Bombay High Court
ASHIQBHAI MAHADEVBHAI NAAYEE @ NAI AASHIKBHAI MAHADEVBHAI AND ANRversusSTATE OF MAHARASHTRA
- Decided
- Disposal
- Disposed Off
Holding
Bail is granted to the applicants subject to the stipulated conditions.
Summary
The Bombay High Court considered a bail application filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023, by two accused (Ashiqbhai Naayee and Pravinbhai Rabari) charged under IPC sections 420, 465, 467, 468 and 471 for alleged involvement in a fixed‑deposit fraud scheme. The prosecution alleged that the principal accused received Rs.14.53 crore and used the applicants' bank accounts as mule accounts, paying them Rs.20,000 each. The defence argued that, on the principle of parity, the applicants' role was minor compared to other co‑accused who had already been released on bail after receiving much larger sums. The court found that the prima facie case against the applicants was limited to the modest amount received and therefore granted bail, imposing standard conditions such as surety, reporting, and passport surrender. The order expressly limited its observations to bail and did not address the merits of the trial.
Issues considered
- The applicability of Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 to grant bail in a fraud case.
- Whether the principle of parity justifies bail for the accused who acted as mule account holders.
- Whether the modest amount received (Rs.20,000) warrants bail despite the larger fraud alleged against principal accused.
Legislation cited
- Bharatiya Nagarik Suraksha Sanhita, 2023 — s. 483
- Indian Penal Code, 1860 — s. 420, 465, 467, 468, 471
Subjects
- bail
- parity principle
- mule account
- fraud
- fixed deposit scam
- IPC
- Section 483
- Bharatiya Nagarik Suraksha Sanhita
Judgment
49.BA.1151.2026.doc
Ajay
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
BAIL APPLICATION NO. 1151 OF 2026
1. Ashiqbhai Mahadevbhai Naayee @ Nai
Aashikbhai Mahadevbhai
2. Pravinbhai Ishwarbhai Rabari .. Applicants
Versus
State of Maharashtra .. Respondent
....................
Mr. Mithilesh Mishra a/w. Ms. Namasvi Bhanushali, Advocates for
Applicants.
Mr. Sukanta A. Karmakar, APP for Respondent – State.
API – Mr. Rameshwar Parve, Crime Branch, Unit – 03, Navi Mumbai
present.
......…........…
CORAM : MILIND N. JADHAV, J.
DATE : SEPTEMBER 17, 2026.
P.C.:
1. Heard Mr. Mishra, learned Advocate for Applicants Mr.
Karmakar, learned APP for Respondent – State.
2. This is an Application under Section 483 of Bharatiya
Nagarik Suraksha Sanhita, 2023 seeking Bail in connection with
C.R.No.206 of 2024 registered with Kalamboli Police Station, District
Raigad for offences punishable under Sections 420, 465, 467, 468 and
471 fo the Indian Penal Code, 1860 (for short ‘IPC’).
3. Applicants before the Court are arraigned as Accused Nos.
11, 14 and 15. Thirty other co-accused persons have all been released
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on bail by virtue of an order dated 03.09.2026 passed in 4 Bail
Applications and other accused persons were enlarged on bail by a
previous order dated 10.07.2026 passed in Criminal Bail Application
No.2466 of 2025 by my predecessor.
4. Insofar as the prosecution case is concerned, the prime
accused in the present case are Accused Nos.1, 2, 3 and 5 and they
allegedly received fixed deposits to the tune of Rs.14.53 Crores while
passing the order dated 03.09.2026, I have considered the entire
modus operandi which led to the investments made by several persons
with the principal accused persons with the hope of receiving high
returns.
5. There is also a case of impersonation which is prima facie
seen in the present case by the principal accused persons on behalf of
UCO Bank of India. This aspect as well as other aspects have also been
revealed when the fixed deposits were received from the Mumbai
Metropolitan Region Iron and Steel Market Committee (for short
‘MMRISMC’).
6. The role attributed to these two Applicants before me is that
their bank accounts were used as mule accounts for the purpose of
transfer of funds by the principal accused persons. The charge-sheet
prima facie shows that they had received a benefit of Rs.20,000/- each
for giving the details of their bank accounts to be used as a mule
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account by the other accused persons.
7. Mr. Mishra would pitch the case on the ground of parity. He
would submit that all other accused persons who have been enlarged
on bail had received substantial amounts in excess of lakhs of rupees
and some of them few crores of rupees. He would submit that both the
Applicants before the Court in order to make a fast buck, gave their
details of their accounts to the other co-accused persons. They both are
Uber drivers in Ahmedabad and had given their details to the principal
accused persons.
8. Having considered the submissions and the specific role
attributed to the two Applicants before me and also on the basis of the
prosecution material which prima facie does not show the credit of any
substantial amounts save and except the amount of Rs.20,000/-, a
prima facie case is made out for grant of bail on parity for both the
Applicants before me.
9. Hence, in view of above prima facie observations and
findings, Bail Application of Applicants is allowed subject to the
following terms and conditions:-
(i) Applicant – Ashiqbhai Mahadevbhai Naayee @ Nai
Aashikbhai Mahadevbhai is directed to be immediately
released from prison in connection with CR. No.206 of
2024 registered with Kalamboli Police Station, Raigad,
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upon furnishing a P.R. Bond in the sum of Rs.25,000/-
with one or two sureties in the like amount to the
satisfaction of the Judicial Magistrate First Class, Panvel
in R.C.C. No.876 of 2024; Applicant shall furnish one
surety from Maharashtra and one surety from Gujarat;
(ii) Applicant – Pravinbhai Ishwarbhai Rabari is directed to
be immediately released from prison in connection with
CR. No.206 of 2024 registered with Kalamboli Police
Station, Raigad, upon furnishing a P.R. Bond in the sum
of Rs.25,000/- with one or two sureties in the like
amount to the satisfaction of the Judicial Magistrate
First Class, Panvel in R.C.C. No.876 of 2024; Applicant
shall furnish one surety from Maharashtra and one
surety from Gujarat;
(iii) Applicants shall not, directly or indirectly, make any
inducement, threat or promise to any person acquainted
with the facts of the case to dissuade that person from
disclosing the facts to the Court or any police officer
and shall not tamper with evidence;
(iv) The Applicants shall, within three (3) days of their
release from jail, provide to the Investigating Officer,
Kalamboli Police Station, Raigad, their residential
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addresses, contact numbers, e-mails and must inform
the Investigating Officer about any change in the same
from time to time;
(v) The Applicants shall surrender their passports to the
Court of the Judicial Magistrate First Class, Panvel, in
R.C.C.No. 876 of 2024 within three days of their release
from jail;
(vi) The Applicants shall report to the Investigating Officer,
Kalamboli Police Station, Raigad on the 2nd and 4th
Saturday of each month from 11.00 am to 12.00 noon
till conclusion of trial in R.C.C.No. 876 of 2024;
(vii) The Applicants shall regularly appear before the
Judicial Magistrate First Class, Panvel in R.C.C.No. 876
of 2024 as and when the matter is fixed, unless
specifically exempted;
(viii)If the Applicants abstain from appearing before the
Trial Court, then the same would be considered as a
breach of Court conditions and the Court would be at
liberty to pass appropriate orders; and
(ix) The Applicants shall not leave India without prior
permission from the Court.
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10. It is clarified that the observations made in this order are
limited for the purpose of granting bail only and I have not made any
observations on merits of the case. The trial shall be adjudicated on
the strength of the evidence led and strictly on its own merits being
uninfluenced with any of the prima facie observations made
hereinabove in this order.
11. Bail Application is allowed and disposed in the above terms.
[ MILIND N. JADHAV, J. ]
Ajay
Digitally signed by
AJAY AJAY TRAMBAK
TRAMBAK UGALMUGALE
UGALMUGALE Date: 2026.09.17
18:01:09 +0530
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