HEMANT

2025:BHC-AS:56320-DB

CHANDERSEN

SHIV

HEMANT

CHANDERSEN SHIV

Date: 2025.12.19 15:06:59 +0300

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CRIMINAL APPELLATE JURISDICTION

CRIMINAL APPEAL NO.970 OF 2025

Kumar Shah and Anr. … Appellants

V/s.

Amit Masalia and Ors. … Respondents

Mr. Muthahhar Khan with Sachin Mhatre, Diksha Shirodkar, Ishita Kamath,

Smriti Sanjeev i/b Mhatre Law Associates for the Appellants.

Mr. Shirish Gupte, Senior Advocate with Mr. Piyush P. Hushing for

Respondent Nos.1 to 7.

Ms. Sangeeta D. Shinde APP for the Respondent-State. Mr. Vinayak Desure, API, Unit-8, MPID, EOW, Mumbai.

CORAM : BHARATI DANGRE &

SHYAM C. CHANDAK, JJ.

DATE : 17th DECEMBER, 2025

P.C:-

1) In furtherance of our direction issued, the Incharge Deputy Collector (ENC/REM), Malad, Mumbai has filed an affidavit dated 12/12/2025 offering the details of the property in hand of the Competent

Authority including the money lying in the bank account as well as shares.

The total valuation of the said property as per the said affidavit

is approximated at Rs.12,90,20,724.50. However, as on date the amount due and payable to the depositors is to the tune of Rs.17.38 crores.

Mr.Khan, learned Counsel for the Appellants has raised an o