Nagpur: Considering it to be a fit case for granting bail with stringent conditions, Justice Anil Kilor at the Nagpur Bench of Bombay High Court allowed the application for bail filed by the Sitabuldi trader and ordered his release on bail.
Pankaj Nandlal Agrawal (Mehadia) was booked in a criminal case registered against him at the Sitabuldi Police Station, for the offences punishable under Sections, 420, 406, 409, and 120-B of the IPC and Section 3 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) (MPID) Act.
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20 May 2025
Accepting his plea, the High Court allowed his release on furnishing PR bond of Rs 25,000 with one solvent surety in the like amount. According to the conditions imposed by the Court on the applicant for bail, he has been directed to attend the police station as and when called. Agrawal was also directed not to leave the jurisdiction of the concerned police station without permission of the Court. He has been asked not to make any direct or indirect inducement, threat or promise to any person acquainted with the facts of the case as also not to tamper with the evidence.
On the other hand, the State has been granted liberty to apply for cancellation of bail, in case the applicant commits a similar offence. The applicant’s counsel submitted to the Court that the complainant Ashok Purushottam Agrawal , who is a Chartered Accountant and Steel trader, had no grievance till 2017 about non-payment of deposits/interest by the applicant. In case there was any default, he could have filed a civil suit for recovery. However, he has been trying police machinery for recovery.
The High Court has noted that certain cheques were handed over to the lawyer of the complainant in view of the settlement. However, those were not handed over to the complainant by the lawyer. The said fact sufficiently shows that there was a settlement between the parties and the complainant accepted cheques through his lawyer. Moreover, there is nothing to show that if the applicant is released on bail, there is any possibility that the applicant would pressurise the prosecution witnesses or he will not be available for trial.
Advocates DV Chauhan and Rommill Jain appeared for the applicant. APP M A Barbade represented the State.
