Ahmedabad court rejects bail in ₹9 crore cheating case involving 386 mobile phones

A City Civil and Sessions Court in Ahmedabad has rejected the bail plea of Ajaykumar Rastogi, accused of cheating a businessman of over ₹9.29 crore by promising to start a new mobile phone business.

The court observed that there has been no change in circumstances since the filing of the chargesheet. Despite the complainant submitting a no-objection affidavit stating that the accused had assured repayment of the remaining dues, no substantial payment has been made beyond an initial ₹82,000.

The court held that the offence cannot be considered compromised, and thus it did not find it appropriate to exercise discretion in granting bail. This marks the third rejection of Rastogi's regular bail applications, with the previous two also denied by the court. He has been in judicial custody since January 8, 2026.

According to the prosecution, Rastogi, who presented himself as the proprietor of Harshit Enterprise, visited the complainant's offices in Ahmedabad and Pune. Between June 7, 2022, and October 1, 2022, he allegedly induced the complainant to advance amount and supply 386 mobile phones worth ₹9.29 crore for a purported new mobile business venture. The accused lured complainant by offering 50 per cent in profit. However, he failed to return the money or fulfil the agreement, leading to an FIR for criminal breach of trust registered at the Ahmedabad Crime Branch.

The public prosecutor argued that the accused had taken the advance money and phones on false pretexts, causing significant financial loss, and emphasised that circumstances remain unchanged, warranting continued custody.

Rastogi's counsel contended that the investigation is complete with the chargesheet filed, the accused has no prior criminal record, and as a resident of Uttar Pradesh, he would not abscond if granted bail. The accused is in judicial custody since early January 2026. ‎