NASIR MOHAMMED YUSUF SHAIKH Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard learned counsel for the applicant and learned APP for the State.

(2.) This is an application for bail in respect of the offence punishable under Ss. 420, 406 read with 34 of the Indian Penal Code (hereafter ' IPC ' for short) registered on 11/5/2022 vide C.R. No. 448/2022 with Charkop Police Station.

(3.) The applicant was arrested on 1/8/2022 and now is in custody for more than one year. The allegations pertain to the year 2012 onwards. As many as five investors had paid a sum of Rs.2,04,00,000.00 for allotment of the SRA flats. The applicant had promised that the flats will be allotted to the investors which flats will be developed by M/s. Lakdawala Builders and Developers. Though the applicant has taken the monies, the said flats were not allotted.