13-APL-1373-2026 & 14.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO.1373 OF 2026 Ajay Malhotra ...Applicant (Karta of Ajay Malhotra HUF) Versus M/s National India Bullion Refinery & Ors. ...Respondents 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 ARJUN VITTHAL KUDHEKAR Digitally signed by ARJUN VITTHAL KUDHEKAR Date: 2026.09.23 20:38:54 +0530 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