Mumbai: Sessions Court Grants Bail To Caretaker Accused Of Cheating Retired IIT-Bombay Professor Of ₹6 Crore

Mumbai: The sessions court has granted bail to the 34-yearold caretaker arrested on June 30 for allegedly cheating a retired IIT-Bombay professor and usurping his assets worth over Rs6 crore. The court said that the matter is for a civil court to decide.

About The Case

As per the prosecution case, the applicant, Nikita Naik, was the complainant’s caretaker and allegedly took advantage of his old age, loneliness and visual impairment to assist him in financial matters. As per the case registered with the Powai police, Naik misappropriated and diverted funds amounting to Rs1.03 crore from the retired professor’s various bank accounts, removed golden jewellery worth Rs8.05 lakh from the locker at home without his consent and transferred his share in a three flats valued at Rs4.89 crore to herself by way of a registered gift deed between 2017 and 2025.

While seeking bail, Naik claimed she was residing with and serving the informant during the relevant period as none of his family members were available. As per the nail plea, the man voluntarily transferred the property by way of a registered gift deed affectionately as his children had deserted him. “The flat transaction relied upon by the prosecution is registered and based on documentation,” her lawyer argued.

She further contended that the probe revealed that the informant became visually impaired only in 2023, and prior to that he was managing his affairs independently with sound mind. The court noted, “Admittedly, the informant is highly educated and retired as a professor from an engineering institute. His son is a doctor by profession in Pune and a daughter resides in the vicinity.

The alleged incident occurred from 2017 to 2025. The transaction of the flat is a registered one. The amount is transferred through the bank from time to time during said period.” This, the court said, makes it a matter for a civil court to decide. As per the court, the case is based on registered documentation.

“The amount from the bank account of the applicant (Naik) has been frozen and muddemal (articles, items seized as evidence) has been recovered. The alleged offences are punishable by up to seven years and not punishable with life imprisonment or death. In such a case, bail is the rule and jail is the exception,” the court said.

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