The Bombay High Court has rejected the bail of the main accused Aniruddha Joshi in the Rs9 crore land mortgage cheating case lodged at Sinhagad police station and granted two weeks’ time to surrender before the investigating officer and to cooperate with the investigative agency.
Sachin, a resident of Vadgaon Budruk engaged in the construction business – lodged a complaint against the applicants at Sinhagad road police station on February 22.
The court also granted the accused (including two others) six weeks’ time to deposit the amount of Rs.15.5 crore before the court.
Judge CV Bhadang in his order stated, “The prayer for grant of anticipatory bail to applicant Anirudha Joshi stands rejected. Joshi is granted a time of two weeks to surrender before the investigating officer and to cooperate with the investigating agency. Joshi is to file an undertaking to that effect before this court, within one week from today. Pallavi Joshi and Rajani Joshi shall report to the investigating officer on April 6 and 7 between 11 to 1 pm and as and when required by the investigating officer. They shall surrender their passport before the investigating officer. The applicants are granted six weeks’ time to deposit the amount of ₹15.5 crore before the court...”
The judge in his order added, “It is not disputed on behalf of the applicants, that the land was mortgaged as a security, for the loan obtained from a consortium of the banks, led by Bank of Baroda, although the amount of the loan obtained from the consortium is disputed. In other words, it is an admitted position that the land was already mortgaged and in spite of the same, it was sold to the informant claiming it to be an unencumbered land with a free marketable title,” it stated.
{{/usCountry}}The judge in his order added, “It is not disputed on behalf of the applicants, that the land was mortgaged as a security, for the loan obtained from a consortium of the banks, led by Bank of Baroda, although the amount of the loan obtained from the consortium is disputed. In other words, it is an admitted position that the land was already mortgaged and in spite of the same, it was sold to the informant claiming it to be an unencumbered land with a free marketable title,” it stated.
{{/usCountry}}Advocate Yogendra Kumar and advocate Arun Longani appeared for the original complainant.