Mumbai, March 7, 2024 — In a significant development, the Sessions Court of Greater Bombay has granted bail to Mukul Asharam Singh, a 20-year-old student from Gwalior, Madhya Pradesh, who was arrested in connection with a cyber fraud case involving the unauthorized transfer of Rs. 90,00,001 from a victim’s bank account.

Case Background

Singh was arrested on January 7, 2024, following an investigation into a cybercrime registered at South Region Cyber Police Station, Mumbai, under C.R. No. 30/2023. The case was filed under Sections 419 and 420 of the Indian Penal Code (IPC) and Sections 43 and 66(D) of the Information Technology Act, 2000, which deal with cheating, identity fraud, and misuse of electronic systems.

The prosecution stated that complainant Mahesh Sohanlal Jhawar reported unauthorized access to his internet banking account between September 27 and 29, 2023. His mobile SIM card was allegedly deactivated by fraudsters, enabling them to gain control over his bank account. Subsequently, Rs. 90,00,001 was transferred to an account held by one Vikas Singh. Further investigation revealed that a portion of this sum, Rs. 6,01,000, was transferred to multiple accounts, including that of the accused Mukul Singh. On March 28 and 29, 2023, Singh allegedly withdrew Rs. 5.8 lakh from ATMs in Gwalior.

Arguments in Court

During the bail hearing, Singh’s defense, led by Advocate Shailesh Kharat, argued that he was falsely implicated in the case. The defense claimed that Singh was merely a beneficiary of transferred funds and had no role in the fraudulent transactions. They highlighted that Singh had already been in custody for two months and had no prior criminal record. The defense also emphasized that the police had completed their investigation concerning Singh, and there was no further need to keep him behind bars.

Opposing the bail plea, the prosecution, represented by Additional Public Prosecutor Iqbal Solkar, contended that the accused’s release could hamper evidence collection and pose a risk of witness tampering. They further argued that Singh’s involvement was evident from the bank transactions and that he might attempt to evade justice if granted bail.

Court’s Observations and Ruling

Presiding over the case, Additional Sessions Judge Rajesh A. Sasne noted that the accused had been in custody for nearly two months and that the investigation concerning him appeared to be complete. The court acknowledged that Singh was a beneficiary account holder but ruled that imposing reasonable conditions would suffice to secure his presence during further proceedings.

In light of these observations, the court granted bail with the following conditions:

• Singh must furnish a personal bond and surety of Rs. 25,000.
• He must not tamper with prosecution witnesses or evidence.
• He is required to report to the concerned police station on the first and fourth Saturday of every month between 11:00 AM and 2:00 PM until charges are framed.
• A provisional cash bail of Rs. 25,000 was permitted, with a deadline of four weeks to furnish a surety.
• He cannot leave India without prior court approval.

Implications of the Ruling

The court’s decision provides relief to Singh but does not absolve him of charges. His trial will determine his involvement and possible culpability. The case also underscores the growing concerns over cyber fraud and financial crimes in India, highlighting the necessity for enhanced security measures and vigilance by banking institutions and consumers alike.

The matter is now set to proceed to trial, where the prosecution will present its evidence to establish the extent of Singh’s involvement in the cyber fraud scheme.