49.BA.1151.2026.doc Ajay IN IN THE THE HIGH HIGH COURT COURT OF OF JUDICATURE JUDICATURE AT AT BOMBAY BOMBAY CRIMINAL APPELLATE JURISDICTION 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 1 of 6 49.BA.1151.2026.doc 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 2 of 6 49.BA.1151.2026.doc 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, 3 of 6 49.BA.1151.2026.doc 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 4 of 6 49.BA.1151.2026.doc 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. 5 of 6 49.BA.1151.2026.doc 10. 5 of 6 49.BA.1151.2026.doc 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 6 of 6 AJAY TRAMBAK UGALMUGALE Digitally signed by AJAY TRAMBAK UGALMUGALE Date: 2026.09.17 18:01:09 +0530