ALNESH AKIL SOMJI Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) By this application the applicant (Accused no1 ) is seeking bail under sec. 167(2) of the Criminal Procedure Code (Cr.P.C.) in Crime no 153/2021 PS Koregaon Park Pune, for the offence punishable under sec. 406, 409,420 read with Sec. 34 of Indian Penal Code (IPC) and Sec. 3 and 4 of the Maharashtra Protection of Depositors Act (MPID Act). The learned Special Judge at Pune by order dtd. 7/1/2022 has refused to release the applicant on default bail under Sec. 167(2) of CrPC.

(2.) The aforesaid crime is registered on the basis of the complaint dtd. 27/10/2021 lodged by the intervenor Yogesh Vishnu Dixit. The applicant is a builder by profession. According to the informant the applicant with his wife Dimple Somaji (Accused no 2) had induced him to invest amount in their venture M/s M.G. Enterprises and had accepted deposits from the informant and others assuring 24% p.a. returns. The informant claims to have invested a total amount of Rs.4000000.00 for which returns were paid from 2016 to 2018. The informant had inverted a further amount of Rs.500000.00 in 2019. The applicant and the co-accused had failed to repay the principle and the interest amounting to Rs.66,90,000.00. The informant claims that the applicant and the co-accused had also defaulted in the matter of repayment of the principle and interest to Kiran Shetty, Maya Dwarkadas and others.

(3.) It appears that the applicant and his wife were arrested at Delhi Airport on 1/11/2021 and were produced before the Patiala Court at Delhi on 2/11/2021 and 48 hours transit remand was obtained. On 3/11/2021 they were produced before the Special Court (MPID) at Pune, when they were remanded to police custody (PCR) till 8/11/2021 which was further extended till 11/11/2021. From 11/11/2021, the applicant is in magisterial Custody Remand(MCR). The accused no.2 Dimple Somji has been released on temporary bail interalia on condition of payment of certain amount by the learned Special Court.