India Infoline Investment ... vs Sunil S/O Dedoraoji Jot And Others
2017 Latest Caselaw 6114 Bom

                                                    1                       apl529.16.odt

          IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                    NAGPUR BENCH AT NAGPUR

              CRIMINAL APPLICATION (APL) NO.529/2016

      India Infoline Investment Services Ltd.
      Presently known as India Infoline Finance Ltd.
      A company incorporated under the Companies
      Act, having its office at IIFL House, Sun Infotech
      Park, Road No. 16V, Plot No. B-23, MIDC,
      Thane Industrial Area, Wagle Estate,
      Thane - 400 604                            .....APPLICANT

                               ...V E R S U S...

 1. Shri Sunil s/o Dedoraji Jot,
    aged about 52 years, Occ. Business, 

 2. Sau. Anjali w/o Sunil Jot,
    aged about 47 years, Occ. Business,

 3. Shri Girish s/o Vasantrao Langar,
    aged about 46 years, Occ. Business,

      All r/o Aarti Apartments, Plot No.20,
      Kotwal Nagar Ring Road, Nagpur-22.

 4. The State of Maharashtra through
      Police Station Officer, Ambazari,
      Nagpur.                                                 ...NON APPLICANTS
 -------------------------------------------------------------------------------------------
 Mr. P. V. Rajurkar, Advocate for applicant.
 Mr. R. Tajne, Advocate for non applicant nos.1 to 3.
 Mrs. K. R. Deshpande, A.P.P. for non applicant no.4.
 -------------------------------------------------------------------------------------------
                               CORAM:- V. M. DESHPANDE, J.

DATED :- 16.08.2017

ORAL JUDGMENT

1. Rule. Rule is made returnable forthwith. Heard finally

by consent of the parties.

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2. This is an application for cancellation of anticipatory

bail granted in favour of the non applicant no.1 by the learned

Additional Sessions Judge, Nagpur dated 24.06.2016.

3. The non applicant nos.1 to 3 approached to the learned

Court below for anticipatory bail since they were apprehending

their arrest in connection with Crime No.123/2016 registered with

Police Station, Ambazari, Nagpur for an offence punishable under

Sections 409, 420, 421, read with Section 34 of the Indian Penal

Code. The FIR was lodged by Gopal Kurle, Area Collection

Manager, India Infoline Finance Pvt. Ltd. The prosecution case as

it is apparent from the report dated 09.06.2016 is as under:

M/s. Yogda Constructions, Swawlambi Nagar, Nagpur

through its partner Girish Langar, Sunil Jot, Smt. Anjali Jot and

Ravindra Lakudkar applied for loan for construction and

development activities and towards the security they mortgaged

property bearing plot No. 126, House No. 537 admeasuring 3569

Sq. Ft. of mouza Ajni, Laxmi Nagar, Nagpur on 10.05.2011 and

after verifying the documents and on completion of the necessary

formalities, the company issued a demand draft of Rs.88,73,002/-

to the said company. It is the main allegation that present non

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applicant nos.1 to 3 and co-accused person without obtaining no

objection certificate from the said company sold the flats

constructed on the mortgaged plot to the prospective purchasers

and did not repay the loan amount to the company. On the basis

of the said report, the above said crime came to be registered.

3. The learned Court below in Misc. Criminal Application

No.1383/2016 granted anticipatory bail in favour of the non

applicant nos.1 to 3. In the said order, it was directed that the

non applicant nos.1 to 3 shall attend Police Station, Ambazari on

every Wednesday in between 6.00 P.M. to 8.00 P.M. till

completion of the investigation and also imposed certain

conditions.

4. Perusal of the impugned order shows that the learned

Court below has considered the law laid down in Umashankar

Gopalika vs. State of Bihar and anr; (2005) 10 SCC 336. It is

also noted by the learned Judge that the arbitration proceedings

were filed against the non applicants and M/s. Yogada

Constructions in which they are partners vide Arbitration

Proceeding Nos. 25/2014, 26/2014 and 27/2014. The learned

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Arbitrator has passed the award on 29.09.2015. Though the

award was passed in favour of the present applicant, for the

reasons best known to the applicant, the execution proceedings

were not filed. Further, the State has also not filed application for

cancellation of the bail.

5. After hearing the learned counsel for the parties, it is

clear to me that the custodial interrogation of the non applicant

nos.1 to 3 was not necessary. The Court below, in my view, has

exercised its discretion correctly warranting no interference by this

Court. The application is devoid of any substance. The same is,

therefore, dismissed.

Rule is discharged.

JUDGE

kahale