MUMBAI, May 3, 2024 — The Court of Sessions for Greater Bombay has granted regular bail to Aniket Anant More, a cashier accused of a multi-crore embezzlement scheme while employed at a Croma retail store. More was arrested in connection with C.R. No. 478 of 2023, registered at Mulund Police Station, for offences under Sections 408 (Criminal breach of trust by a servant), 420 (Cheating) of the Indian Penal Code, and Section 66(d) (Cheating by personation using computer resource) of the Information Technology Act, 2000.
Additional Sessions Judge Shri V. M. Sundale (Court Room No.27) passed the order on May 2, 2024, releasing the applicant on a Personal Recognizance (P.R.) Bond of Rs. 1,00,000/− (Rupees One Lac) with one or two sureties of the like amount.
Allegations of Misappropriating ₹3.14 Crore via Gift Vouchers
The prosecution alleged that More, while working as a cashier for Infinity Retail Ltd. (Croma Store), exploited a software defect to use gift vouchers to various agents, resulting in the misappropriation of a massive sum totaling Rs. 3,14,91,632/−. The fraud was uncovered after the informant verified CCTV footage and system data related to the gift vouchers.
The investigation further revealed that the accused allegedly:
- Used the vouchers to purchase 66 articles from the Croma showroom for personal use.
- Transferred amounts via UPI ID to different persons.
- Purchased two rooms (No. 410 and 411) in Gaodevi for Rs. 38,00,000/−.
Bail Granted Due to Duration of Custody and Completed Investigation
Ld. APP Ms. Ratnavali Patil strongly opposed the application, citing the seriousness of the offence, the huge amount involved, and the accused’s non-cooperation during police custody. The prosecution argued that the misappropriated amount has not yet been recovered and that releasing the accused could lead to the hampering of further investigation, pressurizing of witnesses, and destroying evidence.
The defense counsel, Shri Sameer P. Nangare, argued that the accused has been in jail since his arrest on October 12, 2023, totaling more than six months.
The Sessions Judge, while acknowledging the huge amount involved, ultimately ruled in favour of granting bail based on the following:
- Completed Investigation: The investigation is “already completed and charge-sheet is filed.”
- Punishment Limit: The key offences under IPC Sections 408 and 420 are punishable with imprisonment for a maximum of seven years and a fine.
- No Criminal Antecedents: Nothing was placed on record regarding the applicant’s past criminal history.
- Duration of Custody: The applicant’s presence is no longer necessary, and keeping him behind bars for an indefinite period is improper.
The court noted that the prosecution’s apprehensions could be addressed by imposing stringent conditions.
Stringent Reporting and Movement Restrictions
To ensure the accused complies with the legal process and does not interfere with the trial, the court imposed the following strict conditions:
- Mandatory Reporting: The applicant is directed to attend the Mulund Police Station once a week on every Monday between 11:00 a.m. and 1:00 p.m. until the filing of the charge-sheet (if it hasn’t been formally accepted by the trial court yet).
- No Tampering: He shall not directly or indirectly make any inducement, threat, or pressurize any person acquainted with the facts of the case.
- Travel Ban: The applicant shall not leave India without the prior permission of the Court.
The court also allowed a provisional cash bail in the like amount (Rs. 1,00,000/−) for four weeks, with the condition that the required surety must be furnished within that period, failing which the cash bail would be forfeited. The order explicitly warned that the breach of any condition shall result in the cancellation of bail.