SANJAY SANTOSH KUMAR SINHA Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Applicant is seeking bail in C.R. No. 23/2018 registered with Economic Offences Wing, Mumbai for offence punishable under Ss. 465, 467, 468, 470, 471 and 420 r/w 120 (B) of the Indian Penal Code.

(2.) Allegation against the applicant in the present crime are, he being in-charge director of Leeway Logistics Ltd, alongwith other coaccused hatched a conspiracy and induced the informant in believing that his company is in possession of forklifts, electric stackers, battery charging trolleys etc which were given on rent to companies like Mercedeze Benz, Force Motors and Bajaj Auto Limited and obtained finance of Rs. 20 Crores.

(3.) Out of the amount of Rs. 20 Crores of loan, Rs. 8,56,96,723.00 was deposited in the account of M/s. Leeway Logistics Limited and amount of Rs. 1,50,00,000.00 was refunded. It is further claimed that since balance amount was not refunded, upon enquiry, it is claimed that balance amount was misappropriated.