Mumbai, April 15, 2024 – Mukhtar Moinuddin Kondkar, 44, has been denied bail by the Sessions Court for Greater Bombay in connection with a fraud case involving allegations of cheating and forgery amounting to Rs. 65,01,000. The court, presided over by Additional Sessions Judge Dr. S.D. Tawshikar (Court No. 10), rejected his bail application on April 10, 2024.

Kondkar was arrested in connection with C.R. No. 154 of 2023, registered at the MRA Marg Police Station. He is accused of offenses under Sections 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property), 465 (forgery), and 471 (using as genuine a forged document or electronic record) read with 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code (IPC).

Background and Allegations:

The case was initiated by Nakhir Rashid Khan, who alleged that Kondkar and his associates induced him to invest a substantial amount of money in a transportation business with promises of high returns. Khan invested in “S.K. Corporation,” owned by Smt. Bitoo Khan (Kondkar’s wife, who is absconding), and “Micron Logi,” purportedly owned by the now-deceased Mukesh Patel.

Initially, Khan received returns on smaller investments from “Micron Logi,” building his confidence. He then invested a total of Rs. 1,79,40,000, but payments stopped in June 2023. Upon investigation, Khan discovered that both companies were fraudulent and never conducted any actual business.

Arguments Presented:

Advocate Javed Ansari, representing Kondkar, argued that the transactions were part of a legitimate commercial dealing. He claimed that Khan had received returns amounting to Rs. 1,42,00,000 out of the total investment, leaving an outstanding amount of Rs. 65,00,000. Ansari attributed the payment delays to financial problems faced by “S.K. Corporation.” He also pointed to the delay in filing the FIR and argued that Kondkar had cooperated with the investigation.

Additional Public Prosecutor (APP) Ajit Chavan opposed the bail, citing the seriousness of the offenses and the absconding status of Kondkar’s wife, a key accused in the case.

Advocate Metanshu Purandare (with Advocate Sakshi Salunkhe) representing the complainant, argued that the companies were mere paper entities used to defraud Khan. He also pointed out that Kondkar faced a similar FIR in Navi Mumbai and that the invoices provided were fabricated. Purandare further alleged that Khan had received threats from a known criminal associated with Kondkar and that the police investigation was inadequate.

Court’s Reasoning and Decision:

Judge Tawshikar, after reviewing the FIR and charge sheet, concluded that the case involved a well-planned conspiracy to cheat Khan, rather than a mere business failure. The court noted that “S.K. Corporation” had no actual transportation business and that “Micron Logi” was created to give the appearance of legitimate transactions.

The court also highlighted the absconding status of Smt. Bitoo Khan, stating that Kondkar appeared to be the mastermind behind the fraud. The judge found that further investigation was necessary, particularly regarding the money trail and the allegations of threats and inadequate police work.

Order Issued:

The court rejected Kondkar’s bail application, stating that his release would hamper the ongoing investigation and could lead to witness intimidation. The order was dictated and pronounced on April 10, 2024, and signed on April 15, 2024. The certified copy was uploaded on the same day at 2:40 p.m.

This decision emphasizes the court’s stance against sophisticated financial frauds and its commitment to ensuring thorough investigations and protecting victims.