BHUPAL NANAVATH S/O NANAVATH PUNYA NAIKversusSTATE OF GUJARAT

   R/CR.MA/15768/2026                                ORDER DATED: 10/07/2026




IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
   R/CRIMINAL MISC.APPLICATION (FOR REGULAR BAIL - BEFORE
               CHARGESHEET) NO. 15768 of 2026
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         BHUPAL NANAVATH S/O NANAVATH PUNYA NAIK
                            Versus
                      STATE OF GUJARAT
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Appearance:
MR YATIN OZA, SR. ADVOCATE with MR ANURAG R RATHOR(9315) for the Applicant
MS SHRUTI PATHAK, APP for the Respondent(s) No. 1
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  CORAM:HONOURABLE MR. JUSTICE HASMUKH D. SUTHAR

                            Date : 10/07/2026
                                 ORDER

[1.0] RULE. Learned APP waives service of rule for the respondent-
State.

[2.0] The present application is filed under Section 483 of the
Bharatiya Nagarik Suraksha Sanhita, 2023 (for short “BNSS”) for
regular bail in connection with FIR being C.R. No.11210062260035 of
2026 registered with Cyber Crime Police Station, Surat City for the
offences punishable under Sections 318(4), 336(2), 338, 336(3), 340(2),
61(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023 (for short “BNS”)
and section 66-D of the Information Technology Act.

[3.0] Learned Senior Advocate Mr. Yatin Oza assisted by learned
advocate Mr. Anurag Rathor appearing on behalf of the applicant
submits that applicant is innocent and has been falsely implicated in
the offence and now nothing is required to be recovered or
discovered. He therefore submits that, considering the nature of the
offence, the applicant may be enlarged on regular bail by imposing
suitable conditions.


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   R/CR.MA/15768/2026                              ORDER DATED: 10/07/2026




[4.0] Learned APP appearing on behalf of the respondent-State has
opposed the present application and requested to dismiss the present
application for regular bail looking to the nature and gravity of the
offence.

[5.0] While granting bail, the Court has to consider the involvement
of the accused in the alleged offence, the jurisdiction to grant bail has
to be exercised on the basis of the well settled principles having
regard to the facts and circumstances of each case and the following
factors are to be taken into consideration while considering an
application for bail: (i) the nature of accusation and the severity of the
punishment and the nature of the materials relied upon by the
prosecution; (ii) reasonable apprehension of tampering with the
witnesses and threat to the complainant or the witnesses; (iii)
reasonable possibility of securing the presence of the accused at the
time of trial or the likelihood of his abscondence; (iv) character
behaviour and standing of the accused and the circumstances which
are peculiar to the accused; (v) larger interest of the public or the
State and similar other considerations are required to be considered.

[6.0] I have heard the learned advocates appearing on behalf of the
respective parties and perused the investigation papers. It is pertinent
to note that the applicant was arrested in connection of one offence
registered at Telangana State and though proceeding of said offence
has been stayed, the judicial custody of the applicant is transferred to
Telangana State. Further, the role attributed to the present applicant
is that he was rendering his services as CEO of one company namely
M/s. Shares Bazaar Private Limited which was registered with SEBI,
which is an undisputed fact. It is alleged that temptation of hefty
returns and profit through whatsapp and email were given pursuant


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      R/CR.MA/15768/2026                                         ORDER DATED: 10/07/2026




to     which      the      complainant     and         his   relatives   had     invested
Rs.2,21,93,990/- against which Rs.96,66,109/- came to be returned to
the complainant and witnesses. Considering the aforesaid fact, prima
facie, it appears that so far as allegation of cheating is concerned,
Court has considered the intention of cheating or dishonest intention
since inception. Further, the complaint is filed only on the ground that
accused company failed to repay Rs.1,24,77,081/- alleging that the
company has forged the electronic documents and made misleading
statement and thereby committed criminal breach of trust under the
pretext that one application was disclosed through online platform
wherein disclaimer as regards 48% of return was suppressed by the
applicant. This Court has also considered the following aspects:
(1)       Substantial part of investigation is over;

(2)       None of the offence alleged is punishable with life sentence or
          death penalty and is triable by the Court of Magistrate;

(3)       Applicant is behind the bars since 09.06.2026;

(4)       There is nothing to be recovered or discovered from the
          applicant;

(5)       The applicant is having past antecedents however, he is
          governed by the presumption of innocence;

(6)       Obviously commencement and conclusion of trial will take
          some time.

[7.0] This Court has also taken into consideration the law laid down
by the Hon'ble Apex Court in the case of Sanjay Chandra vs. Central
Bureau of Investigation reported in [2012]1 SCC 40 as well as in the



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   R/CR.MA/15768/2026                               ORDER DATED: 10/07/2026




case of Gudikanti Narasimhulu And Ors vs. Public Prosecutor, High
Court of Andhra Pradesh reported in (1978)1 SCC 240. Obviously,
the conclusion of trial will take time and keeping the accused behind
the bars is nothing but amounts to pre-trial conviction and therefore,
considering the celebrated principle of bail jurisprudence is that “bail
is a rule and jail is exception” as well as the concept of personal liberty
guaranteed under Article 21 of the Constitution of India, present
application deserves consideration.

[8.0] In the facts and circumstances of the case and considering the
nature of the allegations made against the applicant in the FIR,
without discussing the evidence in detail, prima facie, this Court is of
the opinion that this is a fit case to exercise the discretion and enlarge
the applicant on regular bail. Hence, the present application is
allowed. The applicant is ordered to be released on regular bail in
connection with FIR being C.R. No.11210062260035 of 2026
registered with Cyber Crime Police Station, Surat City on executing
a personal bond of Rs.25,000/- (Rupees Twenty-five Thousand only)
with one surety of the like amount to the satisfaction of the trial Court
and subject to the conditions that he shall;
     (a)    not take undue advantage of liberty or misuse liberty;

     (b)    not act in a manner injurious to the interest of the
            prosecution & shall not obstruct or hamper the police
            investigation and shall not to play mischief with the
            evidence collected or yet to be collected by the police;

     (c)    surrender passport, if any, to the Trial Court within a week;

    (d)    not to leave the country without prior permission of the
           Trial Court concerned;

    (e)    mark presence before the concerned Police Station once in
           a month for a period of six months between 11.00 a.m. and


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   R/CR.MA/15768/2026                                                           ORDER DATED: 10/07/2026




              2.00 p.m.;

     (f)      furnish the UIDAI Number, Contact Number/s, Passport
              Number (if he is having the passport), E-mail address and
              present address of his residence to the Investigating Officer
              and also to the Court at the time of execution of the bond
              and shall not change the residence without prior permission
              of Trial Court;

     (h)      not to indulge in any illegal activity or any similar type of
              offence failing which concerned Investigating Officer shall
              have liberty to file an application for cancellation of bail
              against the present applicant.

[9.0] The authorities will release the applicant only if he is not
required in connection with any other offence for the time being. If
breach of any of the above conditions is committed, the Sessions
Judge concerned will be free to issue warrant or take appropriate
action in the matter.

[10.0]            Bail bond to be executed before the lower Court having
jurisdiction to try the case. It will be open for the concerned Court to
delete, modify and/or relax any of the above conditions, in accordance
with law.
[11.0]            At the trial, the trial Court shall not be influenced by the
observations of preliminary nature qua the evidence at this stage
made by this Court while enlarging the applicant on bail.

[12.0]            Rule is made absolute to the aforesaid extent.                                          Direct
service is permitted.



                                                                     (HASMUKH D. SUTHAR, J.)
Ajay
  Original copy of this order has been signed by the Hon'ble Judge.
  Digitally signed by: AJAY CHANDRAN MENON(HC00939), PRINCIPAL PRIVATE SECRETARY, at High Court of Gujarat on 10/07/2026 14:37:07




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