Bombay High Court Grants Bail to Builder in Housing Fraud Case

Mumbai: The Bombay High Court has granted bail to Gopal Amarlal Thakur, a builder associated with the Monarch Universal Group, who was arrested by the Enforcement Directorate (ED) in a housing fraud case in Navi Mumbai. Justice Manish Pitale ruled in favor of Thakur, citing his prolonged incarceration and the unlikely prospect of a timely trial. Thakur had been in custody since July 1, 2021, serving over three years before being released on bail on August 8. Thakur's advocate, Rajiv Chavan, argued that his client faced predicate offences for which he had already been granted bail. He emphasized that charges in the ED case had not yet been framed, and the prosecution planned to examine 67 witnesses, indicating a lengthy trial ahead. Chavan noted that Thakur had already served nearly half of the maximum potential seven-year sentence if convicted. The bail plea faced opposition from Special Public Prosecutor Sandesh Patil, who highlighted the impact on individuals who had purchased flats in the projects linked to Thakur and other accused. Patil pointed out that a prior FIR related to one of the predicate offences was quashed after a settlement, but Thakur and his co-accused later withdrew from the agreement, reviving the charges against them. Justice Pitale ultimately granted bail on the basis of Thakur's extended detention and the slow progress of the trial, requiring him to furnish a personal bond of Rs 50,000. The ED's investigation revealed that Thakur allegedly diverted significant funds from investors to various sister entities, leading to multiple sales of the same flats and fraudulent loan practices.