Mumbai, India – February 7, 2024 – A Mumbai Sessions Court has granted bail to two senior citizens, a 62-year-old doctor and a 72-year-old consultant, accused of misappropriating Rs. 1.4 crore from a charitable trust. Additional Sessions Judge V.M. Sundale, presiding over Court Room No. 27, granted bail to Dr. Vasant Jivram Majethia and Vikram Lakhani in Criminal Bail Application No. 245 of 2024, citing the lack of recovery during police custody and their willingness to cooperate with the investigation.
Majethia and Lakhani were arrested in connection with Crime No. 739/2023, registered at Mulund Police Station. They face charges of criminal breach of trust and cheating, accused of siphoning funds from the Shri Karachi Kachhi Lohana Narayan Sarvovariya and Lakhpati Mahajan Trust.
Allegations and Arrest:
The prosecution alleges that the two, along with a co-accused who is still at large, forcibly took control of the trust, opened three bank accounts, and leased trust properties at significantly undervalued rates. The total amount allegedly misappropriated is Rs. 1.4 crore.
Both Majethia and Lakhani were arrested on January 16, 2024, and subsequently remanded to police custody before being transferred to judicial custody.
Defense Arguments:
The defense, led by Advocate Vishnu Patil, argued that the accused were senior citizens and had been in custody since their arrest. They emphasized that no recoveries were made during their police custody, indicating their non-involvement in the alleged misappropriation. They also stressed that the accused were local residents, willing to cooperate with the investigation, and had no prior criminal record.
Prosecution Objections:
The prosecution, represented by Additional Public Prosecutor Ratnavali Patil, strongly opposed the bail, citing a previously rejected pre-arrest bail application and expressing concerns about witness tampering, obstruction of the investigation, and the risk of the accused fleeing the country.
Court’s Reasoning and Decision:
Judge Sundale, after reviewing the case records and hearing arguments from both sides, granted bail to Majethia and Lakhani. The court noted that no recoveries were made during police custody, the accused were senior citizens, and they were willing to cooperate with the investigation.
“The presence of the applicants is not necessary for any recovery or discovery. The applicants are local residents and ready to co-operate the investigation. Nothing has been placed on record about past criminal antecedents of the applicants. There are no extra ordinary circumstances to keep the applicants behind bar and complete remaining part of investigation,” Judge Sundale stated in his order.
The court also noted that the prosecution’s apprehensions could be addressed by imposing stringent bail conditions.
Bail Conditions:
The court granted bail to the accused on the following conditions:
- They must each execute a personal recognizance (PR) bond of Rs. 50,000 with one or two sureties of the same amount.
- They and their sureties must provide their mobile numbers, email addresses, and proof of residence.
- They must not directly or indirectly influence, threaten, or pressurize any witnesses.
- They must not leave India without prior permission from the court.
- They must report to Mulund Police Station every Monday until the charge sheet is filed.
- They were granted provisional cash bail and must furnish sureties within four weeks.
- Breach of any condition will result in the cancellation of bail.
- Bail must be furnished before the learned Metropolitan Magistrate Court.
Implications:
The court’s decision highlights the importance of considering factors such as the accused’s age, cooperation, and the lack of recovery during police custody when granting bail. It also demonstrates the court’s willingness to impose conditions to balance the rights of the accused with the needs of the investigation. This case showcases that even with serious financial crime allegations, if the court finds no flight risk, and cooperation, that bail can be granted.