BHAVESHBHAI JYANTILAL PATEL Vs. STATE OF GUJARAT

JUDGEMENT

(1.) This successive bail application, after filing of the chargesheet, is filed by the applicant, who has been arrested in connection with the FIR being C.R.No.11216005220315 of 2022 registered with Dehgam Police Station, Dist.: Gandhinagar for the offences punishable under Ss. 406, 409, 420 and 477A of the Indian Penal Code. The applicant is in judicial custody since 24/6/2022. The Sessions Court, vide its order dtd. 8/10/2022 declined the prayer of bail made by the accused-applicant. Aggrieved with the order, the accused has preferred instant application.

(2.) Brief facts giving to file the present application are that the complainant is the Director of the Company viz. Ambition Mica Private Limited. In the year 2011-2012, the accused joined the company as Accountant and in the year 2015, he was promoted to the post of Chief Finance Officer. It is alleged that the applicant-accused, being a head of Finance Department, committed an act of criminal breach of trust, cheating and by falsification of account, he defrauded the company to the tune of Rs.28,78,05,884.00. It is further alleged that during the verification of stock of the company, there is a huge deficiency of raw material, goods in work in process and finished goods. The stock verification was done by Auditor Nihalani and Company. It is found that the stock was maintained on paper and upon physical verification, there is a deficiency of stock worth Rs.28,78,05,884.00. In such circumstances, it is alleged that the applicant - accused by misusing his position made alteration in the accounts, willfully and with intent to defraud, falsifies record of the company and encash the stock for his personal benefits.

(3.) Mr.Hriday Buch, learned counsel for the applicant, would submit that even if all the allegations levelled against the applicant are taken at their face value, no prima facie case is made out against the applicant for the offence as alleged. The entire story disclosed in the FIR is financially motivated and got up by the complainant himself with a view to secure 18% GST gain and to get relief from the bank loan. He would further submit that on 25/9/2021, the complainant came to know about the deficit stock. In this connection, referring to the audited books of accounts prepared by the C.A. Ashok Thakkar and Company, it is argued that on 30/9/2021, the stock was shown worth Rs.31,78,00,80,000.00 and the audited papers were uploaded before the BSE with the signature of the complainant. Thus, prima facie it appears that with a view to get Government benefits, the present FIR is being lodged after longtime.