The LXXI Additional City Civil and Sessions Judge in Bengaluru has granted bail to Manish Keshwani, a 28-year-old businessman accused of defrauding an investor of crores of rupees and committing theft and assault. The court, presided over by Smt. K.S. Jyothishree, ruled that custodial interrogation was no longer necessary as the primary phase of the investigation had been concluded by the Yelahanka police.

The legal proceedings involve Manish Keshwani, a resident of Jakkur Plantation in Bengaluru with permanent roots in Jabalpur, Madhya Pradesh. He was arrested on June 6, 2022, following a complaint filed by a woman who had invested heavily in his firm, D.M. Wealth Management. The police had booked Keshwani under multiple sections of the Indian Penal Code, including Section 354 (Assault or criminal force to woman with intent to outrage her modesty), Section 417 (Cheating), Section 420 (Cheating and dishonestly inducing delivery of property), and Section 379 (Theft).

The Case Against Manish Keshwani

The complainant’s narrative paints a picture of a massive financial betrayal. According to the prosecution, the woman sold her property in Shobha City in December 2021 and invested the entire proceeds into Keshwani’s wealth management company. Keshwani had allegedly promised an attractive return of 15 percent interest per annum on her investments, which reportedly began with an initial sum of Rs 16,50,000 in 2020 and grew significantly through 2021.

The situation took a dark turn in March 2022 when Keshwani allegedly told investors that he would sell his ancestral property in Jabalpur to return their funds. However, on June 6, 2022, the complainant alleged that Keshwani assaulted her and committed a brazen theft. She claimed he forcibly took a signed blank cheque, Rs 1.5 Crore in cash, and gold ornaments valued at Rs 13,50,000.

Defense Arguments: Live-in Relationship and Business Losses

During the bail hearing, the counsel for Manish Keshwani, Sri Venkateshappa, presented a starkly different version of events. The defense argued that Keshwani was innocent and that the allegations were a result of a personal fallout. It was disclosed to the court that Keshwani and the complainant were in a live-in relationship, and the defense contended that the criminal charges were filed due to strained personal differences rather than actual criminal acts.

Furthermore, the defense highlighted that the investment transactions began in 2020, but the complaint was only filed in 2022. They argued that the petitioner’s business, like many others, had suffered severe setbacks due to the COVID-19 pandemic, which halted financial operations globally. The defense maintained that Keshwani had never stolen from the complainant and was a victim of a soured relationship.

Judicial Observation and Conditions of Release

The Public Prosecutor opposed the bail plea, asserting that there was sufficient prima facie material to show that the accused had committed serious offenses against the complainant and her property.

However, Judge K.S. Jyothishree observed that Keshwani had been in custody since his arrest on June 6. The court noted that the Investigating Officer had already recorded the statements of witnesses and conducted the mahazar (spot inspection), effectively completing the major portion of the investigation. The court stated that since the involvement of the petitioner is yet to be proven at trial, there was no pressing need to keep him behind bars indefinitely.

The court expressed concern that because Keshwani is a permanent resident of Madhya Pradesh, his presence must be strictly secured for the trial. Consequently, the bail was granted subject to a set of stringent conditions to prevent the accused from absconding or influencing the case.

The judge ordered Keshwani to be released on a personal bond of Rs 1,00,000 with two sureties of a similar sum. The conditions of his bail include:

1. The petitioner must appear before the trial court on every hearing date.
2. He is strictly prohibited from tampering with evidence or threatening any prosecution witnesses.
3. He must mark his attendance at the Yelahanka police station every Monday between 10:00 a.m. and 5:00 p.m. until the final report is filed.
4. He is not permitted to leave the jurisdiction of the court without prior permission.

The court warned that any violation of these conditions would lead to the immediate cancellation of his bail. The case now moves toward the trial phase at the XXX ACMM Court in Bengaluru.