1
Cr. BA No.850/2024
MHCC020054332024
IN THE COURT OF CITY CIVIL AND SESSIONS AT GRATER BOMBAY
COURT ROOM NO.23
(Presided over by Shri N. P. Tribhuwan, Additional Sessions Judge)
CRIMINAL BAIL APPLICATION NO. 850 OF 2024
Applicant/Accused No.2 :
Dhvanik Atul Bhatt
Age : 31 years, Occu : Tourist Guide,
R/o: Room no.7, 1st floor, Narayanwadi,
88, Khadilkar Road, Near Arya Samaj,
Girgaon, Mumbai.
VERSUS
Prosecution…

The State of Maharashtra
Through Gamdevi Police Station
Mr. Dinesh Jain, Learned Advocate for Applicant.
Mr. Aditya Mehta, Learned Advocate for Intervener.
Mrs. Ranjana Budhwant, Learned APP for the State/respondent.
ORDER
(Delivered on 06/04/2024)
This is an application under Section 439 of Cr.P.C. for
releasing accused Dhvanik Atul Bhatt on bail in Crime No.135/2024
registered with Gamdevi Police Station for offence punishable under
Sections 409, 420, 465, 467, 468, 471 and 120B of Indian Penal Code.
2.

Heard learned Counsel for applicant, learned Counsel for
intervener and learned APP for the State. Perused Bail Application,
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Cr. BA No.850/2024
say/reply and documents.
3.

It is case of prosecution that on 18/01/2024, informant
Monika Wasudev Valecha has given report/complaint in Gamdevi Police
Station. On the basis of her report, the police have registered above
Crime on 09/02/2024. She alleged that she is married and residing
with her husband and children. She has two sisters Kanchan, Age 54
years and Shalini, Age 53 years. Their father viz. Wasudev Hariram
Valecha and mother Shanti Valecha are old aged. As there is nobody to
take their care, they engaged a caretaker Deepak for household work.
4.

Father of informant was doing business of clothes. Due to
old age, he closed the said business. He has deposited amount earned
from the said business in ICICI Bank in joint account. So also, they have
account in Union Bank of India. Her father was handling the said bank
accounts. Due to old age, father of informant was facing problem to
walk. Accused No.1 Ravi Sharma was Relationship Manager in ICICI
Bank, Branch Kemps Corner. Father of informant was in the category of
‘High Net worth Income’, and therefore, the ICICI Bank, Branch Kemps
Corner, Mumbai has appointed the accused No.1 to visit house of father
of informant to take his signatures on required forms in connection with
bank accounts, De-mat account, Fixed Deposit, Insurance, Mutual Fund,
Investments etc. Therefore, accused No.1 Ravi Sharma used to visit the
house of father of informant to take his signatures. He was supplying
copy of bank accounts statement to the father of informant and saying
that there is growth of money in the said accounts. As the father of
informant has trusted accused No.1, he has also given him to handle his
bank account of Union Bank of India. Between January 2019 to January
2024, there was near about Rs.10/-Crore in the said bank account of
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Cr. BA No.850/2024
ICICI Bank. For the purpose of household expenses, they used to
withdraw Rs.40,000/-, Rs.20,000/-, Rs.50,000/- and Rs.25,000/-.
Accused No.1 Ravi Sharma used to look after the said transactions.
5.

Time to time accused Ravi Sharma visited the house of
father of informant and given him gift – TV, Mobile, Watch, Juicer and
Cinema tickets by saying that the said gifts are under the scheme of
ICICI bank. On 12/01/2024 parents of informant were ill and therefore,
they given debit and credit card to informant to purchase the medicine.
When informant tried to withdraw money from ATM, the transactions
declined. Therefore, informant has made phone call to accused Ravi
Sharma. At that time, accused Ravi Sharma told that to withdraw
amount through debit card by saying that he is extending limit of
withdrawal. Thereafter, informant has withdrawn Rs.12,000/- from
ATM but receipt received from ATM was showing balance of Rs.200/- in
the account. Hence, informant has informed the said fact to her father.
Thereafter, informant, her sister Shalini and father went in the ICICI
Bank and inquired about his five-bank accounts. At that time, the bank
staff Ashish Trivedi has checked balance in the said account and found
Rs.9/-, Rs.771/-, Rs.254/-, Rs.144/- and Rs.41/- were balance in their
account.
6.

The Branch Manager Krushnan has told that prima facie
there is fraud by transferring the amount from the bank accounts. He
also told that he will communicate them later on about exact fraud
amount. According to informant, there was Rs.10/-Crore in the said
bank accounts. At that time, Deputy Manager Madhu Kanojiya has told
that accused Ravi Sharma (Relationship Manager) has left the services
prior to 3 months. Informant, her sister and father have received
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Cr. BA No.850/2024
information from the bank that accused No.1 Ravi Sharma and his
friend accused No.2 Dhvanik Bhatt by conspiracy cheated and
misappropriated the said amount near about Rs.9,41,10,985/-.
7.

Learned counsel for applicant/accused No.2 Dhvanik
argued that applicant is innocent and he has been falsely implicated in
this crime. No prima facie case is made out against applicant. An
offences u/Sec. 409, 420 of IPC do not attract to applicant as he is not
public servant, agent, banker or merchant and he was not entrusted
with the property and there is no inducement. Bank statements indicate
that accused No.1 has withdrawn the amount from said accounts and
immediately transferred in account of accused No.1. Applicant/accused
No.2 has no concerned with alleged crime. He is not beneficiary of the
said amount. Remand papers of accused No.1 do not show about
conspiracy with present applicant. Applicant has co-operated the
investigation agency. Accused Nos.1 and 2 are friends from last two
years. Accused No.1 Ravi used to tell to accused no.2 that he has to
achieve the targets given by the Senior officers of the bank.
8.

Learned Advocate of applicant further argued that copy of
bank statements of bank account of accused No.2 filed on record and as
per the entry in the said statements the amount from the bank account
of the informant and her father transferred in the account of accused
No.2 and immediately thereafter the said amount transferred in the
account
of
accused
No.1,
others
and
his
relatives.

Thus,
applicant/accused No.2 is scapegoat.
9.

Learned advocate for applicant has filed application
(Exh.6) with photocopy of the demand draft amounting to Rs.8 lakh
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Cr. BA No.850/2024
dated 3.04.2024 issued in the name of informant/Monika. As per the
reply filed by Investigating Officer, it transpired in the investigation that
Rs.8.5 Crores was transferred in the account of accused No.2 and
subsequently transferred in the account of accused No.1. Accused No.2
has knowledge of the deposit and withdrawal of the said amount
through SMS and OTP of the bank. Inspite of the knowledge, accused
No.2 has not informed the said fact to the bank or police. Accused Nos.1
and 2 are best friends from childhood. Accused Ravi Sharma disclosed
that he has given Rs.25,00,000/- + Rs.15,000/- to accused No.2 as he
has used his bank account for transfer of the amount from the account
of informant and her parents.
10.

Considering the rival submission of parties, it is matter of
record that huge amount mentioned in para supra transferred from the
account of informant, her sisters and her parents in the account of
applicant/accused No.2. Thereafter, the said amount has been
transferred in the account of accused No.1 Ravi Sharma. Prima-facie it
seems that accused No.2 has knowledge of the above transactions.
Thus, prima facie accused No.2 is involved in the commission of the
offence. Accused Nos.1 and 2 have prima faice conspired and cheated
the informant, her sisters and parents. Thus, it seems that present
applicant has played the active role as mentioned in para supra. Huge
amount is involved in this crime. The investigation is in progress and
prosecution has not filed charge-sheet. In view of above facts and
circumstances; grant of bail at this stage of investigation may frustrate
the investigating agency in collecting the useful information and
materials which might have been concealed. Grant of bail particularly in
this type of offence would definitely hamper the effective investigation.
In view of the above facts at this stage, it is not desirable to release
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Cr. BA No.850/2024
applicant/accused on bail. Hence, I pass following order.
ORDER
Criminal Bail Application No.850 of 2024 is rejected.

Date : 06.04.2024.

NITIN
PUNJAJI
TRIBHUVAN
Digitally signed
by NITIN
PUNJAJI
TRIBHUVAN
Date: 2024.04.08
17:39:47 +0530
(N.P. Tribhuwan)
Additional Sessions Judge,
C.R.No. 23, Gr. Mumbai.

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Cr. BA No.850/2024
Direct dictated on : 06.04.2024
Checked on
: 06.04.2024
Signed on
: 06.04.2024
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
08.04.2024 at 5.37 p.m.
UPLOAD DATE AND TIME
Mrs. P.K.More
NAME OF STENOGRAPHER
Name of the Judge (With Court Room HHJ SHRI N. P. TRIBHUWAN
No.)
(C.R.No.23)
Date of Pronouncement of JUDGMENT 06.04.2024
/ ORDER
JUDGMENT/ORDER signed by P.O. on 06.04.2024
JUDGMENT/ORDER uploaded on
08.04.2024