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4. Mr.K.J.Panchal, learned Advocate Assisted by Mr. Rohit S. Verma learned advocate for the applicant, has placed a copy of order dated 14.12.2018 passed by the Coordinate Bench of this Court (Coram : Hon'ble Mr. Justice A.Y.Kogje) in Criminal Misc. Application No. 17540 of 2018, by which, the Coordinate Bench of this Court has considered the case of co-accused, which is facing similar charges. He further submits that as per the prosecution case, the accused was one of the conspirators from the beginning of the commission of offence and has extorted around 176 bit coins allegedly from Dhaval Mavani. He further submits that an application, which was submitted on behalf of Shailesh Bhatt, an FIR came to be lodged at the instance of the police officer himself is not available, who is a star witness in the present crime. He further submits that there is no discovery or recovery from the present applicant and even, there is no evidence against the present applicant, which suggests that the allegations of extortion of bitcoins or any amount prima- facie made out. He further submits that the applicant is behind the bars since 23.04.2018 and the investigation qua him is over and therefore, considering the above aspects, the R/CR.MA/23789/2018 ORDER applicant may be enlarged on regular bail by imposing suitable conditions.

5. Mr. Mitesh Amin, learned Public Prosecutor, opposes the grant of bail looking to the nature and gravity of offences. On inquiry, he submits that the accused is one of the conspirators from the beginning of the commission of offence and has extorted around 176 bit coins allegedly from Dhaval Mavani. He further submits that Mr. Shailesh Bhatt, who is an accused in another offence along with Paladiya with regard to the similar transaction of illegal transfer of bitcoins, is not available and warrant under Section 70 of the Code has already been issued against him.