Cri. Bail Appln. NO.1297 of 2022 (Or Exh.1)
1
IN THE COURT OF ADDITIONAL SESSIONS JUDGE, NASHIK,
AT – NASHIK.
(Presided over by Mr. M. H. Shaikh)
Criminal Bail Application No.1297 of 2022
CNR NO.MHNS010054422022
Nilesh Vikas Vispute
Age : 38 years, Occu.: Agriculturist
R/o : Wadivahre, Tal. Igatpuri,
Dist. Nashik.

… Applicant/Accused.

V/S
State of Maharashtra
Through – Wadivarhe Police Station
(C. R. No.I­154 of 2022)
… Respondent/State.

Appearance :
Ld. Adv. Shri. Sujit R. Borade for Applicant/Accused.
Ld. A.P.P. Smt. B. N. Petkar for Respondent/State.
Ld. Adv. Shri. Arvind B. Badvar for Complainant.
Shri. R. D. Ahire, P.S.I., Wadivarhe Police Station.
ORDER BELOW EXH. NO.1
(Delivered on 09th December, 2022)
1.

This is an application filed under Section 438 of Criminal
Procedure Code for grant of pre­arrest bail in connection with C.R. No.154
of 2022 registered Respondent/Wadivarhe Police Station under Sections
406, 420, 467, 468, 504 and 506 r/w 34 of the Indian Penal Code.
2.

Read the application and the say filed by the respondent.

Heard Ld. Advocate for applicant, Ld. A.P.P. for the State, Ld. Advocate
Cri. Bail Appln. NO.1297 of 2022 (Or Exh.1)
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for the Complainant/Bank and the I.O. Perused the police­papers produced
for inspection by the I.O.
3.

It is alleged by the prosecution that, the accused Nos.1 to 11
applied for Gold loan. The complainant/Bank was having applicant,
accused Nos.5, 12 and 14 as the Bank valuers and they had certified the
purity of the mortgaged Gold ornaments and therefore Bank sanctioned the
loan. Thereafter, it revealed to the Bank that the mortgaged Gold ornaments
are fake and therefore an inquiry was conducted and thereafter a written
complaint was filed to the Police. Police did not take cognizance.
Therefore, a private complaint was filed before the Ld. J.M.F.C., Igatpuri,
who gave a direction under Section 156 (3) of Cr.P.C.
4.

It is the case of the applicant that, he is falsely implicated.

Nothing is to be recovered or discovered at his instance. Custodial
interrogation of the applicant is not necessary. Ready to abide by the terms
and conditions likely to be impose by the Court. Therefore, prayed to allow
the application.
5.

The respondent objected on the ground that, investigation is at
a primary stage. All accused in collusion with each other had cheated the
complainant/Bank to the tune of more than Rs.80,00,000/­. The said amount
belongs to the public. Investigation is in progress. Custodial interrogation of
applicant is necessary. Therefore, prayed to reject the application.
6.

Complainant/Bank intervened in this matter and filed their
objection and objected on the ground that, there was a collusion in between
the applicant and other accused persons and they by mortgaging fake Gold
ornaments got sanctioned the loan and did not repay the same. Prima­facie
Cri. Bail Appln. NO.1297 of 2022 (Or Exh.1)
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case is there. Custodial interrogation is necessary. Therefore, prayed to
reject the application.
7.

Upon hearing and going through the material placed on
record, what can be gathered is that, accused Nos.1 to 11 had applied for
Gold loan by mortgaging the Gold ornaments. Accused No.5, 12 and 14
valued the Gold ornaments and certified to be pure. Thereafter, the new
Manager of the complainant/Bank got suspicion about the Gold ornaments.
Therefore, a verification was conducted by the third valuer, who opined that
the Gold ornaments mortgaged with the Bank is fake.
8.

In the above back­drop, if we consider the case in hand, one
will find that, the applicant certified the Gold ornaments of accused No.1 to
11, which were mortgaged with the complainant/Bank to be pure. The
sacntioned loan amount was credited to the account of the applicant and he
did not repay the same. Therefore, this Court finds that, there is a prima­
facie case. The applicant alongwith other accused persons have cheated the
Bank to the tune of more than Rs.80,00,000/­, which is the public money. A
through investigation is required in this matter. There might be a racket
involved in the said crime. Moreover, it is an economic crime affecting the
Nation at large. Therefore, this Court finds that, there is a prima­facie case
and custodial interrogation of the applicant is necessary to know the modus­
operandi and whether besides the applicant and accused persons named in
the F.I.R., is there an involvement of Bank officials and employees in it. As
far as, the argument that accused No.13 again certified the Gold ornaments
to be pure is concerned, this Court finds that, he is also made an accused in
this matter. Moreover, there is a case pending of similar nature against the
applicant and it is evident from the police­papers produced on record.

Cri. Bail Appln. NO.1297 of 2022 (Or Exh.1)
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Therefore, this Court finds that, it is not inclined to grant pre­arrest bail to
the applicant. In the result, the application fails. Hence, the order.
ORDER
1.

Criminal Bail Application No.1297 of 2022 stands rejected.

2.

Inform the said order to the I.O.

Place : Nashik.
Date : 09/12/2022
MUSHTAQUE
HUSSAIN
SHAIKH
Digitally signed by
MUSHTAQUE
HUSSAIN SHAIKH
Date: 2022.12.12
12:13:56 +0530
(M. H. Shaikh)
Additional Sessions Judge, Nashik.