PRANAY ATUL MEHTA Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard Mr. Subhedar, learned Counsel appearing for the Applicant and Ms. Yadav, learned APP appearing for the Respondent-State.

(2.) This application is filed under Sec. 438 of the Code of Criminal Procedure, 1973 seeking pre-arrest bail in connection with C.R. No.84 of 2023 registered with Bundgarden Police Station, Pune, for the offences punishable under Ss. 405, 420 read with 34 of the Indian Penal Code, 1860 and Sec. 3 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999.

(3.) Mr. Subhedar, learned Counsel appearing for the Applicant argued the matter for considerable time. He submitted that the Applicant is not involved in the crime. He relied on the Applicant s statement recorded concerning complaint filed by the Applicant (Exhibit-D Page 90 to 95). He submitted that in fact the Applicant is the victim. He submits that although in the account of the Applicant about 17 persons deposited various amounts aggregating to about Rs.8,33,36,063.00 the said amounts are immediately transferred in the account of Ashtavinayak Investment Company . He submits that although the main accused i.e. Sevalkumar Nadar and his wife Sneha Nadar transferred about 5 vehicles in his name including two Mercedes Cars and one BMW Car, however, the said vehicles were transferred in his favour for partly repaying various amount invested by him in the said company. He therefore, submitted that Anticipatory Bail Application be allowed.