ABHAYBHAI NARENDRABHAI LODHA Vs. STATE OF GUJARAT

JUDGEMENT

(1.) The applicant has filed this regular bail application under Sec. 439 of the Code of Criminal Procedure, 1973. The applicant is arrested on 30/6/2022 in connection with the FIR being C.R.No. I - 01/2020 registered at CID Crime Rajkot Zonal Police Station, Rajkot, dtd. 4/7/2020 under the provisions of Ss. 405 , 406 , 420 , 120B and 34 of Indian Penal Code.

(2.) Heard Mr. Percy Kavina, learned Senior Counsel assisted by Mr. Abhishek Mehta, learned counsel for the applicant, Mr. Aditya Gupta, learned counsel for the original informant and Ms. Krina Calla, ld. APP for the State.

(3.) The facts in brief giving rise to filing present application are that, in the yer 2017, complainant was in need of funds for his scheme, for which, the complainant and his son contacted Mr.Mayankbhai Shah and Mr. Divyeshbhai Shah, residents of Mumbai. Pursuant to their meeting with Divyeshbhai, he introduced the present applicant Abhay Lodha and assured the complainant that, they will be assisted in obtaining loan of Rs.40.00 crore from Union Bank of India, Lower Parel branch, Mumbai. Parties agreed to share equally the loan amount i.e. Rs.20.00 crore will be retained by the complainant, whereas, remaining loan amount would be given to the present applicant. With the aforesaid understanding, the complainant and his son went to the Sub-Registrar's office, Palghar, where they handed over the documents of their property situated at Amreli and executed the simple mortgage deed, which was registered in the year 2017. It is alleged in the FIR that, the applicant assured that, within three months, the loan would be sanctioned and credited in the bank account. After some time, the complainant reminded the applicant for the loan amount, but he did not receive any amount as promised by the applicant. However, facts remain that, Rs.7,88,00,000.00 was being paid to the complainant by U.A Trading Pvt. Ltd. Company, known to the applicant herein.