AJAY MALHOTRAversusM/S NATIONAL INDIA BULLION REFINERY AND ORS

                                                                          13-APL-1373-2026 & 14.doc


                                 IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                      CRIMINAL APPELLATE JURISDICTION
                                     CRIMINAL APPLICATION NO.1373 OF 2026
ARJUN                 Ajay Malhotra                                           ...Applicant
VITTHAL               (Karta of Ajay Malhotra HUF)
KUDHEKAR
Digitally signed by
                              Versus
ARJUN VITTHAL          M/s National India Bullion Refinery & Ors.             ...Respondents
KUDHEKAR
Date: 2026.09.23
20:38:54 +0530
                                                    WITH
                                     CRIMINAL APPLICATION NO.1374 OF 2026
                      Nirmal Vedprakash Malhotra                              ...Applicant
                              Versus
                      M/s National India Bullion Refinery & Ors.              ...Respondents

                                                 ——————
                      Mr. Rishi Bhuta a/w Bhomesh Bellam, Parth Govilkar, Nehal Patil, Ujjwal
                      Gandhi, Khushboo Shah, Ankita Bamboli, Prateek Dutta, Saakshi Jha, Tanvi
                      Kondalkar, Maitrayee Ganediwala, Pratham Jain, Karishma Rajesh, Prajit
                      Majrekar, Mani Therar     & Atharva Utekar i/b Ganesh & Co., for the
                      Applicants.
                      Mr. Faran Khan a/w Prasad S. Rane, Shravani Nagwekar, Aishwarya
                      Athavale, for Respondent Nos.1, 2, 3 and 4.
                      Ms. S. M. Yadav, APP, for the Respondent-State in APL/1373/2026.
                      Mr. S. S. Ghag, APP, for the Respondent-State in APL/1374/2026.
                                                    ——————

                                                              Coram: Madhav J. Jamdar, J.
                                                              Date: 22 September 2026
                      P.C.:

                      1.      Heard Mr. Bhuta, learned Counsel appearing for the Applicants

                      and Mr. Khan, learned Counsel appearing for Respondent Nos.1 to 4.




                      Arjun                               1
                                                   13-APL-1373-2026 & 14.doc


2.      In Criminal Application No.1373 of 2026, the challenge is to the

legality and validity of the Order dated 18th February 2026 passed by

the learned Addl. Sessions Judge, City Civil & Sessions Court, C.R. No.84,

Mazgaon, Mumbai in Miscellaneous Application No.2482 of 2025 in

Criminal Appeal No.893 of 2025. In Criminal Application No.1374 of

2026, the challenge is to the legality and validity of the Order dated

18th February 2026 passed by the learned Addl. Sessions Judge, City

Civil & Sessions Court, C.R. No.84, Mazgaon, Mumbai in Miscellaneous

Application No.2480 of 2025 in Criminal Appeal No.892 of 2025.

3.      By the impugned Orders, the learned Additional Sessions Judge

has suspended the Orders of conviction and sentence passed by the

learned JMFC, 56th Court, Mazgaon, Mumbai, under Section 138 of the

Negotiable Instruments Act, 1881 (“NI Act”), in the respective Criminal

Complaints.

4.      It is the submission of Mr. Bhuta, learned Counsel for the

Applicants, that various aspects of the matter have not been taken into

consideration by the learned Additional Sessions Judge and that only on

the basis of the cross-examination on certain aspects, the impugned

Orders have been passed. He submits that, in fact, the payments which

are referred in cross-examination had been received long back before

the issuance of the cheques, their dishonor, and the filing of the

Complaints and, therefore, the said aspect is irrelevant.


Arjun                              2
                                                       13-APL-1373-2026 & 14.doc


5.         On the other hand, Mr. Khan, learned Counsel for Respondent

Nos.1 to 4, submits that the impugned Orders have been correctly

passed. However, as the contention is raised by the Applicants that all

the relevant aspects have not been considered and that elaborate

reasons have not been recorded, on instructions, learned Counsel

submits that the Respondent Nos.1 to 4 have no objection for setting

aside the Order and remand of the same to the learned Appellate Court.

6.         Accordingly, by consent of the parties, the following Order is

passed:

     i.     The impugned Order dated 18th February 2026 passed by the

            learned Addl. Sessions Judge, City Civil & Sessions Court, C.R.

            No.84, Mazgaon, Mumbai in Miscellaneous Application No.2482

            of 2025 in Criminal Appeal No.893 of 2025, and the impugned

            Order dated 18th February 2026 passed by the learned Addl.

            Sessions Judge, City Civil & Sessions Court, C.R. No.84, Mazgaon,

            Mumbai in Miscellaneous Application No.2480 of 2025 in

            Criminal Appeal No.892 of 2025, are quashed and set aside, by

            consent of the parties and the said Miscellaneous Applications

            are remanded back to the learned Additional Sessions Judge for

            fresh decision by giving opportunity of hearing to both the sides.

     ii.    However, it is clarified that, till the disposal of Miscellaneous

            Application No.2482 of 2025 and Miscellaneous Application


Arjun                                   3
                                                       13-APL-1373-2026 & 14.doc


            No.2480 of 2025, the Orders of conviction and sentence passed

            by the learned JMFC shall remain suspended.

     iii. It is clarified that all contentions of both the parties are

            expressly kept open.

     iv.    The concerned learned Additional Sessions Judge is requested to

            dispose of the said Miscellaneous Applications, expeditiously, on

            or before 31st December 2026.


7.         The Criminal Applications are disposed of in above terms.



                                                    [Madhav J. Jamdar, J.]




Arjun                                  4