Bombay HC Refuses To Transfer Mumbai MPID Case To Pune; Orders Joint Trial Of 2 Cases

Mumbai, June 27: The Bombay High Court has refused to transfer an MPID case pending in Mumbai to Pune for a joint trial, holding that the convenience of hundreds of investors, particularly senior citizens, must be balanced with the interests of the accused. However, it directed that the two MPID cases pending in Pune be clubbed and tried together before the Special MPID Court in Pune.

A bench of Justices Ajey Gadkari and Kamal Khata partly allowed a petition filed by the accused seeking a common trial of three criminal cases registered under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (MPID Act), arising from alleged fraudulent investment schemes.

The petitioners had sought the transfer of two Pune cases to Mumbai, where an MPID Special Case arising from an FIR registered by the Economic Offences Wing (EOW) is already pending.

They argued that all three cases arose out of similar transactions and should be tried together to avoid multiple proceedings. They also undertook to bear the travel and meal expenses of witnesses if the Pune cases were shifted to Mumbai.

State Opposes Transfer

The State opposed shifting the Mumbai case, pointing out that it involved 567 investors, including 275 senior citizens. It, however, stated that it had no objection to the two Pune cases being clubbed together.

Accepting the State's stand, the bench said the undertaking to reimburse travel expenses could not overcome the inconvenience that elderly victims would face.

"Financial assistance by itself cannot alleviate the physical hardship and inconvenience that senior citizens may be required to undergo while travelling from Pune to Mumbai for attending the trial," the court observed.

Convenience Of Investors Prioritised

The judges noted that the three cases together involve 1,846 investors, around 502 of whom are senior citizens. The Mumbai case has 567 investors, the Chaturshrungi Police Station case has 1,231 investors, while the Lashkar Police Station case has 48 investors.

"Having regard to the aforesaid circumstances and upon balancing the convenience of the accused with that of the investors/victims," the court held that the two Pune cases should be clubbed and tried together.

Also Watch:

The bench ruled that the Mumbai case would continue before the Special MPID Court in Mumbai, observing that the arrangement "substantially addresses the grievance of the petitioners while also safeguarding the convenience of the investors/victims, particularly the senior citizens," and would facilitate speedy trials under the MPID Act.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/