Mumbai, October 8, 2024 – Stephin Tambi (also known as Stephin Thampi Maniamma), a 27-year-old telecaller, has been granted bail by the Designated Court under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act (MPID Act) in Greater Mumbai. The court, presided over by His Honour Judge N.G. Shukla, ruled that while Tambi, an employee of a financial establishment, made calls to investors, he appeared to have acted under the direction of his superiors without personal dishonest intention.
Tambi was arrested in Crime No. 76 of 2024 (initially Crime No. 144 of 2024 at Aarey Sub Police Station), facing charges 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 MPID Act. The BNS and Bhartiya Nagrik Suraksha Sanhita (BNSS) are new criminal laws that came into effect on July 1, 2024, replacing the Indian Penal Code and Criminal Procedure Code, respectively.
Prosecution Alleges Deceptive Practices
The prosecution’s case, presented by the Economic Offence Wing (EOW), alleged that Tambi, working as a telecaller on a commission basis for “Dhansuvidha Finance,” (the Financial Establishment, or F.E.), along with others, invited the informant and other investors to deposit Rs. 1,475 each online with the assurance of disbursing loans. The informant reportedly made two such deposits, but no loan was ever disbursed, leading to a police report against the F.E. The EOW stated that mobile phones, laptops, and desktop computers were seized in a raid on the F.E.’s office, and a total of 24 accused were arrested in the crime.
Defence Highlights Employee Status
Advocate Akkshay Mishra, along with Advocate Ms. Rachana Mahale, argued for Tambi’s bail. They contended that Tambi, as a telecaller working on commission, had no role in “luring and inducing” investors independently. They submitted that he was merely obeying the orders of Accused No. 1 (proprietor) and Accused No. 17 (manager) of the F.E. The defence asserted that even if the allegations were taken at face value, the offences under Sections 316 and 318 of the BNS (pertaining to criminal breach of trust and cheating and dishonestly inducing delivery of property, respectively) and Section 3 of the MPID Act (fraudulent default by financial establishment) would not apply against Tambi. They emphasized that his further detention was unnecessary as he was ready to cooperate with the investigating agency.
Ms. Chaitrali Panshikar, the learned Additional Public Prosecutor (APP) for the State/EOW, opposed the application. She stated that Tambi’s involvement was “prima facie revealed” as he made phone calls insisting on investments. The APP expressed concern that granting bail might lead to Tambi changing passwords of email accounts containing investor data, thereby tampering with prosecution evidence.
Court’s Finding on Intent
After reviewing the submissions and the record, Judge N.G. Shukla acknowledged that Tambi was indeed working as a telecaller on a commission or payroll basis. The court specifically noted that Accused No. 1 (proprietor) and Accused No. 17 (manager) were the superiors, and Tambi was operating under their direction.
The court’s order stated, “Thus, even though applicant would have made phone calls to the investors, applicant had no any personal dishonest intention to lure and induce investors for depositing their money. Applicant was acting on the direction and instructions of proprietor and director of the F.E. Hence prima facie sections 316(2) and 318 of BNS as well as Section 3 of the MPID Act would not attract against the applicant.”
Bail Granted with Strict Conditions
Considering that Tambi’s mobile phone, along with office laptops and desktop computers, had already been seized, the court found it appropriate to grant bail. Judge Shukla ruled that further detention was not required, provided certain conditions were met to ensure cooperation and prevent tampering.
The court allowed Bail Application No. 785 of 2024, ordering the release of Stephin Thampi Maniamma on bail, subject to the following:
- Personal Bond and Surety: He must execute a personal bond of Rs. 30,000/- with one solvent surety of the like amount.
- Police Reporting: He shall attend the office of DCB CID Unit XII on October 11, 14, and 16, 2024, and thereafter as and when called by written notice from the investigating officer, and cooperate in the investigation.
- Password Disclosure & Data Integrity: He must provide passwords of email accounts used in the office to the investigating officer and not change these passwords or tamper with data in his seized mobile phone, laptops, and computers.
- Travel Restrictions: He shall not leave India without prior permission of the court.
- Passport Deposit: He must deposit his passport with the investigating officer within two weeks of his release or file an affidavit if he does not possess one.
- Address and Contact Details: He shall submit proof of his residential address and contact mobile numbers, as well as the residential address and contact mobile numbers of two close relatives, to the investigating officer within two weeks of his release, and update them if changed.
- No Witness Tampering: He shall not threaten or influence any prosecution witnesses and shall not hamper further investigation.
- Cash Security Option: He is permitted to furnish a cash security of Rs. 30,000/- in lieu of surety for a period of four weeks.
The Bail Application No. 785 of 2024 was disposed of accordingly. The order was dictated and pronounced in open court on October 8, 2024, and signed on November 14, 2024, with the judgment uploaded on November 16, 2024.