JIGNESH D. SANGHAVI Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Apprehending arrest in connection with C.R. No.483 of 2021 registered with Yerawada Police Station for offence punishable under Sec. 406, 420, 464, 465, 468, 471 read with Sec. 34 of the Indian Penal Code, 1860 and Sec. 21 and 23 of the Banning of the Unregulated Deposits Act, 2019, the applicants have filed present anticipatory bail applications seeking relief under Sec. 438 of the Criminal Procedure Code, 1973.

(2.) According to prosecution, in March 2020, Dharmesh Bharat Desai and Jignesh D. Sanghavi (hereafter "accused persons" for short) made a call to the informant stating that his friend, Vijay Agarwal is an insurance agent and he should invest amounts in the insurance policy. Thereafter, the accused persons called upon the informant to invest in various policy so that he will get 11% interest but the informant refused to comply with it at that time. Thereafter, accused persons again told the informant that he is agent of Edelweiss Company and the complainant can get 11% returns. Relying on these representations, the informant introduced his friend. According to the prosecution between 1/4/2020 to 6/1/2021 the informant invested total sum of Rs.1,25,59,532.00 with the accused persons. The accused persons refunded part of the amount but major part remained with the accused persons. The allegation against the applicants is that the accused persons introduced the applicants as his friend for purchase of informant's property. The applicants got executed sale deed of four properties. The applicants paid part consideration but refused to pay remaining consideration. Therefore, the informant lodged report against the applicants.

(3.) Learned Sessions Judge rejected the applications filed by the applicants under Sec. 438 of the Criminal Procedure Code, 1973 by order dtd. 27/11/2022. Aggrieved thereby, the applicants have filed present anticipatory bail applications.