Mumbai |Special Correspondent: A special CBI court in Mumbai on Monday denied bail to Sudhir Palande, one of the key accused in an international cyber fraud case involving over ₹3.7 crore, citing the seriousness of the offence, the accused’s active involvement, and the fact that the investigation is still ongoing.
Delivering the order, Special CBI Judge B. Y. Phad observed: “Considering the accused’s active participation, the transnational nature of the offence, the significant amount involved, and the fact that investigation is still in progress, granting bail at this stage would not be appropriate.”
A Transnational Cyber Fraud Network
According to the CBI’s Economic Offences Wing (EOW), Vasai resident Sudhir Palande played an active role in the sophisticated cyber fraud network. The probe revealed that on July 2, 2025, fraudsters executed 11 separate fraudulent transactions in a single day, siphoning off approximately ₹3.76 crore.
Investigators said the operation bore similarities to “digital arrest”, customs fraud, and online financial scams — scams where victims are coerced or tricked into transferring money under false pretences.
Prosecutors alleged that Palande had provided his company’s bank account, SP Cargo and Courier Services Pvt Ltd, to the fraudsters to be used as a “mule account” for laundering illicit funds.
Cryptocurrency-Based Kickback
According to the prosecution, Palande travelled from Mumbai to Nagpur, where he handed over his company’s bank kit, ATM card, chequebook, SIM card, and login credentials to another individual. These materials were subsequently passed on to the main accused, Shaurya Singh.
In return, Palande reportedly received a commission of ₹4.3 lakh, paid in cryptocurrency, highlighting the sophisticated financial methods employed by the syndicate to conceal the money trail.
Court Terms It a “Serious Economic Offence”
The defence argued that since the chargesheet had already been filed, there was no further need for custody, and the accused deserved bail. However, the court rejected the argument, stating: “The mere filing of a chargesheet does not entitle an accused to bail, particularly in a case involving serious economic offences.”
The court also noted that three other accused had been arrested recently, indicating that the investigation remains active and ongoing.
Investigation Still in Progress
The CBI informed the court that the case is part of a transnational cybercrime syndicate operating across multiple countries, using tactics such as digital arrest, phishing, and identity theft to defraud individuals and businesses. The agency is now tracing the international money trail and identifying foreign links associated with the scam.
Judicial Observation
“This case appears to be part of a larger international conspiracy,” the court remarked. “The accused’s role is prima facie serious, and releasing him on bail at this stage could hamper the ongoing investigation.”
The court’s order underscores the judiciary’s tough stance on cyber and financial crimes, especially those with cross-border and digital dimensions, as India continues to face a sharp rise in sophisticated online frauds.
