnesses in any manner till the
conclusion of trial.

9. The Applicant shall furnish his contact number and residential
address to the Investigating Officer and shall keep him updated,
in case there is any change.

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Order on BA 150/24 in CR No.941/23
10. The Applicant shall attend the dates of trial regularly.

(Dictated and pronounced in the open Court.)

Date: 20/04/2024
Mumbai
(ADITEE UDAY KADAM)
Designated Judge under
The Maharashtra Protection of
Interest of Depositors Act, 1999,
for Gr. Bombay
Dictated directly on computer: 20/04/2024
Signed by HHJ on
: 22/04/2024
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT/ORDER”
22.04.2024 at 4.45 -p.m.
UPLOAD DATE AND TIME
Name of the Judge (with Court
Room No.)

Ms. R.D.Tari
NAME OF STENOGRAPHER
HHJ SHRI.U.C.Deshmukh,(C.R.No.59)
Judge.,City Civil & Sessions Court,
Date of pronouncement of /Order 20.04.2023
Order signed by P.O. on
22.04.2023
order uploaded on
22.04.2023
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Order on BA 150/24 in CR No.941/23