[Cites 2, Cited by 0]
Gujarat High Court
State Of Gujarat vs Kotak Mahindra Pvt. Ltd Through ... on 27 March, 2026
NEUTRAL CITATION
R/CR.RA/193/2019 JUDGMENT DATED: 27/03/2026
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IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/CRIMINAL REVISION APPLICATION (AGAINST ORDER
PASSED BY SUBORDINATE COURT) NO. 193 of 2019
FOR APPROVAL AND SIGNATURE:
HONOURABLE MR. JUSTICE HASMUKH D. SUTHAR
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Approved for Reporting Yes No
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STATE OF GUJARAT
Versus
KOTAK MAHINDRA PVT. LTD THROUGH NIRANJAN A. KASVEKAR &
ANR.
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Appearance:
MR ROHAN RAVAL, APP for the Applicant(s) No. 1
MR.JAY S SHAH(7244) for the Respondent(s) No. 1
RULE SERVED BY DS for the Respondent(s) No. 2
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CORAM:HONOURABLE MR. JUSTICE HASMUKH D. SUTHAR
Date : 27/03/2026
JUDGMENT
1) By way of present criminal revision application the applicant -
State of Gujarat has assailed the judgment dated 27.12.2018, in
Criminal Misc. Application No.1359 of 2018, passed by the
learned Principal District & Sessions Judge, Ahemdabad (Rural),
(who shall hereinafter be referred to as "learned Sessions
Judge"), whereby, the learned Sessions Judge has been pleased
to pass the order permitting the respondent no.1 herein - Kotak
NEUTRAL CITATION
R/CR.RA/193/2019 JUDGMENT DATED: 27/03/2026
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Mahindra Prime Ltd., to sell the muddamal Toyoto Camry Hybrid
Car bearing Reg. No.GJ-01-RL-5445, after following necessary
procedure prescribed in the law.
2) The complaint was lodged at the instance of DSP, CID Crime,
Gandhinagar Zone Police Station, under Section 3 of the Gujarat
Protection of Interest of Depositors Act and during the course of
investigation the said vehicle came to be seized. By way of
judgment dated 27.12.2018, under Section 451 of the Code of
Criminal Procedure interim custody of the vehicle was handed
over to the respondent no.1 herein and subsequently during the
pendency of the revision application the respondent no.1 has
filed the affidavit declaring the said vehicle came to be auctioned
and amount is lying with the respondent no.1. Pursuant to the
said fact the coordinate bench vide order dated 09.05.2019 has
been pleased to pass the following order:
"Heard learned APP Mr. K. L. Pandya for the
Applicant - State of Gujarat.
Nobody has remained present on behalf of
Opponent Nos.1 and 2.
It is submitted that an amount of Rs.15,71,000/-
was received on 13.3.2019 by on line transfer and the
receipt of the said payment was issued by Opponent -
Kotak Mahindra Pvt. Ltd.
It is requested that the said amount is required to
be deposited in FDR in any Nationalized Bank.
Opponent No.1 - Kotak Mahindra Pvt. Ltd. Is
therefore directed to deposit the said amount of
Rs.15,71,000/- in FDR in a separate account in its own
Bank for initial period of three months and thereafter it
NEUTRAL CITATION
R/CR.RA/193/2019 JUDGMENT DATED: 27/03/2026
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will be renewed for every 3 months, till disposal of this
Criminal Revision Application.
Let the matter is listed 26.06.2019.
Direct service permitted."
3) Since the coordinate bench has passed the order to deposit the
amount received from the auction of the said vehicle i.e.
Rs.15,71,000/- in FDR in a separate account in its own Bank for
initial period of three months and subsequently to be renewed
for every three months, till final outcome of the GPID
proceedings. Hence, the learned Sessions Judge is directed to
pass appropriate order qua the auctioned amount with accrued
interest, at the time of finally deciding the matter under GPID
Act independently on its own merits.
4) In view of above, nothing is required to be decided further and
accordingly the present revision application is disposed of with
aforesaid clarification.
5) Record and proceedings, if any, be sent back to the concerned
Court forthwith. Rule is discharged.
(HASMUKH D. SUTHAR,J)
ANKIT JANSARI
