Bail application by Managing Director of Al Falal Company accused of cheating investors of promised returns under the MPID Act. Court found charge-sheet showed prima facie complicity and flight risk after earlier absconding; bail application rejected.
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(11)-BA-1279-2024.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
CRIMINAL BAIL APPLICATION NO. 1279 OF 2024
Mohammad Shakir Mohammad ... Applicant Nazir Shaikh
V/s.
The State of Maharashtra … Respondent
Mr. Nitin Gaware Patil, for the applicant. Mr. Mohammad Mulla, for the original complainant. Mr. Pandurang Gaikwad, APP, for the Respondent/State. Mr. N.N. Petkar, API, EOW, Solapur City, Present.
Digitally signed by VARSHA VARSHA DEEPAK DEEPAK GAIKWAD GAIKWAD Date: 2024.08.19 14:20:08 +0530
CORAM : ANIL S. KILOR, J.
DATE : 6TH AUGUST, 2024.
PC:
1 of 2
varsha
(11)-BA-1279-2024.doc
material collected by the IO, it is evident that the applicant was the Managing Director of the Al Falal Company. The investors invested the amount on a promise of handsome returns which the company failed to give.
(ANIL S. KILOR, J)
2 of 2
varsha
1 issue framed by the court
Whether the applicant should be granted bail under Section 439 CrPC in a depositors' fraud case where the charge-sheet prima facie shows his complicity.
3 provisions across 3 enactments
Mohammad Shakir Mohammad Nazir Shaikh
The State of Maharashtra
Anil S. Kilor
As recorded by the court registry
9 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
