MARKAS YOHAN THORAT Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) This is an application for bail in connection with C.R. No. 11 of 2017, registered with Bhoiwada Police Station, Mumbai, for offences punishable under Sections 409 , 420 , 120B of Indian Penal Code (hereinafter referred to as " IPC " for short) and Sections 3 and 4 of Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act (hereinafter referred to as "MPID Act" for short) read with Sections 3, 4 & 5 of Prize Chits and Money Circulation Scheme (Banning) Act, 1978. The First Information Report (hereinafter referred to as "FIR" for short) was registered on 16th January, 2017. The investigation was taken over by EOW, Mumbai, vide C.R. No.08 of 2017.

(2.) The prosecution case is that, the informant has alleged that accused Temple Rose Real Estate Private Limited, its Directors and others had accepted deposits from investors by floating buyback, Guaranteed Double Income, Income Growth Plan, etc. Schemes. They induced investors by making promise of more profits on the investments and after maturity failed to return the assured benefits. The informant was duped for an amount of Rs. 37,38,775/- other investors were cheated for crores. The applicant was arrested on 5 th August, 2017 in another case and in the present case he was arrested on 5th February, 2018. On completing investigation, charge-sheet is filed. Case is numbered as MPID Special Case No.12 of 2018.

(3.) The applicant had preferred Criminal Bail Application No.2990 of 2018 before this Court which was rejected by order dated 26th February, 2019. Subsequently, he preferred another application for bail before this Court which has been rejected by order dated 3 rd February, 2020. However, the trial Court was requested to conclude the trial within a period of Six months and liberty was granted to applicant to prefer fresh application for bail in the event trial is not concluded within a period of Six Months.