The Court of Sessions for Greater Bombay has granted bail to Dev Kumar Kshatri (31), a resident of Bilaspur, Chhattisgarh, who was arrested in connection with a cyber fraud involving inducement to invest in the share market. The order, issued by H.H. Additional Sessions Judge V. M. Sundale on April 20, 2024, in Criminal Bail Application No. 941 of 2024, found that the applicant’s continued custodial detention was unwarranted since the investigation related to him appeared complete.
Case Details and Allegations
- Applicant: Dev Kumar Kshatri, S/o Raj Kumar Kshatri.
- Case: C.R. No. 162/2024 registered with BKC Police Station, Mumbai.
- Offences: Sections 419, 420, 465, 468, 471 r/w 34 of the IPC (Cheating, Forgery, etc.) and Sections 66(c) and 66(d) of the IT Act, 2000 (Cyber Offences).
- Core Allegation: The applicant and a co-accused allegedly created WhatsApp groups and induced the informant and others to invest huge amounts in the share market by assuring massive profits, thereby cheating them.
Prosecution’s Opposition
The prosecution, through Ld. APP Ms. Ratnavali Patil, strongly opposed the application, arguing:
- The offense is serious, and the investigation is still in progress.
- The co-accused is absconding, and the amount involved in the crime is yet to be recovered.
- Releasing the applicant could lead to him pressurizing witnesses, committing similar offenses, or fleeing from justice.
Court’s Rationale for Granting Bail
Judge Sundale meticulously reviewed the records and the submissions, highlighting several factors that favored the applicant’s release:
- FIR Absence: The applicant’s name was not mentioned in the original FIR, which was registered against unknown persons. His involvement was identified later through bank account tracing.
- No Recovery: The applicant was arrested on March 30, 2024, and underwent sufficient police custody, yet “nothing could be recovered from the applicant” at his instance.
- Limited Role: While a portion of the cheated amount was transferred to the applicant’s account, the Court observed that the “main allegations of cheating and forgery are against co-accused.”
- Evidence Secured: The Court noted that the applicant’s bank account is already debit freezed, and his presence is “not necessary for any recovery or discovery.”
- No Criminal Antecedents: Nothing was placed on record to suggest the applicant has any past criminal history.
The Judge concluded that it would not be proper to keep the applicant behind bars for an indefinite period, especially since the apprehension of the investigating officer could be addressed by imposing stringent conditions.
Bail Conditions
The Criminal Bail Application No. 941 of 2024 was allowed. Dev Kumar Kshatri was released on bail upon executing a P.R. Bond of ₹25,000/- with one or two sureties of the like amount.
Key conditions included:
- Reporting: The applicant must attend the BKC police station once a week (every Monday between 11:00 a.m. to 1:00 p.m.) until the charge-sheet is filed.
- Provisional Cash Bail: Cash bail was allowed for four weeks to allow time for arranging solvent sureties.
- Non-Tampering: He shall not threaten or pressurize any person acquainted with the case.
- Travel Restriction: He shall not leave India without the Court’s prior permission.