Case Note & Summary
The applicant, Milind Satish Sawant, filed a bail application under Section 439 of the Code of Criminal Procedure, 1973, seeking regular bail in connection with Crime No. 52 of 2022 registered at Bhandup Police Station. The crime was registered for offences punishable under Sections 406, 409, 420 read with Sections 34 and 120-B of the Indian Penal Code, as well as under Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999. The allegations pertained to the applicant and other co-accused inducing depositors to invest in a company called 'M/s. Shree Ganesh Krupa Enterprises' and defaulting on repayment of deposits amounting to Rs. 1.25 crore. The applicant had been in custody since his arrest and the investigation was complete. The court considered the nature and gravity of the allegations, the role of the applicant, and the fact that the trial was likely to be protracted. The court applied the triple test for bail, considering the applicant's flight risk, tampering with evidence, and likelihood of absconding. The court held that the applicant had made out a case for bail and granted regular bail subject to conditions, including furnishing a personal bond of Rs. 50,000 with one or two sureties, not tampering with evidence, not leaving India without permission, and attending trial regularly.
Headnote
A) Criminal Procedure Code - Bail - Section 439 Cr.P.C. - Regular Bail - Triple Test - Applicant sought regular bail in a case involving alleged cheating and misappropriation of deposits - Court held that the applicant had made out a case for bail considering the nature of allegations, completion of investigation, and likelihood of protracted trial - Bail granted on conditions (Paras 1-10). B) Indian Penal Code - Cheating and Criminal Breach of Trust - Sections 406, 409, 420 read with 34 and 120-B IPC - Allegations of inducing depositors to invest in a company and misappropriating funds - Court noted that the applicant was not the main accused and had been in custody for a considerable period - Held that the triple test for bail was satisfied (Paras 2-9). C) Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 - Sections 3 and 4 - Deposit Fraud - Allegations of default in repayment of deposits - Court considered that the investigation was complete and the applicant's further detention was not necessary - Held that bail could be granted subject to conditions (Paras 2-9).
Issue of Consideration
Whether the applicant is entitled to regular bail under Section 439 of the Code of Criminal Procedure, 1973, in connection with Crime No. 52 of 2022 for offences under Sections 406, 409, 420 read with 34 and 120-B of IPC and Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999.
Final Decision
The court allowed the bail application and granted regular bail to the applicant on furnishing a personal bond of Rs. 50,000 with one or two sureties, subject to conditions including not tampering with evidence, not leaving India without permission, and attending trial regularly.
Law Points
- Bail under Section 439 Cr.P.C.
- Triple test for bail
- Section 406 IPC
- Section 409 IPC
- Section 420 IPC
- Section 34 IPC
- Section 120-B IPC
- Sections 3 and 4 of Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act
- 1999
