SURYAKANT GULABRAO HELKAR Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) By the present revision application, the applicant/ accused No.5 seeks to impugn the order dtd. 4/9/2015, passed by the learned Additional Sessions Judge, Thane, below Exhibit 153 in Sessions Case No.450 of 2011 (earlier Pune Sessions Case No.257 of 2008), whereby his application for discharge was rejected.

(2.) It is the case of the prosecution that accused Nos.1 and 2 devised multiple schemes under the banner of Unique Fincorp and publicised them through newspaper advertisements. Through these advertisements, they enticed the complainant and other witnesses with assurances of lucrative and high returns on investment, as well as offers to procure motor vehicles of various brands in the investors' names upon payment of a down payment, thereby securing their confidence. It is alleged that, despite Unique Fincorp neither being registered nor authorised by the Reserve Bank of India, the accused falsely represented to the complainant and the witnesses that the company was duly registered and approved by the Reserve Bank. It is further alleged that accused Nos.1 and 2, in connivance with others, executed fabricated agreements on government-franked papers in the name of Unique Travels. By creating such sham agreements in exchange for investments and issuing advance cheques, they deliberately suppressed material facts and induced the complainant and other witnesses to invest substantial sums. Using this modus operandi, accused Nos.1 and 2 are alleged to have collected more than Rs.17.00 crores, both in cash and through cheques, from the complainant and approximately 3,500 investors. It is further alleged that they reneged on their promise by failing to deliver the promised returns and purchasing the vehicles in the investors' names, thereby defrauding them and misappropriating the funds for personal gain.

(3.) The prosecution, relying upon the statement of accused No.1, further alleges that accused Nos.3 to 6 committed housebreaking and theft at premises located at Prabhat Road, Lane No.15, Mudrali Co-op. Housing Society, 2nd Floor, Plot No.A/10, Pune, by using a duplicate key. They are alleged to have appropriated and distributed among themselves a sum of Rs.2.5 crores from the investment funds of Unique Fincorp. Based on these allegations, the present applicant/ accused No.5, along with the co-accused, is alleged to have committed offences punishable under Ss. 406, 411, 420, 414, 489(G), 457, 380 read with 34 of the Indian Penal Code ('IPC'), and Ss. 45S, 45-IA, 58B, and 5(A) of the Reserve Bank of India Act, 1934.