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IN THE COURT OF SESSIONS FOR GREATER MUMBAI AT MUMBAI
CRIMINAL BAIL APPLICATION NO. 1703 OF 2022
CNR NO. MHCC02­009271­2022
Mitul Niranjan Shah
Age : 39 years, Occ.: Business
R/at : 16th Sheela Apartment,
Opp. Bhulabhai Desai Road, Cumballa Hill,
Mumbai ­ 400 028.

.Applicant/Accused
Vs.
The State of Maharashtra
(Through L. T. Marg police station)
.Respondent/State
Appearances :­
Mr. Shirish Shigwan, Ld. Advocates for applicant/accused.
Ms. Ratnavali Patil, Ld. APP for the Respondent/State.
CORAM : H. H. THE ADDL. SESSIONS JUDGE,
SHRI A.A. KULKARNI (C.R. NO.24)
DATED : 01st OCTOBER, 2022
(ORAL ORDER)
(Dictated and pronounced in the open Court)
This is an application for bail under Section 439 of Cr. P.C.
Heard Ld. Advocate for the applicant and Ld. APP for the State. Perused
documents on record.
2.

The Ld. Advocate for applicant submitted that applicant is
arrested by police in connection with C.R. No. 28/2022 registered by L.
T. Marg police station, for the offence punishable under Sections 406,
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420, 465, 467, 471 r/w. 34 of IPC. He further submitted that as per
allegations of informant applicant received amount of Rs.2,11,70,000/­
by representing that he has applied for license of Non Banking Finance
Company from Reserve Bank of India and after receiving license he will
pay Rs.6,00,00,000/­ against amount of Rs.2,11,70,000/­. Informant
further alleged that by believing presentation of accused/ applicant, he
paid amount of Rs.1,27,00,000/­ from his account, Rs. 48,50,000/­
from his mother’s account and amount of Rs.35,00,000/­ from his wife
and Rs.1,20,000/­ account of sister. For the purpose of gaining trust of
informant, applicant stated that he is going to receive amount of
Rs.10,38,40,000/­ from Reserve Bank of India and shown copy of letter
dated 07/09/2018. Applicant further shown him one pay order of
Standard Chartered Bank of Rs.6,00,00,000/­ . Applicant issued cheque
worth Rs.6 crore to informant, cheque of Rs.75 lacs in the name of his
wife and Rs.2 Lac 50 thousand in favour of sister of informant. All the
cheques issued by applicant were dishonoured, hence, informant came
to know that he has cheated by applicant. Ld advocate for applicant
submitted that in view of allegation and material collected during
investigation,
it
revealed
that
informant
received
amount
of
Rs.7,11,000/­ from applicant. There was transaction between informant
and applicant. There are not ingredient to offence of cheating from the
material collected during investigation. It is his further contention that
witnesses examined by prosecution and also
not supported case of
prosecution. Applicant is in judicial custody since 19/03/2022.
Applicant is resident of Mumbai. He is ready to abide conditions
imposed by this court. Hence, prayed for grant of bail.
3.

Ld. APP and investigating officer opposed application. It is
their contention that if the applicant is allowed, there is possibility of
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absconding of applicant. Another accused involved in this case is yet to
be arrested. if applicant is released on bail, he may tamper witnesses of
prosecution and prayed for rejection of application. Informant appeared
and he also opposed application.
4.

In view of submissions, heard both sides and perusal of
record it reveals that investigation to the extent of present applicant is
completed and charge sheet is filed against present applicant before the
court by Ld. Metropolitan Magistrate, Mumbai. As per case of
prosecution, applicant given information to informant that he is going
to receive license of Non Banking Finance Company from Reserve Bank
of India and for that purpose he was required amount and on believing
words
of
applicant,
informant
invested
huge
amount
of
Rs.2,11,70,000/­ . In view of such case there is nothing on record that
applicant has applied for license of M3 Securities with Reserve Bank of
India for licence of Non­Banking Company. Nothing is seized at the
instance of applicant about showing forged documents of deposits, pay
order and letter of Reserve Bank of India as per case of prosecution. In
view of material on record I am of the opinion that prima facie it
appears that it is case of money lending and with help of police
applicant is trying to recover his amount. Though it is case of informant
that applicant issued him cheques and those were dishounoured, no
case is filed by him against applicant before appropriate court nor any
recovery proceeding is filed before appropriate court. Therefore this
case is out of money lending transaction. Applicant is resident of
Mumbai and ready to abide condition. Charge sheet is already filed on
record. Hence, in such circumstances I am of the opinion that by
imposing condition to appear before Ld. Trial Court for trail applicant
may release on bail. Hence, I passed the following order :­
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ORDER
1.

Criminal Bail Application No. 1703 of 2022 is allowed.

2.

Applicant/accused Mitul Niranjan Shah be released on bail on
furnishing P.R. Bond of Rs.10,00,000/­ along with one or more
sureties in like amount in connection with C.R. No.28/2022
registered with L. T. Marg police station.

3.

Applicant/accused shall attend L. T. Marg police station on notice
by Investigating Officer.

4.

Applicant/accused shall furnish his residential address proof and
contact numbers to Investigating Officer.

5.

Applicant/accused 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.

6.

Applicant/accused shall not leave India without previous
permission of the Court.

7.

Bail before Ld. Court below.

8.

Criminal Bail Application No. 1703 of 2022 stands disposed of
accordingly.

Date : 01.10.2022
Dictated on
: 01.10.2022
Transcribed on : 01.10.2022
HHJ signed on : 01.10.2022
[A.A. KULKARNI]
ADDITIONAL SESSIONS JUDGE
GREATER MUMBAI
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER.”
Upload Date
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JUDGMENT /ORDER
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