Mumbai, Maharashtra – May 12, 2022 – Dnyaneshwar Vitthal Goriwale, accused in a case registered under the Maharashtra Protection of Interest of Depositors (MPID) Act, has been granted bail by the Designated Court under the MPID Act at the City Civil and Sessions Court, Mumbai. The court, presided over by Judge Shri C.V. Marathe, granted bail, citing parity with the prime suspect who had already been released and the lack of necessity for Goriwale’s custodial interrogation.

Goriwale, a 55-year-old resident of Thane, was arrested in connection with C.R. No. 9 of 2022, registered with the Economic Offences Wing (EOW), Unit VII, Mumbai. The prosecution accused him of assisting the prime suspect, Jay Gajjar, in transferring shares from one account to another.

Background of the Case:

The FIR alleged that Goriwale, as an employee of Jay Gajjar, played a role in the transfer of shares, which formed a part of the alleged offenses under the MPID Act. The investigation into the case was ongoing, and Goriwale was subsequently placed under judicial custody by the Learned Metropolitan Magistrate.

Applicant’s Arguments for Bail:

Vikee V. Yelve, the advocate representing Goriwale, argued that his client was falsely implicated in the case. He emphasized that Goriwale’s presence was not required for further investigation, that he had no prior criminal record, and that he was a permanent resident of Mumbai. Yelve also highlighted that the prime suspect, Jay Gajjar, had already been granted bail by the same court on April 29, 2022, and sought bail for Goriwale on grounds of parity.

Prosecution’s Objections:

Mrs. Tendulkar, the Special Public Prosecutor (SPP) representing the State, opposed the bail application. She argued that the offense was serious, the investigation was still ongoing, and therefore, Goriwale’s bail should be rejected.

Court’s Observations and Decision:

Judge Marathe, after reviewing the bail application and the prosecution’s reply, noted that Goriwale, as per the FIR, had assisted Jay Gajjar in transferring shares. The court also acknowledged that Jay Gajjar, the prime suspect, had already been granted bail on April 29, 2022.

The court further observed that the Learned Metropolitan Magistrate’s decision to grant judicial custody to Goriwale indicated that his custodial interrogation was not deemed necessary for the investigation. This factor played a crucial role in the court’s decision to grant bail, as it suggested that the investigating agency did not require his physical presence for further inquiries.

Considering these factors, the court concluded that Goriwale could be released on bail, subject to certain conditions.

Bail Conditions:

The court granted bail to Goriwale, subject to the following conditions:

• Goriwale must furnish a Personal Recognizance (P.R.) bond of Rs. 1,00,000/- (Rupees One Lakh only) and provide one or more sureties of the same amount.
• He must surrender his passport to the investigating officer within one week of his release.
• He must cooperate with the investigating authority and must not tamper with evidence or influence witnesses.
• He must not leave India without prior permission from the court.

Outcome:

The court’s decision highlights the principle of parity in bail matters, where similarly situated accused persons are treated equally. The court’s emphasis on the lack of necessity for custodial interrogation also reflects a judicial approach that prioritizes personal liberty while ensuring the integrity of the investigation. The imposed conditions aim to ensure Goriwale’s cooperation with the ongoing investigation and prevent any potential obstruction of justice. This case underscores the complexities involved in MPID Act cases and the court’s commitment to balancing the rights of the accused with the interests of justice.