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Order in BA no. 2/23
MHCC020000572023
BEFORE THE DESIGNATED COURT UNDER M.P.I.D. ACT
CITY CIVIL & SESSIONS COURT, MUMBAI
BAIL APPLICATION NO.2 OF 2023
1. Indreshkumar Ravishankar Pasi,
residing at Room 407, Shri Sai Ganesh Building,
Jawahar Nagar, Goregaon (West),
Mumbai 400 062.

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2. Irfan Iqbal Danawala
Age : 49 years,
residing at B/401, 4th Floor, Blossom Park,
Opp. Farook School, S. V. Road,
Jogeshowari (w), Mumbai­400 062.

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3. Zahid Xavier Shaikh @ Mohammed Zahid ]
Xavier Shaikh
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Age : 43 years,
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residing at B­301, Asmita Elegance CHSL,
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Station Road, Near Asmita Club,
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Mira Road (East), Thane 401 107.
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4. Shreeju Valsan Panickar
Age : 32 years,
residing at 804, Building 58/D,
Ashtavinayak (D) CHS Ltd.,
New MHADA Tower, Kandivali (West),
Mumbai­400 095.

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5. Isaivannan Kumar
Age : 27 years,
residing at Room No. 48, 2nd Floor, B Wing,
Gandhi Nagar CHS Ltd.,
Sant Kakkaya Marg, Dharavi, Mumbai­400 017.

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6. Ankush Sanjay Sharma
Age : 26 years,
residing at Rammurath Vikrama Pasi Chawl,
Mulgaon Dongri, Old Ashram,
Andheri East, Mumbai­400 093.

Order in BA no. 2/23
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Applicants/
Accused
Versus
The State of Maharashtra
(At the instance of EOW, DCB CID, Zone XI,
Kandivali)
Appearances:­
Ld. Advocate Yusuf Iqbal for the Applicant.
Ld. SPP V. C. Malankar for the State/ Respondent.

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CORAM : HIS HONOUR JUDGE
SHRI S. M. TAPKIRE
(Court Room no. 7)
DATED : 13th January, 2023.
ORAL ORDER
1.

This is an application under Section 439 of The Code of
Criminal Procedure, 1973 preferred by the applicants/accused no.04 to
09 to have liberty to them in connection with the crime vide C.R.
No.317 of 2022 registered with respondent /EOW (C.R.No. 1129 of
2022 dated 27.12.2022 registered with Goregaon Police Station) for the
offences punishable under Sections 3, 419, 420 r/w Section 34 of
Indian Penal Code, 1860 as well as Sub­Sections 66(c) (d) of
Information and Technology Act, and Sections 3 with 4 of The
Maharashtra Protection of Interest of Depositors (In Financial
Establishments) Act, 1999 (hereinafter referred as “MPID Act”).
2.

The Respondent/EOW has strongly opposed to the bail plea
of applicants by filing their written say at Exhibit No.02.

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3.

Order in BA no. 2/23
Perused the application coupled with respondent’s say,
documents placed reliance by the rival parties and especially copy of
charge­sheet and documents annexed with it. Heard, Ld. Advocate
Yusuf Iqbal for the Applicants and Ld. SPP V. C. Malankar for State/
Respondent.

4.

Taking into consideration, rival submissions, contentions
and availed record prima facie inclined in impugned crime in all 10
accused are implicated. The accused no.4 to 9 are arrested on
27.12.2022. The informant Police Constable Sachin Yashawant Gavas
deputed in EOW Unit­11, Mumbai has raised plea allegations grievance
that they have received information from secret informant about fake
call center and there from used to make phone calls to NRI by saying
they are calling from Mauritius and instigating them to invest the
money in their Financial Establishment and directed to transfer the
amount in the account of fake Financial Establishment. Thereby, the
team of EOW has raised the trap and upon raiding on said call center
thereat informed by the Senior HR Manager Madhavi D’souza about the
name of owner of call center i.e. accused no.1 Aditya Maheshwari,
accused no.2 Giriraj Damani. Thereby, upon asked the documents in
regard to the authenticity of said call center, they have inclined without
having legal permission for availing installment amount just relying on
the agreement with SECURCAP SECURITIES Limited. They used to
promote instigate to investors through the Internet calls and providing
information for making deposits in said Financial Establishment.
Moreover, the said space of call center was hired by them and owner of
said premises was Prakash Dandavate and Sagar Dandavate. By such
illegal activities they have get availed the deposits amount in all
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Order in BA no. 2/23
Rs.66,59,600/­. In said fake call center the applicants were used to
provide information for investing money by making phone calls.
Allegedly they are employees of accused no.1 to 3. Further, alleged that
though the applicants were having clear sufficient knowledge with
regard to the impugned ultra virus act. However, they in furtherance of
their common intention with other accused involved in impugned crime
by prompting instigating lured deceived to the investors for depositing
their money. Thereby, raised the impugned crime.
5.

The applicants in regard to raised allegations against them
come with the case that they are just and merely employees of the
alleged Company One 721 Global Services Pvt. Ltd. However, the Police
Commissioner has malafidely arrested to them but not arrested to the
accused no.1 to 3 allegedly they are owner, handler, Director and
Manager of said Company. Whatever, allegations, plea, grievance raised
the same is absolutely false frivolous and dubious. In fact no any
specific clear exact plea allegations leveled against any of the applicant
in regard to their actual involvement participation or clear role
attributed by any else in said One 721 Global Services Pvt. Ltd. There
were 25 female and 40 male colleagues of applicants were serving in
said Company. Even on them served notices under Section 41­A of
Cr.P.C. and release them. However, the Police Commissioner has only
inquired with applicants and arrested them. Also submitted that upon
cautiously considered the raised allegation plea grievances against the
applicants prima facie would reveal against them no any offence made
out or constitute by any manner. Even no any investor or depositor has
raised any allegations against any of the applicant. Moreover, the
alleged Financial Establishment namely SECURCAP SECURITIES
Limited, he is having base in State of Mauritius. Thereby, neither any
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Order in BA no. 2/23
investor nor the alleged Financial Establishment establish or residence
of Maharashtra. Thereby, prima facie crystallize for the offences under
Sections 3 with 4 of MPID Act neither constitute nor made out by any
manner. Further more though the charge of offences under Sections
66(c) and 66(d) of Information Technologies Act coupled with IPC
leveled. However, it crystally clear that the said offences cannot be
charged along with IPC in view of settled law. In that respect it would
transpire the Investigating Agency has falsely raised the offences under
Sections 66(c) and 66(d) of Information Technologies Act. As per
written objection of respondent/ EOW it would reveal the certain
devices electronic equipment even concern documents are already
collected and recovered. While police custody remand nothing
discovered or recovered seized from any of the applicant. The main
culprit i.e. accused no.1 to 3 are yet to be detected and arrested.
Thereby, in such eventualities there is no any considerable cause reason
ground for further custodial detention of any of the applicant for any
purpose. They also raised general grounds.
6.

The applicants in support to their submission, plea
grievance placed reliance on the following decisions of Hon’ble Apex
Court and Hon’ble Bombay High Court :
1. Sharat Babu Digumarti Vs. Govt. of NCT of Delhi reported in
SC­Cri Appeal No.1222 of 2016
2. Gagan Harsh Sharma & Anr. Vs. State of Maharashtra & Anr
reported in Criminal Writ Petition No.4361 of 2018
3. Amesh Kumar Vs. State of Bihar & Anr. reported in SC Cri
Appeal No. 1277 of 2014
4. Chanda Deepak Kochhar Vs. Central Bureau of Investigation
reported in Criminal Writ Petition (L) No.22494 of 2022 a/w
Criminal Writ Petition (L) No.22495 of 2022
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Order in BA no. 2/23
5. Maharashtra Hybrid Seeds Company Ltd. Vs. State of
Maharashtra reported in Criminal Application (APL) No.346
of 2015
6. Md. Ibrahim & Ors. Vs. State of Bihar & Anr. reported in
Criminal Appeal No.1695 of 2009
7. Padma Jain and Others (Smt) Vs. State of Uttar Pradesh and
Anr reported in 2016 (2) ADJ 308
7.

The Respondent / EOW has strongly opposed to the bail
plea of applicants principally on the ground that the every applicant is
main participant and involver in committing the impugned crime.
Moreover, they were actively participated and involved in impugned
crime by conducting the fake call center from which making dubious
calls to investors by dishonestly deceiving them for attracting to deposit
to invest their sum in the Financial Establishment which is not
established in Maharashtra or India. Thereby, the master mind of crime
would have succeeded to get availed investment amount from huge
investors and their investment amount of Rs.66,59,600/­. Many of the
investors have clarified about deceived cheated to them from applicants.
In regard to impugned crime they have seized various devices electronic
equipment and articles. Certain documents are also discovered and
seized. The main accused Aditya Vikram Maheshwari and Giriraj
Damani are yet to be detected and arrested. Prima facie the
involvement active participation and attribution of role by each
applicant inclined and clarified by the documentary evidence.
Therefore, as sufficient evidence is availed against them certainly they
have not deserved to have liberty. They also raised general objections.
8.

In above such circumstances cautiously having into
consideration, rival submissions, contentions availed record prima facie
inclined in impugned crime in all 10 accused are involved, the accused
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Order in BA no. 2/23
no.1 to 3 are allegedly the Managing Director, Director and Manager of
Financial Establishment One 721 Global Services Pvt. Ltd. Against the
applicants raised plea grievances allegations that they are employee of
the said entity One 721 Global Service Pvt. Ltd. and doing the job on
remuneration. The applicants are arrested on 27.12.2021 and
remanded under the police custody till 02.01.2023. It reveals while
their police custody nothing discovered recovered seized from any else.
It is alleged against them that they all were by Internet calls made to
the NRI giving information for investment in their Company. Thereby,
prompting instigating and lured them to get investment amount in the
fake dubious Financial Establishment. It is alleged by one agreement in
between accused no.1 and 2 and the Financial Establishment
SECURCAP SECURITIES Limited which is based by State of Mauritius
all the accused by common intention dishonestly deceiving cheating to
the investors. Therefore, the applicants are also involver participants of
impugned crime by as they used to get availed investment amount
through the net banking. By such circumstance and nature of
allegations prima facie revealed the applicants are arrested just they are
being employees of said Financial Establishment One 721 Global
Services Pvt. Ltd. and were making calls to investors. It also inclined
that the applicants are paid salaried employee. Thereby, in fact they are
not beneficiary of any of the deposit amount. The record shows the
impugned complaint raised by the police constable against the accused.
The material relevant plea and grievances against the applicants that
they were doing job in unauthorized call center except that nothing
there. The Investigating Agency while investigation detected seized the
certain
devices
electronic
equipment
articles.

Moreover,
some
documents are also collected and seized by them. In view of allegations
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Order in BA no. 2/23
grievances raised against the applicants coupled with the objection of
respondent/EOW prima facie nothing cognizable considerable reliable
inclined in view of further custodial detention any of the applicant for
indefinite period. Moreover, I felt in view of allegations leveled against
applicants and nature of objection of respondent it would appropriate to
have liberty to them by saddling stringent conditions. Hence, I am
inclined to have liberty to applicants subject to following conditions.
With this passed following order :­
ORDER
1. The present Bail Application No.2 of 2023 is hereby allowed, subject
to following conditions by applicants :­
i. The applicant no.1 Indreshkumar Ravishankar Pasi, applicant no.2
Irfan Iqbal Danawala, applicant no.3 Zahid Xavier Shaikh @
Mohammed Zahid Xavier Shaikh, applicant no.4 Shreeju Valsan
Panickar, applicant no.5 Isaivannan Kumar, applicant no.6 Ankush
Sanjay Sharma be released on executing a PR Bond of Rs. 5,00,000/­
(Rupees Five Lakhs Only) with furnishing one or two solvent sureties
in the like amount by each applicant in the event of their arrest in
crime vide C.R. No.317 of 2022 registered with EOW (C.R.No.1129
of 2022 dated 27.12.2022 registered with Goregaon Police Station,
Mumbai) for the offences punishable under Sections 419, 420 r/w
Section 34 of Indian Penal Code, 1860 as well as Sub­Sections 66(c)
(d) of Information and Technology Act, and Sections 3 with 4 of The
Maharashtra Protection of Interest of Depositors (In Financial
Establishments) Act, 1999.
ii. The applicants shall not tamper or hamper the prosecution witnesses
and evidence as well as pressurize to any of the prosecution witness
by any manner.
iii. The applicants shall attend the every date of trial without fail.
iv. The applicants shall co­operate in investigation, as and whenever
required for interrogation, they shall avail for the same.
v. The applicants shall not leave India without prior permission of
Court.

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Order in BA no. 2/23
vi. The applicants shall submit their proper considerable residential
address proof as well as telephone and cell numbers with
respondent/EOW in view of their contact.
vii.The applicants shall submit their passport with respondent /EOW if
any availed with them.
viii. The applicants shall not indulge in any criminal activity.
ix. The applicants are directed to record their presence with the
Respondent / Investigating Agency on every Wednesday between
11.00 a.m. to 5.00 p.m. until submission of charge­sheet.
x. In case of disobedience or breach of any saddled condition by
applicants, this order will liable to be canceled.
3.

Accordingly, Respondent/EOW to take the note of this order.

4.
The present Bail Application No.2 of 2023 stands disposed of
accordingly.
(Dictated and pronounced in the open Court.)
Digitally signed by
SHRIRAM
MADHUKAR TAPKIRE
Date: 2023.02.09
15:04:46 +0530
Date : 13.01.2023.
Dictated on
: 13.01.2023.
Transcribed on : 27.01.2023.
Signed on
: 09.02.2023.

( S. M. Tapkire)
Addl. Sessions Judge,
City Civil & Sessions Court, Mumbai.

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Order in BA no. 2/23
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT /ORDER”
On 09.02.2023 at 3.00 p.m.
UPLOADED DATE AND TIME
Mrs. G. P. Acharekar
NAME OF STENOGRAPHER
Name of the Judge (with Court Room no.)

H.H.J. S. M. Tapkire
C.R. No.07
Date of Pronouncement of Judgment/Order
13.01.2023
Judgment /Order signed by P.O. on
09.02.2023
Judgment/Order uploaded on
09.02.2023