VYOMESH SHAH Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) This petition is filed under Article 226 of the Constitution of India seeking declaration that (i) arrest of the Petitioners is illegal, unlawful and unwarranted, (ii) the proceedings against the Petitioners in respect of CR. No. 336 of 2015 of Dahisar Police Station are illegal. The Petitioners are also claiming relief for quashing and setting aside condition Nos. 2(i), 2(ii) and 2(iii) in the order dated 12th February 2016 passed by the learned Special Judge in CR. No. 336 of 2015 registered with Dahisar Police Station to the extent that it imposes conditions of depositing Rs. 59 crore for granting bail. The Petitioners have further sought direction to the Respondents to defreeze the bank account No. 0111256053215 of Hubtown Limited maintained with Canara Bank, Santacruz (East),

(2.) On 20th January 2017, this petition was placed for admission before this Court. After hearing the learned Counsel appearing for the respective parties, we passed following order :

(3.) The land admeasuring about 800 square yards situated at Bhulabhai Desai Road, bearing Cadastral Survey No.1/701 and 1/72 of Malabar and Cumballa Hill Division, situate in 'D' Ward of the Municipal Corporation of Greater Mumbai was valued at Rs. 101 crores in the transaction between Hubtown Ltd. and Mr.Ramesh Kadam. Even in the charge-sheet filed by respondent No.2, the value of this property is shown to be Rs. 111 crores. The application filed by respondent for attachment of the said land is pending before the Special Court and as a matter of fact, this property is already attached by Enforcement Directorate. The petitioners cannot be made to lose the property and money both.