Final Order 1

Order Details: Order Below EX 1
Pdf Text: C. C. No. 901/N/2021
Rajesh Neelkanthan CFO of Transrail Lighting Ltd.
V/s. B.K.C. P. Stn.
ORDER
1. This is an application filed for return of cash amount of R.
10,00,000/- (Ten Lacs) seized in the crime by B.K.C. Police Station in C.
R. No. 180/2021 registered under section 406, 408, 420 etc. of I.P.C.
2. Investigating Officer has given no objection to return the
seized cash amount to the applicant by filing his say (Exh.-2). Ld. APP
raised objection to release the seized muddemal. Accused has resisted
the application by filing his say at (Exh.-3) and contended that, the said
amount has been recovered from different persons and they are not
impleaded, as a respondent. therefore, application be rejected.
3. The persons from whom the Investigating Officer during
investigation seized the amount has filed their say at (Exh.-4) and
contended that, accused has transferred the amount to them and
appropriate order be passed in respect of said amount. They have also
filed joint affidavit in support of their say at (Exh.-5).
4. Heard Ld. Advocate Shri Kazi for applicant and Ld. APP
Shri Joshi for the State. No arguments advanced on behalf of accused.
5. It is contended that, accused Nilesh was Chief Manager in
the applicant’s company and he has misappropriated amount of I Two
crore Forty Eight lakhs Sixty One Thousand by fabricating false invoices.
The company has lodged the report to B.K.C. police and the basis of
said report B.K.C. police have registered C. R. No. 180/2021 against
accused.
3. The record shows that the Investigating Officer during
investigation recovered amount of I10,00,000/- from Ashok Tirpathi,
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Pintukumar Sav, Dayanand Sav and Jagdish Shetty by drawing different
panchnama dated 05/09/2021 and 22/08/2021. The person from
whom the said amount has been recovered has contended that, the said
amount has been transferred to them by accused Nilesh Sejwal. The
Investigating Officer has no objection to deliver amount seized to the
company. Admittedly seized cash amount belongs to the applicant.
There is no rival claim by any person in respect of the seized cash
amount. Custody of the cash amount is not required for further
investigation. In such circumstances, no good purpose would serve
keeping the said cash amount further in custody. Applicant is entitled to
receive the seized cash amount. In the result, following order is
passed :-
ORDER
1. The custody of cash amount of R.10,00,000/- (Ten Lacs)
seized in the crime by BKC Police Station in C. R.
No.180/2021 registered under section 406, 408, 420 etc.
of IPC etc. be returned to the applicant company on
furnishing indemnity bond of R. 10,00,000/- (Ten Lacs).
2. The Investigating Officer is directed to draw panchmana
of the seized notes and produce the same with indemnity
bond of applicant in final report.
3. The applicant company shall submit undertaking that, in
case court concluded at the end of trial that, the said
amount is not entitled to receive by it then it will have to
deposit the said amount in the court.
Mumbai
Date : 03/02/2024.
SRD
Sd/-
Metropolitan Magistrate,
71st Court, Bandra, Mumbai.
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