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B.A. 429/24
MHCC020029112024
IN THE COURT OF SESSION FOR GREATER BOMBAY
CRIMINAL BAIL APPLICATION No.429 OF 2024
Rajesh Vishwanatha Shetty
Age 52 years, Occ : Business,
Residing at R.No.307,
Anegundi 1st Cross Kapikad Road,
Bijal Dakshina Kannada, Karnataka
… Applicant
– Versus The State of Maharashtra
(At the instance of DCB CID, Unit-XI,
Mumbai, vide CR. No.10/2024)
(Corresponding C.R.No.51/2024,
Andheri Police Station)
… Respondent
Appearance :Adv. Ajay Dube for the applicant.
APP Iqbal Solkar for the respondent / State
CORAM : RAJESH A. SASNE
ADDITIONAL SESSIONS JUDGE,
COURT ROOM No. 30.
DATED : 23/02/2024
ORDER
This is bail application by the accused u/sec.439 of The
Criminal Procedure Code for releasing him on bail in connection with
C.R.No.10/2024
registered
with
DCB
CID,
Unit-XI,
Mumbai
(Corresponding C.R.No.51/2024, Andheri Police Station) for the
commission of offences punishable u/sec.420, 465, 467, 468, 471, 472,
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B.A. 429/24
34 of the Indian Penal Code.
2.

It is alleged by the applicant / accused that he is innocent
and falsely implicated in the present case. The accused is arrested on
30.01.2024.

He
has
undergone
custodial
interrogation.

The
investigation is completed. The applicant / accused is the only earning
member in the family. There is no criminal antecedents against him.
Therefore, there is no point in keeping accused behind bars till
conclusion of trial. He is the permanent resident of his given address
therefore he prayed for releasing him on bail.
3.

The prosecution opposed the application by filing reply
vide Exh.2. It is the contention of the prosecution that if accused is
released on bail there are chances of flee from justice. If accused is
released on bail there are chances of threatening of prosecution
witnesses and tampering of prosecution evidence. Hence, prosecution
prayed for rejection of the application.
4.

Read the application, say filed by the prosecution. Heard
the ld. Advocate for the applicant, ld. APP for the respondent / State.
5.

It is the case of the prosecution that the applicant was
representing that one Shashikiran T.R. has received Rs.100 crores and
for that purpose to release the said amount he requires to pay the taxes
and to pay some amount to the officers of RBI and accordingly, he is in
need of Rs.20 lakhs. The applicant is an agent cum mediator in the
transaction who informed this fact to the informant and induced the
informant to invest lakhs of rupees and offered him the good returns
thereon. The investors were induced to pay Rs.20 lakhs and get returns
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B.A. 429/24
of Rs.100 crores. The police on the basis of this information arrested the
applicant and other accused. From the possession of the applicant /
accused certain documents of Zink Metal Corporation agreement,
report, testing reports, Certificate of RBI, Cheque book, pass book were
recovered. According to the prosecution the reports, agreements are
forged documents. Said Shashikiran T.R. is also arrested. The present
applicant has been arrested on 30.01.2024. There is forgery and
falsification of documents. It is alleged that the accused by inducing the
persons to invest the amount, offered them good returns and thereby
cheated them. The investigation in the offence is in progress. The
applicant / accused is resident of Karnataka, if he is released on bail at
this stage, it will hamper the investigation. There are chances that the
applicant / accused will flee away from the justice. There is fabrication
of government documents and certificates which required to be
investigated in detail. As aforesaid investigation is in progress therefore,
the applicant is not entitled for the bail at this stage. Hence, I pass the
following order :
ORDER
Criminal Bail Application No.429 of 2024 is rejected and disposed off
accordingly.

Date : 23/02/2024
Dictated on
: 23.02.2024
Transcribed on
: 26.02.2024
Signed by HHJ on : 28.02.2024
( RAJESH A. SASNE )
Additional Sessions Judge,
Gr. Mumbai.

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B.A. 429/24
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
ORDER.”
29/02/2024
3.57 p.m.

UPLOAD DATE
TIME
J.S. Chavan
NAME OF STENOGRAPHER
Name of the Judge (With Court H. H. Additional Sessions Judge Shri. R.A.
Room No.)
Sasne, Court Room No. 30.
Date of Pronouncement of ORDER 23/02/2024
ORDER signed by P.O. on
28/02/2024
ORDER uploaded on
29/02/2024