ISHWAR BHIMRAO Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) By the present application filed under Sec. 439 of the Code of Criminal Procedure, 1973 ("Cr.P.C." for short), the applicant seeks his release on regular bail in connection with Crime Register No. 415 of 2024 registered with Shivajinagar Police Station, Pune. The said crime is registered for offences punishable under Ss. 420 (cheating), 406 (criminal breach of trust), 467 (forgery of valuable security), 471 (using forged document as genuine), and 34 (common intention) of the Indian Penal Code, 1860 ("IPC" for short).

(2.) The brief facts, as alleged by the prosecution, are that the complainant is engaged in the construction business under the name and style of M/s. Dalal Group and Company Development and Builder. On 24/2/2024, the complainant had earlier lodged a complaint against the present applicant and other coaccused. The complainant, facing financial difficulties, sought a loan of Rs.30.00 crores from a finance company. He was introduced to co-accused Nos. 1 and 3, who were stated to be members of Shree Vyankatesh Money Lenders Finance Legal, through two persons namely, Mr. Jagganath Gaikar and Mr. Jairam Bhopi. Co-accused Nos. 1 and 3 assured the complainant that the said loan would be disbursed within 8 days but demanded an advance payment of Rs.50.00 lakhs, which was approximately 12% of the proposed loan amount. The complainant agreed to such demand and began depositing the amounts in installments.

(3.) In December 2021, as per the directions of the present applicant, who was representing himself as the President of Shree Vyankatesh Money Lenders Finance Legal, the complainant was asked to become a shareholder of the said entity. Accordingly, on 25/1/2022, the complainant issued cheque No. 222736 for Rs.1,30,000.00 in the name of Shree Vyankatesh Money Lenders, for which a receipt bearing Serial No. 201 was issued. Thereafter, relying upon repeated assurances of the accused persons, the complainant deposited in total an amount of Rs.48,43,000.00 in accounts linked with the accused. The specific details of these transactions are mentioned in the First Information Report.