Nagpur: In view of the No Objection Certificate (NOC) from the informant/intervenor Ashutosh Natwar Mundada and the Economic Offences Wing (EOW) of Nagpur Police (after mutual consultation), showing disinclination to go into the merits of the case, Justice Vinay Joshi and Justice Bharat Deshpande at the Nagpur Bench of Bombay High Court here, have ordered the Investigating Officer at the Bajaj Nagar Police Station, to inform “concerned” entities about de-freezing of 14 out of 16 freezed bank-accounts of the petitioners .
The court recorded the statement of the respondent-State about freezing of the two specific accounts and de-freezing of the remaining 14 accounts. The HC has granted to the Investigating Officer three working days’ time for complying with this direction. After passing this order, the HC disposed of the criminal writ petition filed by the M/s Banka Bullions Pvt. Ltd., M/s G.K.Trexim Pvt.Ltd. and three others, all from Kolkata, with liberty to approach afresh, if occasion arises so.
The High Court has also given liberty to the petitioner to approach the Magistrate for de-freezing the remaining two accounts after filing of chargesheet, if so advised . The petitioners have challenged the action of the respondent-Police freezing 16 bank accounts with about Rs 25 crores, in terms of Section 102 of the Cr.P.C. The ground for challenge had been non-applicability of Section 102 as there has been no subjective satisfaction and total arbitrariness in passing the order.
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Wednesday 26Feb. 2025
During the hearing , after mutual consultations APP V A Thakre made a statement that the purpose would be served, if only two bank accounts having about Rs. 4.5 crore, in which they had transferred money initially can be freezed and remaining accounts are released.
Earlier on February 28 last, Justice Anil Pansare had granted these petitioners anticipatory bail for the offences under Sections 403, 406, 409, 417, 420, 120B read with Section 34 of the IPC. It has been alleged that they did not deliver gold against the value received for that.
Senior counsel Sunil Manohar with Advocate Rohan Malviya appeared for the petitioners. Advocate A R Prasad represented the informant intervenor.
Notably, media had reported that a bullion trader of Nagpur Ashutosh Natwar Mundada was defrauded to the tune of Rs 4 crore by two companies from Kolkata on the pretext of making gold available at a cheap price. On the orders of the court, the Bajaj Nagar Police in Nagpur had registered a case of cheating under various sections.
According to media reports, the concerned accused companies from Kolkata took full amount from Nagpur bullion trader as an advance but did not provide the gold for almost six years. A case was registered in this regard against the directors and officials of both the companies, identified as JK Trexim Pvt Ltd and Banka Bullions Pvt Ltd. The accused include Gopalkrishna Banka, Raghav Banka, Rahul Banka, Rajkishore Banka, Anilkumar Banka and Yogeshkumar Banka, residents of Burra Bazar, Kolkata.
