Mumbai, Maharashtra – In a significant development, the Sessions Court for Greater Bombay, presided over by Additional Sessions Judge Shri U.M. Padwad, has granted bail to M/s. NETC & Company and its authorized representative, Riyaz Shaikh, in Bail Application No. 671 of 2022. The order, dated April 4, 2022, stems from Criminal Appeal No. 503/2021, which arises out of C.C. No. 1332/SS/2017.

The applicants, M/s. NETC & Company, with its office in Margao, Goa, and Riyaz Shaikh, a businessman from Goa, were granted bail after the substantive sentence passed against them was ordered to be suspended by a separate court order.

Bail Conditions and Rationale

The court has directed that the accused be released on a Personal Bond (P.B.) and Surety Bond (S.B.) of Rs. 25,000/- each. This bond must be furnished within two weeks from the date of the order. The court specifically noted that this condition was imposed considering that the accused had remained out of reach for approximately two years and are not residents of Maharashtra.

The order provides flexibility for the accused, allowing them liberty to furnish bail either before the Sessions Court or before the learned trial Court.

Furthermore, the court has permitted a provisional cash bail in the like sum (Rs. 25,000/-). However, a crucial condition attached to this provisional bail is that it shall stand forfeited without any separate order if the accused fails to furnish the surety within four weeks from the date of their release.

The bail order is also subject to compliance with the order in Miscellaneous Application No. 530/2022, in what the court described as “the peculiar circumstances of the case.” The specific details of this miscellaneous application were not elaborated in the bail order.

Advocate Mr. P.V. Vare represented the applicants, while Advocates Mr. Kotharw with Mr. Sao appeared for the respondent, Sudhir s/o Amritlal Kotak.

The order was signed by Additional Sessions Judge U.M. Padwad on April 5, 2022, and uploaded on the same day.

---