In the light of the parameters laid down in Siddharam Satlingappa Mhetre’s case, we have considered rival contentions of the parties. The dispute between the parties revolves around MOU dated 21.12.2005 and the previous MOU dated 3.2.2005. The dispute is purely a business transaction based on the said MOUs. According to the appellant- accused, he sold the land belonging to his father in Survey No.75/18 to M/s. Siddhivinayak Enterprises by sale deed dated 31.12.2007 as legal representative of his father and there is no illegality involved in it. Whether the appellant-accused has sold the property to M/s. Siddhivinayak Enterprises in his capacity as the legal heir of his father or as a representative of the company and whether there was any dishonest intention to cheat the complainant remains to be seen only when the parties adduce oral and documentary evidence.
When the Special Leave Petitions came up for hearing, by order dated 9.5.2014 interim protection from arrest was granted to the appellant- accused and without prejudice to the contentions, the appellant was directed to deposit a sum of rupees one crore in the Registry of the Supreme Court and in compliance of the said order, the appellant has deposited rupees one crore. Since the transaction is in the nature of commercial transaction and since the appellant has also shown his bonafide by depositing rupees one crore, pending further investigation, in our view, anticipatory bail could be granted to the appellant.
Supreme Court of India
Rakesh Baban Borhade vs The State Of Maharashtra & Anr ... on 19 November, 2014
Bench: Dipak Misra, R. Banumathi
Citation;(2015)2 SCC313