9911796707
TMI Blog2024 (7) TMI 1068X X X X Extracts X X X X X X X X Extracts X X X X ..... olders (victims). Although it is stated in the charge-sheet that the applicant had an active role to play in opening of fake accounts of such victim shareholders, there does not appear to be any material to support such an assertion. It is brought to the notice of this Court that one of the employees of accused No.1 i.e. Mahadev Gavde, in his statement recorded under Section 164 of the Cr.P.C. has described in detail as to the manner in which the accused No.1 used to open such fake accounts of the victim shareholders. There is no role ascribed to the applicant in the said statement. This Court is of the opinion that the applicant had been able to make out a case to contend that there is scant material to directly link the applicant with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence, the case is now registered as Crime No.66 of 2023, registered by EOW, General Cheating-4, Mumbai. 3. The FIR was initially registered against unknown persons. It was registered at the behest of an employee of a company called J.M. Financial Services Ltd. It was alleged that unknown persons had siphoned off huge amount of money by creating fake Demat accounts of shareholders whose shares were lying dormant. Such shares were disposed of and the proceeds were misappropriated. When the aggrieved persons approached the company of the informant, the FIR came to be registered and the investigation was undertaken. As on today, there are three accused persons in the present case, of whom the applicant is accused No.3. Considering the material ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has perused the charge-sheet and the documentary material on record. There are indeed whatsapp chats placed on record along with the charge-sheet, indicating that certain messages emanated from the mobile phone of the applicant and they were sent to the accused No.1. The CDRs also appear to indicate that the applicant and accused No.1 may have been in contact with each other. 7. Being a stock broker and in the business of shares, merely because the applicant was in touch with accused No.1 and he forwarded certain whatsapp messages concerning details of shares that could be said to be dormant, in itself cannot be the basis of claiming that the applicant had a major role to play in duping the shareholders (victims). Although it is stated in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0(B) of the Indian Penal Code (IPC), on furnishing PR bond of ₹ 1,00,000/- and one or two sureties in the like amount to the satisfaction of the Trial Court. (C) The applicant shall not tamper with the evidence in any manner. He shall not influence the informant, witnesses or any other persons concerned with the case. (D) The applicant shall upon release immediately inform the Investigating Officer of his contact number and residential address and update the same in case of any change. 10. Needless to say, in case of violation of any of the aforesaid conditions, the bail granted to the applicant shall be liable to be cancelled. 11. It is further made clear that the observations made in this order are limited to the question of grant o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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