Thane: The Thane Sessions Court has granted anticipatory bail to two Nayanagar residents — Dheeraj Ramesh Khandelwal and Nidhi Niraj Khandelwal — who are accused of alleged misappropriation of Rs 3.79 crore in a dry-fruit business investment scheme.
FIR and Allegations
The couple had moved the court after being named in an FIR registered at Nayanagar Police Station under Sections 318(4) read with 3(5) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023. The order was passed by Additional Sessions Judge V. G. Mohite on September 30.
According to the prosecution, the complainant, Moses Francis Chinappa, alleged that in 2022, co-accused Niraj Khandelwal induced him to invest in a dry-fruit business. Chinappa claimed he transferred Rs 2.14 crore to Niraj’s account and, on Niraj’s instructions, handed over Rs 45 lakh in cash to Dheeraj, Rs 40 lakh in cash to Nidhi, and Rs 80 lakh in cash to another co-accused. While Chinappa initially received a profit of Rs 45 lakh, he alleged that the accused later allegedly failed to return the remaining investment and profits, prompting him to lodge the FIR.
Defence Claims
The Khandelwals, however, denied all allegations, claiming they were falsely implicated due to their familial ties to Niraj Khandelwal. They argued they had no role in the business, had not received any money from the complainant, and that their custodial interrogation was unnecessary.
The prosecution and the complainant’s lawyer opposed the bail plea, stating that custodial interrogation was essential to trace the money trail and recover vehicles allegedly purchased with the proceeds of the crime. They also raised concerns about possible tampering with evidence and the risk of the accused absconding.
Court Observations
However, the court noted discrepancies in the complainant’s statements and the lack of evidence regarding cash transactions. In a strongly worded observation, the judge stated:
“The allegations in the FIR show that, as per the instructions of co-accused Niraj, the complainant handed over Rs 95 lakh in cash to the accused. However, the complainant has not explained how he had such a huge cash amount available for payment. As per RBI rules, no one is permitted to make cash payments of Rs 20,000 or above. The Investigating Officer has also failed to gather evidence of such payments. Under these circumstances, custodial interrogation of the accused is not required.”
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The court further held that the Investigating Officer could seek to freeze the accused’s bank accounts if necessary during the probe or trial, eliminating the need for custodial interrogation.
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