A special court in Greater Mumbai has granted bail to Ganesh Raju Mohite (18) and Umesh Babu Vagh (21), who were arrested in connection with a financial fraud case. The duo, employed as telecallers, were accused of luring investors to deposit money online with the promise of disbursing loans, an assurance that was never fulfilled.
Case Overview
The applicants were arrested in Crime No. 76 of 2024 (initially registered as Crime No. 144 of 2024 at Arey Sub Police Station) for offenses under Sections 316(2), 318(4), and 3(5) of The Bhartiya Nyay Sanhita (BNS), read with Section 66(C) of the Information Technology (IT) Act, and Section 3 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act (MPID Act). The Economic Offences Wing (EOW) had filed a reply opposing their bail.
The prosecution’s case stated that the applicants, along with other telecallers, induced the informant and other investors to deposit ₹1,475 each online into a bank account belonging to a “Financial Establishment.” The informant deposited the amount twice but never received the promised loan, leading to a police report against the Financial Establishment. A total of 24 accused were arrested, and mobile phones, laptops, and desktop computers were seized from the office during a raid.
Arguments for and Against Bail
Defense Arguments (Ld. Adv. Abhishekh Mishra):
- The applicants were merely telecallers working on a commission basis.
- They had no direct role in “luring and inducing” investors and were simply obeying the orders of accused Nos. 1 (proprietor) and 17 (manager) of the Financial Establishment.
- Prima facie, the offenses under Sections 316 and 318 of BNS and Section 3 of the MPID Act would not apply to them given their limited role.
- Their continued detention for investigation was unnecessary, and they were ready to cooperate with the investigating agency.
Prosecution Arguments (Ld. APP. Ms. Chaitrali Panshikar):
- The applicants, as telecallers, made phone calls and insisted that investors deposit money, thereby establishing their prima facie involvement.
- If granted bail, they might change email account passwords where investor data is stored, potentially tampering with prosecution evidence.
Court’s Decision
After considering the submissions and reviewing the records, Designated Judge under MPID Act, Shri N.G. Shukla, noted that it was undisputed that the applicants were employees (either on commission or payroll) acting under the direction of the proprietor and manager of the Financial Establishment. The court observed that even if the applicants made phone calls to investors, they did not appear to have a “personal dishonest intention” to defraud.
The judge concluded that, prima facie, Sections 316(2) and 318 of BNS, as well as Section 3 of the MPID Act, would not apply directly to the applicants, given their role as employees working under instructions.
Since the police had already seized their mobile phones, laptops, and desktop computers from the office, the court found that further detention was not required. The judge deemed this a “fit case to grant bail” to the applicants as they were employees acting under the directions of the Financial Establishment’s proprietor and manager.
Bail Conditions
The court granted bail to Ganesh Raju Mohite and Umesh Babu Vagh, subject to the following stringent conditions:
- Personal Bond & Surety: Each applicant must execute a personal bond of ₹30,000/- (Rupees Thirty Thousand Only) with one surety of the like amount. They are permitted to furnish cash security of ₹30,000/- in lieu of surety for four weeks.
- Cooperation with Investigation:
- They must attend the office of DCB CID Unit on October 14, 16, and 18, 2024, between 10:00 AM and 1:00 PM.
- Thereafter, they must appear as and when called by written notice from the investigating officer and cooperate fully in the investigation.
- Data Access and Integrity: They must provide passwords for email accounts used in the company office to the investigating officer and not change these passwords. They are also prohibited from tampering with data in their seized mobile phones, laptops, and computers.
- Travel Restrictions: They shall not leave India without prior court permission.
- Passport Deposit: They must deposit their passports (or file an affidavit if they don’t possess one) with the investigating officer within two weeks of their release.
- Contact Information: Within two weeks of release, they must submit proof of their residential address, contact mobile numbers, and the residential addresses and contact numbers of two close relatives to the investigating officer, and update these details if they change.
- No Tampering/Influence: They shall not threaten or influence any prosecution witnesses or hamper further investigation.
Bail Application No. 802 of 2024 stands disposed of accordingly.