Mumbai, October 11, 2024 – In a notable decision, the Designated Court under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act (MPID Act) has granted bail to Imran Mohammed Rafiq alias Imran Rafiq Mondal, 22, in a case involving alleged financial fraud. Mondal, identified as Accused No. 12, was arrested in connection with Crime No. 76 of 2024, initially registered at Arey Sub Police Station and later transferred to DCB CID Unit XII.

The case involves offenses under Sections 316(2), 318(4), and 3(5) of The Bhartiya Nyay Sanhita (BNS), along with Section 66(C) of the Information Technology (I.T.) Act and Section 3 of the MPID Act.

The prosecution’s case, presented by Ld. APP Ms. Panshikar, alleges that Mondal, working as a telecaller on a commission basis, along with other telecallers, invited the informant and other investors to deposit ₹1,475 each online into a bank account of a “Financial Establishment” (F.E.) with the assurance of disbursing a loan. The informant reportedly deposited the amount twice but never received the promised loan, leading to the lodging of a complaint. The investigation revealed that other investors were also allegedly cheated by the F.E. Police conducted a raid, seizing mobile phones, laptops, and four desktop computers, and arrested a total of 24 accused in the case.

Ld. Adv. Manish Kanojia, representing Mondal, argued that his client was merely a telecaller working on commission and had no role in luring or inducing investors. He contended that Mondal was simply obeying the orders of Accused No. 1 (the proprietor) and Accused No. 17 (the manager) of the F.E. Mr. Kanojia asserted that, even if the allegations were taken as true, the sections of the BNS and MPID Act cited would not apply to Mondal, given his limited role as an employee. He also stated that Mondal’s continued detention was unnecessary for the investigation and that he was willing to cooperate.

The prosecution, instructed by the investigating officer, maintained that Mondal’s involvement was prima facie evident as he made phone calls to investors, insisting they deposit money. They expressed concern that if released on bail, Mondal might change passwords to email accounts containing investor data, thereby tampering with evidence.

However, after considering the submissions and perusing the record, His Honour the Special Judge Shri N.G. Shukla observed that it was undisputed that Mondal worked as a telecaller on a commission basis or as a salaried employee. The court noted that Accused No. 1 was the proprietor and Accused No. 17 was the manager of the F.E., and Mondal was working under their direction.

The court concluded that “even though applicant would have made phone calls to the investors, applicant had no any personal dishonest intention to lure and induce investors for depositing their money. Applicant was acting on the direction and instructions of proprietor and director of the F.E.” Therefore, the judge found that prima facie, Sections 316(2) and 318 of BNS, as well as Section 3 of the MPID Act, would not attract against Mondal.

Given that Mondal’s mobile phone, as well as laptops and desktop computers from the F.E.’s office, had already been seized, the court saw no need for his further detention. The judge stated that conditions could be imposed to ensure cooperation and prevent evidence tampering.

Imran Mohammed Rafiq alias Imran Rafiq Mondal has been granted bail upon executing a personal bond of ₹30,000/- with one surety of the like amount.

The bail is subject to the following stringent conditions:

• Mondal must attend the DCB CID unit office on October 14, 16, and 18, 2024, between 10:00 AM and 1:00 PM, and thereafter as and when called by written notice from the investigating officer, cooperating fully with the investigation.
• He must provide passwords of email accounts used in the company’s office to the investigating officer and not change these passwords or tamper with data in his seized mobile phones, laptops, and computers.
• He is prohibited from leaving India without prior court permission.
• He must deposit his passport with the investigating officer within two weeks of his release, or file an affidavit if he does not possess one.
• He must submit proof of his residential address and contact mobile numbers, as well as the residential addresses and contact mobile numbers of two close relatives, to the investigating officer within two weeks of his release, and update this information if it changes.
• He must not threaten or influence any prosecution witnesses or hamper further investigation.

Additionally, Mondal is permitted to furnish a cash security of ₹30,000/- in lieu of a surety for a period of four weeks. The court also directed that the cash bail amount be accepted even after treasury hours.

The Bail Application No. 810 of 2024 stands disposed of.