GOLDEN PEACE HOSPITALITY PVT LTD vs THE STATE OF MAHARASHTRA

Judgment text excerpt

ba-4989-2024 with connected-final.doc AGK IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION BAIL APPLICATION NO.4989 OF 2024 Jayant Sanjeeva Shetty … Applicant V/s. The State of Maharashtra … Respondent WITH INTERIM APPLICATION NO.238 OF 2025 Prada Sadhu Shetty … Applicant V/s. The State of Maharashtra & Anr. … Respondents WITH INTERIM APPLICATION NO.1663 OF 2025 Golden Peace Hospitality Pvt. Ltd. … Applicant V/s. The State of Maharashtra & Anr. … Respondents ATUL Mr. Aabad Ponda, Sr. Advocate a/w Jugal Kanani for the GANESH KULKARNI Applicant. Digitally signed by Mrs. Megha Bajoria, APP for the State – respondent. ATUL GANESH KULKARNI Date: 2025.08.12 12:18:57 +0530 Mr. Mutahar Khan with Sachin Mhatre, Ishita Kamath, and Rithika Mehra i/b Mhatre Law Associates for the Intervener in IA/238 of 2025. Mr. Rahul S. Arote a/w Jay N Suryavanshi for Intervener in IA/1663/2025. Mr. Sangle, PI, EOW, is present. CORAM : AMIT BORKAR, J. DATED : AUGUST 12, 2025 1 ba-4989-2024 with connected-final.doc P.C.: 1. The present application has been moved by the Applicant/Accused No.2, namely Jayant Sanjeeva Shetty, under Section 439 of the Code of Criminal Procedure, 1973, seeking the grant of regular bail. The matter arises out of C.R. No. 2 of 2020 registered with the Economic Offences Wing, Mumbai, which was initially registered as C.R. No. 5 of 2020 with Malad Police Station. The offences alleged against the present Applicant are punishable under Sections 406, 409, and 420 read with Section 120-B of the Indian Penal Code, 1860 (hereinafter “IPC”) as also under Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (hereinafter “MPID Act”). 2. The prosecution case, in brief, is that agents of M/s. Shree R