Authority: High Court of Gujarat, Ahmedabad (Hon’ble Mr. Justice Hasmukh D. Suthar)

Order Date: 10 July 2026

Case Overview

  • Applicant: Bhupal Nanavath S/o Nanavath Punya Naik, represented by Senior Advocate Mr. Yatin Oza and Advocate Mr. Anurag Rathor.
  • Respondent: State of Gujarat, represented by Ms. Shruti Pathak.
  • The application was filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) seeking regular bail for offences alleged in FIR C.R. No.11210062260035 of 2026, registered with the Cyber Crime Police Station, Surat.
  • Charged offences: Sections 318(4), 336(2), 338, 336(3), 340(2), 61(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023 (BNS) and Section 66‑D of the Information Technology Act.
  • Allegations: While acting as CEO of M/s Shares Bazaar Private Limited (registered with SEBI), the applicant allegedly induced the complainant and relatives to invest Rs 2,21,93,990 through WhatsApp and email promises of high returns. Of this, Rs 96,66,109 was returned; the remaining Rs 1,24,77,081 is claimed unpaid, with accusations of forged electronic documents, misleading statements, and suppression of a disclaimer regarding a 48% return.
  • The applicant was earlier arrested in a separate offence in Telangana; his judicial custody was transferred to Telangana State.
  • Investigation status: (i) Substantial part of investigation completed; (ii) None of the offences attract life imprisonment or death penalty and are triable by a Magistrate Court; (iii) Applicant has been in custody since 09‑06‑2026; (iv) No material is to be recovered from him; (v) Applicant has past antecedents but is presumed innocent; (vi) Trial is expected to take considerable time.
  • The Court considered precedents: Sanjay Chandra vs. CBI ([2012] 1 SCC 40) and Gudikanti Narasimhulu & Ors vs. Public Prosecutor, High Court of Andhra Pradesh ((1978) 1 SCC 240).

Final Outcome

  • The Court held that, on a prima facie basis, the case is suitable for regular bail and granted bail.
  • Bail terms: Execution of a personal bond of Rs 25,000 (Rupees Twenty‑Five Thousand only) with a surety of the same amount, to the satisfaction of the trial Court.
  • Conditions imposed:

(a) No misuse of liberty.

(b) No obstruction of police investigation or tampering with evidence.

(c) Surrender passport, if any, to the Trial Court within one week.

(d) No departure from India without prior permission of the concerned Trial Court.

(e) Appear before the concerned Police Station once a month for six months between 11:00 a.m. and 2:00 p.m.

(f) Furnish UIDAI number, contact numbers, passport number (if any), email address and present residential address to the Investigating Officer and the Court at bond execution; no change of residence without Court permission.

(h) Not to indulge in any illegal activity or similar offence; breach allows the Investigating Officer to seek cancellation of bail.

  • Release will be effected only if the applicant is not required for any other offence at that time.
  • Breach of any condition empowers the Sessions Judge to issue a warrant or take appropriate action.
  • Bail bond to be executed before the lower Court having jurisdiction; the Court may modify or relax conditions as per law.
  • The trial Court shall not be influenced by the preliminary observations made by this Court while enlarging bail.
  • The rule is made absolute; direct service is permitted.

Topics: Criminal Bail, Cyber Crime, Investment Fraud