Bombay High Court
Dhruv Agarwal vs The State Of Maharashtra on 9 July, 2024
Author: N. J. Jamadar
Bench: N. J. Jamadar
2024:BHC-AS:27398
11-aba-3150-2023.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
ANTICIPATORY BAIL APPLICATION NO.3150 OF 2023
Dhruv Agarwal ...Applicant
vs.
The State of Maharashtra ...Respondent
Mr. Niteen Pradhan a/w. Ms. Shubhada Khot, for the Applicant.
Mr. A.A. Naik, APP, for the Respondent/State.
Mr. Rameshwar Rewale, PSI, Chandan Nagar police station.
CORAM : N. J. JAMADAR, J.
DATE : JULY 09, 2024
P.C.:
1. Heard the learned counsel for the parties.
2. This is an application for pre-arrest bail in connection with CR
No. 251 of 2023 registered with Chandan Nagar police station, Pune
for the offences punishable under sections 409, 419 and 420 read
with 34 of Indian Penal Code, 1860 (the Penal Code) and sections
66C and 66D of the Information Technology Act, 2000.
3. When the application was listed before the Court on 7 th
November, 2023, this Court was persuaded to grant interim bail.
The observations in paragraph Nos. 3 to 7, encapsulate in brief, the
prosecution case, the claim of the applicant and the resistance
thereto on behalf of the prosecution and the reasons which weighed
with this Court in granting the interim bail. They read as under:-
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3] The first informant lodged a report with the
allegations that unknown persons induced him to
transfer the amount to various accounts by making a
representation that if he executes the task, he will get
profit. Initially, small amounts were credited to the
account of the first informant to make him repose
confidence in them. Later on, by making the first
informant invest large amounts, those persons duped
him to the tune of Rs.24,93,000/-.
4] One of the accounts, to which the money
transferred by the first informant got credited was of
Aarti Creation. It transpired that a sum of
Rs.10,00,000/- came to be transferred to the account
of the applicant from the account of Aarti Creation.
The applicant, thus, apprehends arrest.
5] The learned Counsel for the applicant submitted
that when the said amount was credited to the
account of the applicant, the applicant, on his own,
had approached the police authorities seeking their
assistance. Attention of the Court was invited to the
e-mails dated 12th July, 2023 and 19th July, 2023
(Exhibit-G and H) addressed to the concerned police
officer. In the later e-mail i.e. specific reference to the
amount credited from the account Aarti Creation was
made.
6] It was submitted that the applicant trades in crypto
currency and has received the said amount towards
the sale of the crypto currency.
7] Prima facie, it appears that the role attributed to
the applicant is that of receiving the amount from the
account, to which the first informant was fraudulently
induced to credit the amount. As there is material to
show that the applicant had approached the police
authorities, the question as to whether the applicant
has been a privy to the alleged fraud warrants
consideration.
4. Mr. Pradhan, the learned counsel for the applicant, submitted
that pursuant to the aforesaid order, the applicant has appeared
before the investigating officer and cooperated with the
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investigation. Further investigation has not revealed the complicity
of the applicant. Therefore, the aforesaid order of interim bail
deserves to be made absolute.
5. In opposition to this, Mr. Naik, learned APP, resisted the
prayer for bail. It was submitted that the banks have flagged a
number of suspicious transactions in the accounts maintained by
the applicant. There is material to indicate that a sum of Rs. 10
lakhs was credited to the account of the applicant by Aarti Creation;
to which account the first informant was induced to credit the
amount by making a false representation that the first informant
would get lucrative returns. Mr. Naik submitted that immediately
after the said amount was credited by Aarti Creation, the applicant
further transferred the amount. Therefore, to facilitate further
investigation, the custodial interrogation of the applicant is
warranted.
6. I have carefully considered the submissions in the light of the
material on record.
7. The applicant claims to be a bonafide trader in crypto
currency. The applicant claimed that the said amount of Rs. 10
lakhs was credited to the account of the applicant by the person to
whom he had sold the crypto currency. The applicant has placed on
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record the documents, including the confirmation letters from
Binance, the online platform for trade in crypto currency to the
effect that the applicant had sold the crypto currency in two
tranches in consideration of Rs. 5 lakhs each. The statement of
account of the applicant, prima facie, indicates that the amounts
were credited to the account of the applicant, in proximity to the
said transactions. It further appears that after the account of the
applicant were freezed, the applicant approached Jadavpur police
station with a complaint that there were unauthorized transactions
in his account and the persons who credited the amount in his
account were demanding money from him.
8. The learned Additional Session Judge was of the view that the
aforesaid material especially the confirmation letter issued by the
Binance cannot be relied upon in the absence of a certificate under
section 65B of the Evidence Act, 1872.
9. I am afraid, the aforesaid approach may not be justifiable, at
this stage. Prima facie, it appears that the letters of confirmation
issued by Binance co-relate with the credit of the amount of Rs. 10
lakhs in the account of the applicant. The fact that the applicant
had subsequently utilized and/or transferred the said amount
received from Arti Creation does not prima facie bear upon the
complicity of the applicant as there are underlying transactions of
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trade in crypto currency. Moreover, there is material to indicate
that the applicant had approached Jadavpur police as well as
addressed communication to the police officer, Chandan Nagar
police station. These factors cumulatively make out a strong prima
facie case for exercise of discretion in favour of the applicant.
10. I am, therefore, inclined to make the order of interim bail
absolute.
Hence, the following order.
ORDER
1] The order of interim bail dated 7 th November, 2023 is made absolute on the terms and conditions incorporated therein. 2] In addition, the applicant shall henceforth appear before the investigating officer as and when directed. 3] In the event charge sheet is lodged, the applicant shall regularly attend the proceedings before the jurisdictional Court.
Application disposed.
(N. J. JAMADAR, J.)
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