Bombay High Court
Satish Victor Dharavi vs The State Of Maharashtra on 24 August, 2021
Author: Prakash D. Naik
Bench: Prakash D. Naik
Ethape 1 8.BA.188.20 & 1423.21
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
BAIL APPLICATION NO.188 OF 2020
Satish Victor Dharavi .. Applicant
Vs.
The State Of Maharashtra .. Respondent
WITH
BAIL APPLICATION NO.1423 OF 2021
Sanjay Charlie Noon .. Applicant
Vs.
The State Of Maharashtra .. Respondent
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Mr.Tushar N. Sonawane, Advocate for applicant in
Digitally signed
by
DNYANESHWAR
DNYANESHWAR ASHOK ETHAPE
BA/188/2020.
ASHOK ETHAPE
Date:
2021.08.31
18:00:17 +0530
Mr.Ashutosh R. Gole, Advocate for applicant in
BA/1423/2021.
Mr. R. M. Pethe, A.P.P. for the State-Respondent
in both the applications.
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CORAM : PRAKASH D. NAIK, J.
DATE : 24th AUGUST, 2021
PC.
1. The applicants in both the applications are seeking bail
in C.R. No.123 of 2019 registered with Palghar Police Station
for the offences punishable under Sections 420, 467, 468, 471
read with Section 34 of the Indian Penal Code (for short "IPC").
The First Information Report (for short "FIR") was lodged on
07.05.2019.
Ethape 2 8.BA.188.20 & 1423.21
2. The case of the prosecution is that in March 2010 the
accused Nandan Mhatre and his wife Jagruti Mhatre had
approached the complainant and represented that Salvation
Group of Companies has various schemes through which she
can earn good returns. She can induct the person known to
her as well as relatives as members of the scheme and by
acting as agent. She would be financially beneficiaries. The
accused showed brochure, sleep books and other documents.
Nandan Mhatre represented that he has Reginal Director of
Company and his wife is in-charge. The complainant believed
the representations of the accused and agreed to be the
representative of the said Company. She was appointed as
agent in April 2010. She visited several places and collected
amount from the people for investing in the said Company.
The complainant invested the amount of Rs.60 lakhs through
several investors. Although it was promised that the
investment would be doubled, in spite of maturity date
investors did not receive any returns. The complainant
approached the Nandan Mhatre and his wife and inquired
Ethape 3 8.BA.188.20 & 1423.21
about the returns of investors. They give evasive answers. The
complainant visited the head office of the Company at
Bhayander, it was found closed. The schemes were in progress
from 2010 to 2017. The Chairman/Managing Director Sanjay
Noon, Director Satish Dharavi, Devraj Rathod and the
Entertainment Director Chandrakant Pawar used to attend the
seminars at various places. Thus, the complainant alleged
that about 400 persons were cheated and the amount of Rs.60
lakhs collected from them by misappropriated. Both the
applicants were arrested. On completing investigation, charge-
sheet was filed.
3. The applicants preferred application for bail before the
Sessions Court. The said applications were rejected by order
dated 09.11.2019.
4. Learned advocate representing both the applicants
submitted that the they are in custody for substantial period of
time. Investigation is completed and the charge-sheet is filed.
Further detention of the applicants is not necessary. The
applicant Satish Dharavi had resigned from the Company in
Ethape 4 8.BA.188.20 & 1423.21
21.12.2016. Board of Directors passed the resolution that the
said accused is not connected or concerned with the legal
matter associated with the Company and the applicant is not
responsible for any action which the Company may initiate in
future. The details of the Company obtained from the website
of Ministry of Corporate Affairs demonstrates that the
applicant Satish Mhatre is not the Director of the Company.
He had invested the amount of Rs.12,29,142/- in the name of
his wife, daughter and close relatives. The complainant had
misappropriated the fund of the Company. She had executed
indemnity bond in favour of the Company, admitting her
faults. Applicant Satish Dharavi was not responsible for the
working of the Company. Accused No.2 is granted bail by this
Court and Accused No.1 has been granted bail by the Sessions
Court. All the properties belonging to accused Sanjay Charlie
Noon, Company and the co-accused have been attached. The
bank accounts and investments of the accused and the
Company were attached. The applicant Sanjay Noon is in
custody from 08.05.2019. The Investigating Officer has
Ethape 5 8.BA.188.20 & 1423.21
recovered the documents and the collected details of all the
properties of the Company and the documents pertaining to
investments made by people. Both the applicants have filed
affidavit/undertaking before this Court which is executed by
the applicants in the jail where they have been detained
stating that they have no objection for attachment, sale,
auction or for initiating any action under the provisions of
Maharashtra Protection of Interest of Depositors Act, 1999 in
respect of the properties which are seized and reflected in the
charge-sheet. They will not deal with the said properties. On
instructions, it is also submitted that in the past they have not
created any third-party interest in relation to the properties of
the accused Company. Learned counsel for the applicants in
Bail Application No.1423 of 2021, on instructions, submits
that he had prepared the gift deed in relation to the property
viz. 60 gunthas. The beneficiaries for the investors he had also
executed the memorandum of undertaking with some of the
investors. However, the said documents were not registered
and do not have any legal sanctity. The applicant would not
Ethape 6 8.BA.188.20 & 1423.21
act upon the said documents.
5. Learned APP submitted that the huge amount was
misappropriated by the accused. The applicant Sanjay Noon is
the Chairman/ Managing Director of the Company. The
accused had induced the investors to invest the amount with
false promises. Statement of various witnesses were recorded.
The investigating agency attached immovable property of the
accused situated in Vashim, Satara, Dahanu and Vada,
charge-sheet is filed. The applicant Satish Dharavi was
Director of the Company. The affidavit filed in Bail Application
No.188 of 2020 states that the amount was involved to the
tune of Rs.1,61,08,538/-. Both the applicants were connected
with Salvation Group of Companies. The applicant Satish
Dharavi is the Director of Salvation Group of Company from
11.02.2011 and he is involved in the transactions of Company.
Amount was transferred from the bank account of Salvation
Group of Companies to the Satish Dharavi. There are
immovable properties in the name of Salvation Group of
Companies. Co-accused were granted bail, were not Directors
Ethape 7 8.BA.188.20 & 1423.21
of the Company. C.R. No.272 of 2019 was registered against
the applicant Satish Dharavi.
6. The applicants are in custody for a period of about two
years. Investigation is completed and charge-sheet is filed. The
complainant was the agent of Company. According to her, she
had represented the Company and collected the amount of
Rs.60 lakhs from investors which was invested in the accused
Company. Details of crediting amount in account of Company
are not provided. The affidavit filed by prosecution mentions
that the offences were registered under Sections 420, 467,
468, 471, 34 of the IPC and Sections 3 and 4 of MPID Act. The
investigation was transferred to Economic Offences Wing,
Palghar on 02.07.2019. During the course of investigation, the
investigating agency attached immovable properties of the
accused which are situated at districts Washim and Satara.
The office premises of the accused situated at Dahanu and
Wada were also seized. The charge-sheet was filed on
02.08.2019. The invested amount was around 1,61,08,538/-.
The order of the Special Court under the MPID Act rejecting
Ethape 8 8.BA.188.20 & 1423.21
application for bail preferred by Sanjay Noon. However,
mentions that the accused had accepted amount of
Rs.4,50,00,000/- from the investors and failed to return the
same. The said order was passed on 09.11.2019. However,
affidavit dated 09.04.2021 categorically mentions that the
amount involved is Rs.1,61,08,538/-. There is no evidence to
substantiate the amount referred to in order. Nandan Mhatre
and his wife Mrs. Jagruti Mhatre were also agents of the
accused Company. They had approached the complainant
inducing her to act as agent of the Company. They are granted
bail. The bank accounts are frozen. Both the applicants had
filed affidavit/undertaking. the applicant Satish Dharavi had
filed affidavit/undertaking dated 12.08.2021 stated that he
has no objection for attachment, sale, auction or for initiating
any action under the provisions of Maharashtra Protection of
Interest of Depositors Act, 1999 in respect of the properties
which are seized and reflected in the charge-sheet. He will not
deal with the said properties in any manner and/or will not
part with the same and/or will not create any third-party
Ethape 9 8.BA.188.20 & 1423.21
rights in the properties which are liable to be attached under
the MPID Act, 1999. Learned counsel on behalf of the
applicant on instructions also submitted that he has not
create any third-party interest and dealt with the properties
under the attachment in the past. The applicants Sanjay Noon
has also filed affidavit/undertaking dated 12.08.2021 stating
that he has no objection for attachment, sale, auction or for
initiating any action under the MPID Act in respect of the
properties which are seized and reflected in the charge-sheet
filed against him. He will not deal with or transfer or create
third-party rights in the properties seized or reflected in the
charge-sheet filed against him. Learned counsel for the said
applicant also made the statement as stated above.
Considering these circumstances, bail can be granted to the
applicants.
ORDER
(i) Bail Application Nos.188 of 2020 and 1423 of 2021, are allowed;
(ii) Applicants are directed to be released on bail in connection with C.R. No.123 of 2019, registered with Ethape 10 8.BA.188.20 & 1423.21 Palghar Police Station, on executing P.R. Bond in the sum of Rs.1,00,000/-, each, with one or more local sureties in the like amount;
(iii) Applicants shall abide by the undertaking filed before this Court and the statement made before this Court;
(iv) Applicants shall not tamper with the prosecution evidence;
(v) Applicants shall attend trial Court (M.P.I.D. Special Court) regularly on the date of hearing of the case, unless exempted by the Court;
(vi) Applicants shall not tamper with the prosecution evidence;
(vii) Applicants are permitted to furnish provisional cash bail in the sum of Rs.1,00,000/- each for a period of eight weeks;
(viii) Bail Application Nos.188 of 2020 and 1423 of 2021, stand disposed of accordingly.
(PRAKASH D. NAIK, J.)