Cri. Bail Appln. No.1309 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.1309 of 2022
CNR NO.MHNS010055202022
Shashikant Narhari Belekar
Age : 52 years, Occu.: Agriculturist
R/o : Asvali­Gonde, 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
for the Complainant/Bank and the I.O. Perused the police­papers produced
for inspection by the I.O.

Cri. Bail Appln. No.1309 of 2022 (Or Exh.1)
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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 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 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
case is there. Custodial interrogation is necessary. Therefore, prayed to
reject the application.

Cri. Bail Appln. No.1309 of 2022 (Or Exh.1)
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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. Applicant, accused No.5 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.
Therefore, this Court finds that, there is a prima­facie 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 modus­operandi 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. 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.1309 of 2022 stands rejected.

2.

Inform the said order to the I.O.
MUSHTAQUE
HUSSAIN
SHAIKH
Place : Nashik.
Date : 09/12/2022
Digitally signed by
MUSHTAQUE
HUSSAIN SHAIKH
Date: 2022.12.12
12:14:39 +0530
(M. H. Shaikh)
Additional Sessions Judge, Nashik.