1 ABA-820-11.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION Mhi ANTICIPATORY BAIL APPLICATION NO. 820 OF 2011 1. Ashish S/o Rajendra Kapila ) 2. Mrs. Binfair w/o of Ashish Kapila ). Applicants vs. State of Maharashtra Respondents Mr. A.M.Saraogi, Advocate, for the applicants. Mr. Y.M.Nakhwa, APP for the respondent - State. Mr. Rajendra Sorankar, Advocate for the Intervener. CORAM: J.H.BHATIA,J. DATE : 3rd October, 2011. P.C. 1. The applicants are original accused Nos. 1 and 2 in Criminal Complaint No. 34/SW/2011 before the Addl. Chief Metropolitan Magistrate, 40th Court at Girgaon, Mumbai filed by M/s. Sharma Properties Pvt.Ltd. under Sec. 406, 420, 467 read with Sec. 120-B of IPC on the basis of which Crime MECR No.09./2011 was registered at Gamdevi Police Station. 2. To state in brief, case of the complainant is that the present applicants, who are husband and wife inter-se, hold major equity stake in accused No.3 company. The accused No.1 is also the Managing Director of the same. 2 ABA-820-11.sxw Accused Nos. 1 and 2 represented to the complainant that the accused No.3 company was indebted to the City Bank to the tune of Rs.1.4 crore and they were urgently in need to repay that amount. They also represented that on payment of that money, the property of the company would be released by the City Bank and it would be free for transfer. The accused persons agreed to execute a sale deed of the property in favour of the complainant on depositing amount of Rs.1.4 crore directly in their loan account with the City Bank. On the basis of that representation, the complainant deposited amount of Rs.1.4 crore in the loan account of accuse No.3 company with City Bank on 25.9.2009. However, thereafter the accused persons avoided to execute sale deed taking a plea that the property did not belong to the company, but to the accused Nos. 1 and 2. When the complainant went to the office of registrar to get sale deed executed and registered, the accused No.1 who had gone there, left the place without getting sale deed executed and registered and thus, the accused persons played a fraud and cheated the complainant. 3. The learned Counsel for the accused/applicants contends that the value of the property is much more than what is shown in the alleged agreement and that is why it is not a real transaction and the property does not belong to the company, but to the accused Nos. 1 and 2. Anyhow, prima facie, it appears that 3 ABA-820-11.sxw accused Nos. 1 and 2 had cheated the complainant and made him to enter into the contract for sale and to pay amount of Rs.1.4 crore in its loan account with City Bank. Period of two years has passed thereafter. According to the learned Counsel for the applicants, it is a civil dispute. Possibly, the complainant may have the remedy in the Civil Court also but at the same time prima facie criminal case is also made out. The learned Counsel for the applicants/accused after taking instructions makes a statement that the applicants are willing to deposit amount of Rs.1.5 crore within two weeks to show their bonafides and this would include not only the principal amount but interest at the market rate also. Taking into consideration the nature of dispute, in my opinion, custodial interrogation of the applicants may not be necessary. 4. Therefore, subject to the applicants depositing amount of Rs.1.5 crore with the trial Court within two weeks from this day, in the event of arrest in Crime MECR No.09/2011, the applicants shall be released on their executing P.R. of Rs. 25,000/- each with one or two sureties to make up that amount with condition that they shall make themselves available to police for interrogation and they shall also produce all the relevant documents and material which may be called by the police. In case, the amount of Rs.1.5 crore is not deposited within two weeks from this day, this Anticipatory Bail shall automatically stand cancelled. 4 ABA-820-11.sxw 5. The trial Court may pass appropriate order after hearing the concerned parties either to keep the amount in fixed deposit or to pay the same to the complainant on such conditions as it may find appropriate. (J.H.BHATIA,J.)