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Bail Appl. No. 42/2018
IN THE COURT OF SPECIAL JUDGE FOR C.B.I.
FOR GREATER BOMBAY AT MUMBAI
BAIL APPLICATION NO. 42 OF 2018
IN
REMAND APPLICATION NO. 40 OF 2018
(R.C. No. 14/E/2017CBI, EOW, Mumbai)
RAMESH MADAN PATEL,
Aged 42 years, Occupation : Business,
Having address at Flat No. 121,
Building No. 7, Jai Vikrant Coop.
Hsg. Soc., Shell Colony Road No. 4,
Chembur (E), Mumbai400 071.
Applicant/
Orig. Accused
V/s.
THE STATE OF MAHARASHTRA,
(Through CBI, EOW, Mumbai.)
Respondent/
Complainant
CORAM :
H.H. THE SPECIAL JUDGE,
SHRI. JAYENDRA C. JAGDALE,
(C. R. No. 51).
DATED :
22nd January, 2018.
Mr. Jadhav, Ld. Advocate for the applicant/orig. accd.
Mr. J. K. Sharma, Ld. S.P.P. for the CBI/EOW/Respdt.
ORAL ORDER
1
This is an application placed by the applicant/original
accused Ramesh Madan Patel for bail u/sec. 439 of the Code of
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Bail Appl. No. 42/2018
Criminal Procedure against whom the offences punishable u/sec.
120(B) r/w 406, 409, 420, 465, 467, 468 & 471 of Indian Penal Code
and u/sec. 13(1)(d) & 13(2) of Prevention of Corruption Act have been
registered by CBI vide R.C. No. 14/E/2017CBI, EOW, Mumbai.
2
Heard arguments advanced by Ld. Advocate for the
applicant/original accused and Ld. S.P.P. for the CBI/Respondent. The
Ld. Advocate for applicant/accused has reiterated the contents of
application. The prosecution has raised objection to grant prayer in the
application. It has given say on the application. I have perused the
application
and
applicant/accused.
documents
produced
on
behalf
of
the
I have also perused the say given by the
prosecution.
3
The applicant/accused has contended that there is no any
transaction
between
applicant/accused.
the
original
complainant
and
the
The money is credited into the account of
applicant’s firm i.e. M/s. Krishna Fashion World from M/s. Aashish
Communication Systems because there was civil transaction in between
them and civil litigations pending. The entire investigation depends
upon the documents and the same are filed before the Hon’ble Bombay
High Court, therefore physical custody of the applicant/accused is not
warranted.
There
is
nothing
on record
to
show
that
the
applicant/accused was aware that M/s. Aashish Communication
Systems
has
cheated
the
original
complainant
applicant/accused is not the beneficiary in the crime.
bank.
The
The amount
received by the applicant/accused is due to the business transactions
between the applicant/accused and M/s. Aashish Communiciation
Systems. The applicant/accused is not the prime accused in the alleged
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crime.
Bail Appl. No. 42/2018
Hence, the applicant/accused has prayed to allow the
application.
4
The prosecution has contended that on 29/07/2011 Shri.
Ashok Kumar Singh through M/s. Ashoka Property Developers has
applied for the overdraft facility of Rs. 2 crores under the Cent
Mortgage Scheme to the Central Bank of India, Peddar Road Branch,
Mumbai.
The same was sanctioned vide sanction letter dated
05/08/2011 issued by the branch on the basis of documents submitted
and the collateral security furnished.
His wife Smt. Philomino Dias
stood as a guarantor for the said overdraft facility. Three properties
were mortgaged as collateral security, of which two stood in her name
and one stood in the name of Shri. Ashok Kumar Singh. The overdraft
facility was fully availed by him, but he did not repaid the bank as per
the terms of sanction. As per the procedure, the account was classified
as NPA on 29/12/2014, on which date the outstanding amount was Rs.
2,09,44,621/. Thereafter again on 07/10/2011 Shri. Aashish Kumar
Singh, the son of Smt. Philomina Dias, through M/s. Aashish
Communication Systems has applied for the overdraft facility of Rs.
2.75 crores under the Cent Trade Scheme to the Central Bank of India,
Tardeo Branch, Mumbai. The same was sanctioned vide sanction letter
dated 29/11/2011 issued by the branch on the basis of documents
submitted and the collateral security furnished. Smt. Philomina Dias
stood as a guarantor for the said overdraft facility also. Four properties
were mortgaged as collateral security, of which three stood in the name
of Smt. Philomina Dias and one stood in the name of her husband Shri.
Ashok Kumar Singh. The overdraft facility was fully availed by Shri.
Aashish Kumar Singh, but he did not repaid the bank as per the terms of
sanction. As per the procedure, the account was classified as NPA on
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Bail Appl. No. 42/2018
27/09/2013. During the inquiry into the matter, the bank found that
the documents produced by them were forged and fabricated. There
were no such firms bearing those names and membership numbers.
Thereafter again they both have availed different kind of loans from the
bank and in all Rs. 17 crores were availed by them.
The
applicant/accused is the direct beneficiary of amount of Rs.
1,42,56,275/ from the account of M/s. Aashish Communication
Systems with complainant Central Bank of India, owned by wanted
accused Shri. Aashish Kumar Singh.
The applicant/accused is in
business of readymade garment, while borrower M/s. Aashish
Communication Systems is in business of electronic and software.
There is no civil transaction in between M/s. Aashish Communication
Systems and M/s. Krishna Fashion World. As per the available record,
on the contrary there is civil suit pending in between M/s. Krishna
Fashion World and M/s. Flextough Metals Pvt. Ltd., owned by wanted
accused Shri. Mehul @ Sadashiv D. Pandey and Shri. Janardhan D.
Pandey vide Summary Suit (L) No. 345/2014. The applicant/accused
do not have any business transactions with borrower M/s. Aashish
Communication Systems.
Inspite of that, there is huge amount
transferred from M/s. Aashish Communication Systems to M/s. Krishna
Fashion World. The said crime proceed money was not returned by him
and he is the ultimate beneficiary. Hence, the prosecution has prayed
to reject the application.
5
It has been alleged that the applicant/accused Ramesh
Madan Patel is a direct beneficiary of siphoned off amount of Rs.
1,42,56,275/.
It
has
been
contended
on
behalf
of
the
applicant/accused that there was a civil dispute between the present
applicant/accused and another accused Shri. Janardhan Pandey.
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Bail Appl. No. 42/2018
However, the process of investigation against the role of present
applicant/accused is going on. Moreover, the amount involved in the
said fraud case is huge.
Apparently, at this stage, releasing the
applicant/accused on bail may hamper further investigation. Moreover,
the police machinery is still searching for some absconding accused.
Therefore, it is not safe to release the applicant/accused on bail. In the
result, the application deserves to be rejected.
Accordingly, in the
interest of justice, I proceed to pass the following order :
ORDER
1
Bail Application No. 42/2018 in CBI Remand Application
No. 40/2018 (RC No. 14/E/2017C.B.I., E.O.W., Mumbai) is hereby
rejected.
2
Bail Application No. 42/2018 in CBI Remand Application
No. 40/2018 stands disposed of accordingly.
(Order dictated and pronounced in open court.)
(Jayendra C. Jagdale)
The Special Judge for CBI,
City Civil & Sessions Court,
Gr. Bombay.
Dated : 22/01/2018
Dictated on
Transcribed on
Signed on
Delivered to Certified
Copy Section on
: 22/01/2018
: 23/01/2018
: 23/01/2018
:
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Bail Appl. No. 42/2018
“Certified to be true and correct copy of the original signed
judgment/order”.
Upload Date & Time : 23/01/2018 at 4.25 p.m.
Smt. G. K. Kotawadekar
Name of the Stenographer
H.H.J. SHRI. JAYENDRA C. JAGDALE (C. R. No. 51)
Date of pronouncement of judgment/order :22/01/2018
Judgment/order signed by the P.O. on :23/01/2018
Judgment/order uploaded on :23/01/2018