:1:
Order in BA no. 316/23
MHCC020058012023
BEFORE THE DESIGNATED COURT UNDER M.P.I.D. ACT
CITY CIVIL & SESSIONS COURT, MUMBAI
BAIL APPLICATION NO. 316 OF 2023
Rahul Harishankar Tiwari
Adult, Occ : Business
Residing at Shivneri Rahivashi Sangh, Vrindawan
Nagar, Kandivali (West), Mumbai.
(At now detained in Taloja Jail, Mumbai)
]
]
]
] Applicant/
]… Accused
Versus
The State of Maharashtra
(Through Bhoiwada Police Station)
]
]… Respondent
Appearances:­
Ld. Advocate Aditya Mukherjee for the Applicant.
Ld. SPP V. C. Malankar for the State/ Respondent.
CORAM : HIS HONOUR JUDGE
SHRI S. M. TAPKIRE
(Court Room no. 7)
DATED : 2nd May, 2023.
ORAL ORDER
1. This is an application under Section 439 of The Code of Criminal
Procedure, 1973 to have liberty to applicant / accused in
connection with the crime vide C.R. No.339 of 2022 registered
with Bhoiwada Police Station for the offences punishable under
Sections 419, 420 r/w 34 of Indian Penal Code, 1860(hereinafter
referred as “IPC”) and Section 3 of The Maharashtra Protection of
Interest of Depositors Act, 1999 (hereinafter referred as “MPID
:2:
Order in BA no. 316/23
Act”).
2. The Respondent/State has strongly opposed the bail plea of
applicant by submitting their written say / objection below
Exh.02.
3. Perused the application, plea grievance submissions grounds
raised therein coupled documents placed reliance by the
applicant. Also, perused the written say of Respondent/State
coupled with material placed reliance by them. Heard Ld.
Advocates for the rival parties.
4. Having into consideration, the rival submissions, contentions and
availed record it inclined in impugned crime in all six (6) accused
are implicated by alleging against them by the informant Smt.
Charulata
Shrikant
Joshi
that
the
person
namely
Sunil
Vishwanath Yevla has given information about the Rajkumar
Manohar Singh by stating that he has having proper knowledge
in share market trading and he is also having the Financial
Establishment M/s. Trade Money Company. The said Company
has formulated the investment scheme wherein provided 40%
return amount within five months from the date of investment.
Thereby, she has contacted to him. Further as per assurance and
promise given by accused no.1 Sunil Yevla to her, she has initially
invested in all Rs.7 Lakhs in the scheme formulated by the
accused. In lieu of that the agreement was provided and also
given post dated cheque to her. Thereupon she has availed
certain benefit amounts of her investment. Due to that she again
deposited her money in said firm in all Rs.16 Lakhs by cheque
:3:
Order in BA no. 316/23
and RTGS transaction. During the period of June 2020 to
September 2020, the accused no.3 Rajkumar Singh has disbursed
the return amount to her Rs.9,19,000/­ (Rupees Nine Lakhs
Nineteen Thousand only) but later on stopped to give return
amount. Thereafter, though Rajkumar Singh assured to return the
principal and interest amount. However, failed to comply the
transaction of investment. Even thereafter, though she contacted
to other accused in view of get availed her investment sum.
Therefore, as she has inclined she is induced by lured, deceived,
cheated her huge amount is misappropriated by the accused.
Thereby, raised the impugned crime.
5. The applicant with regard to the plea, grievances, accusation
raised against him come with the case that he was just an
employee of the alleged Financial Establishment of accused no.3
Rajkumar Singh. He was neither Director nor partner or even was
not having any concern with business activities transaction of said
Financial Establishment of M/s. Trade Money Company. In fact
the informant has raised the substantial material, allegations,
grievances against the accused no.3 Rajkumar Singh and accused
no.1 Sunil Yevla. Against the applicant merely raised plea that
once upon when she visited to the office of the said Company,
applicant was working there. At that time the applicant and
accused no.5 Utsav Sawant assured to her to avail her investment
and return amount except that nothing serious raised against
him. Furthermore, the alleged main accused no.3 Rajkumar Singh
is died. As well as accused no.4 Komal Mehta has availed
protection of pre­arrest bail from Hon’ble High Court in
:4:
Order in BA no. 316/23
Anticipatory Bail Application No.349 of 2023 order dated
20.02.2023. At now the applicant alone is arrested on
29.03.2023. Other two accused are yet to be detected and
arrested. The plea, allegations leveled against him is already
investigated
exhaustively,
properly.

Therefore,
his
further
custodial detention is not necessary for any purpose. He also
raised general grounds.
6. The Respondent/State has strongly opposed to the bail plea of
applicant by raising plea, grievances, objection that the accused
no.1 to 5 and Financial Establishment M/s. Trade Money
Company has get availed huge of the deposits amount in all
Rs.69,24,000/­ (Rupees Sixty Nine Lakhs Twenty Four Thousand
only) through the bank transaction from heap of the depositors.
However, later on resiled from their promise, assurance to give
the return amount as 40% within five months on invested sum.
All the accused by conspired, instigated, lured, induced, duped
and cheated to the various depositors with intention to grab their
deposit amount. Other concern accused are yet to be detected
and arrested. The main accused Rajkumar Singh is died at Indore,
Madhya Pradesh. The another accused Sunil Yevla yet to be
detected and arrested. In such eventualities as the investigation is
not completed. Thereby, would not appropriate to have liberty to
him. They also raised general objections.
7. In above such circumstances cautiously having into consideration,
rival submissions, contentions and availed record prima facie
revealed the impugned crime raised against in all six (6) accused.

:5:
Order in BA no. 316/23
The alleged main accused master mind, author of the crime
accused no.3 Rajkumar singh is died at Indore, Madhya Pradesh.
The accused no.4 Smt. Komal Mehta has availed the protection of
pre­arrest bail from Hon’ble High Court Bombay in Anticipatory
Bail Application No.349 of 2023 order dated 20.02.2023. Other
two accused Sunil Yevla are yet to be detected and arrested.
Against the applicant just and merely raised plea, allegations that
he was one of the employee of M/s. Trade Money Company and
was appeared in the office of the said Company when the
informant has visited to said office and assured to return back her
principal and return amount. Except that no any seriously
considerable plea, grievances raised against him. The applicant is
arrested on 29.03.2023. In view of plea, allegations raised against
him certainly would clarify that the relevant material, facts and
circumstances are investigated. Thus, in the circumstances I have
not inclined any seriously, considerable, cognizable reason, cause,
ground for further custodial detention of applicant. However, in
view of raised allegations, seriousness gravity of crime and
requirement of further investigation. I felt by saddling stringent
conditions would appropriate to have liberty to applicant. Hence,
I am inclined to have liberty to applicant subject to following
conditions. With this passed the following order :­
ORDER
1. The present Bail Application No.316 of 2023 is hereby allowed,
subject to following conditions by applicant /accused:­
i. The applicant Rahul Harishankar Tiwari residing at Shivneri
Rahivashi Sangh, Vrindawan Nagar, Kandivali (West),
Mumbai currently detained in Taloja Jail be released on
:6:
Order in BA no. 316/23
executing a PR Bond of Rs. 1,00,000/­ (Rupees One Lakhs
Only) with furnishing one or two solvent sureties in the like
amount in crime vide C.R. No.339 of 2022 registered with
Bhoiwada Police Station for the offences punishable under
Sections 419, 420 r/w 34 of Indian Penal Code, 1860 and
Section 3 of The Maharashtra Protection of Interest of
Depositors Act, 1999.
ii. The applicant shall not tamper or hamper the prosecution
witnesses and evidence as well as pressurize to any of the
prosecution witness by any manner.
iii. The
applicant shall record his attendance with
Respondent/I.O. on every Tuesday between 11.00 a.m. to
05.00 p.m. until filing of charge­sheet.

iv. The applicant shall co­operate in investigation, as and
whenever he required for interrogation, he shall avail for the
same.
v. The applicant shall not leave India without prior permission of
Court.
vi. The applicant shall submit his proper considerable residential
address proof as well as telephone and cell numbers with
Respondent/I.O. in view of his contact.
vii. The applicant shall submit his passport with respondent /I.O.

if any availed with him.
viii. The applicant shall not indulge in any criminal activity.
ix. In case of disobedience or breach of any saddled condition by
applicant, this order will liable to be canceled.
3.

Accordingly, Respondent/I.O. to take the note of this order.

4.

The present Bail Application No. 316 of 2023 stands disposed of
accordingly.

:7:
Order in BA no. 316/23
(Dictated and pronounced in the open Court.)
Digitally signed
by SHRIRAM
MADHUKAR
TAPKIRE
Date:
2023.05.09
11:51:58
+0530
Date : 02.05.2023
Dictated on
: 02.05.2023.
Transcribed on : 06.05.2023.
Signed on
: 08.05.2023.

( S. M. Tapkire)
Designated Judge and Addl.
Sessions Judge, City Civil &
Sessions Court, Mumbai.

:8:
Order in BA no. 316/23
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT /ORDER”
On 09.05.2023 at 11.43 a.m.
UPLOADED DATE AND TIME
Mrs. G. P. Acharekar
NAME OF STENOGRAPHER
Name of the Judge (with Court Room no.)

H.H.J. S. M. Tapkire
C.R. No.07
Date of Pronouncement of Judgment/Order
02.05.2023
Judgment /Order signed by P.O. on
08.05.2023
Judgment/Order uploaded on
09.05.2023