IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/SPECIAL CRIMINAL APPLICATION (QUASHING) NO. 3317 of 2026 With R/SPECIAL CRIMINAL APPLICATION NO. 3319 of 2026 With R/SPECIAL CRIMINAL APPLICATION NO. 3335 of 2026 FOR APPROVAL AND SIGNATURE:

HONOURABLE MR. JUSTICE M. R. MENGDEY SD/-

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Approved for Reporting Yes No ✔

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VASANTBHAI HARIBHAI GAJERA Versus STATE OF GUJARAT & ANR.

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Appearances:

MR. MIHIR JOSHI, SENIOR ADVOCATE WITH MR ARJUN M.

JOSHI(11247) FOR THE APPLICANT(S).

MR. I.H. SYED, SENIOR ADVOCATE WITH MR. VISHRUT BHANDARI FOR THE APPLICANT(S).

MR. R.S. SANJANWALA, SENIOR ADVOCATE WITH MR. ANIQ KADARI AND MR. ADIT SANJANWALA FOR THE APPLICANT(S).

MR. R.R. MARSHAL, SENIOR ADVOCATE AND MR. PRAKASH K. JANI, SENIOR ADVOCATE WITH VIRAL K SHAH(5210) AND DR. SHAILESH R.

Patel(6044) FOR THE RESPONDENT(S) NO.2 MR. HARDIK DAVE, PP WITH H.K. PATEL, APP FOR THE RESPONDENT(S) NO.1 ================================================================

CORAM:HONOURABLE MR. JUSTICE M. R. MENGDEY Date : 11/03/2026

COMMON JUDGMENT

1. Draft amendment is granted. Amendment be carried out forthwith.

2. By filing the present petitions under Article 226 of the Constitution of India read with Section 528 of the BNSS, 2023, the petitioners herein have prayed for the following reliefs: -

“A. This Hon'ble Court may be pleased to admit and allow the present Petition;

B. This Hon'ble Court may be pleased to quash and set aside the FIR No.11210015260005 of 2026 registered with DCB Police Station, Surat dated 22.02.2026 and all proceedings arising thereof.

C. During pendency and till final disposal of the present Petition, this Hon'ble Court may be pleased to stay the investigation in connection with FIR No.11210015260005 of 2026 registered with DCB Police Station, Surat dated 22.02.2026 and all proceedings arising thereof.

AND/OR During the pendency and till final disposal of the present Petition, this Hon'ble Court may be pleased to direct no coercive steps against the Petitioners and extend the interim relief granted by the Hon'ble Supreme Court vide order dated 26.02.2026 passed in SLP Crl. Diary No.10942 of 2026.

D. This Hon'ble Court may be pleased to pass any other or further orders as deemed fit and in the interest of justice.”

3. The FIR being No.11210015260005 of 2026 came to be registered with the DCB Police Station of Surat City on 21.02.2026 for the offences punishable under Sections 409, 465, 467, 468, 471, 474, 386, 389, 120(B), 34 and 506(2) of the IPC against the petitioners herein and the other accused persons. Being aggrieved by the said FIR, the petitioners have approached this Court by filing the present sets of petitions.

4. Heard learned Senior Advocate Mr. Mihir Joshi appearing with learned Advocate Mr. Arjun M. Joshi for petitioners. He submitted that the allegations levelled against the petitioners in the FIR can be bifurcated in three segments.

Firstly, it is alleged that the petitioners have siphoned away the amount of Rs.1,900/- crores by resorting to illegal means. The second allegation is that the money which was siphoned away by the petitioners, was rooted back to the company through Hongkong where one of the petitioners was residing and the third set of allegations is that the signatures of the first informant, his wife and his father were forged on certain documents. He further submitted that initially the first informant had invested the amount of Rs.21,50,000/- in the company and out of Five lakhs shares of the company, Two Lakhs Fifteen Thousand shares were allotted to the first informant and his other family members. Thus, at the relevant time, the first informant and his family members were holding 43% shares of the company. Thereafter, at regular intervals, the share capital of the company was increased and resultantly, the numbers of shares had also increased.