Mumbai: A sessions court has granted bail to a self-styled godman from Kerala, who was arrested by the Powai police in June, after a city-based businessman filed Rs 5.5 crore cheating and cheque bounce cases against him.

As per the case, the complainant, who was running an NGO ‘Warrior Foundation’, met the accused Sunildas Prabhakaran through a common friend and over the period of time developed “trust” for him. Prabhakaran claimed to be the founder of Muthalamada Charitable Trust in Kerala.

The complainant alleged that in September 2018, the accused told him that the latter’s trust wants to give a reward of Rs 25 crore to his NGO for the social work. He claimed to have received a cheque in an event attended by ex-ISRO chairman Madhavan Nair.

However, a few days later, Prabhakaran asked not to deposit the cheque, said the businessman, adding that he said that the trust had a loan and without clearing it, the cheque would not be honoured. He further alleged that Prabhakaran sought help to clear the loan and tricked him into paying a total of Rs 5.5 crore.

A year later, the accused gave cheques to return the financial aid, said the complainant, adding that he again asked not to deposit them. He alleged that over a period of time, Prabhakaran gave false assurances and did not return the funds. Seeking bail, the accused’s lawyers, Sadanand Shetty and Snehal Khairnar, contended that along with the cheating case, the complainant has also filed cases for cheque bouncing.

Granting bail, the court observed, “The chargesheet has been filed and the investigation is over. Therefore, there is no point in keeping the applicant behind the bars for an indefinite period.”

It added, “It is true that similar types of crimes are registered against the applicant in Kerala, but the bail cannot be denied merely because of similar types of offences and the fact that he is from another state.”

Mumbai, Oct 11: Indian equities ended the week on a positive note amid buying in banking, IT, and pharma stocks (in the last two sessions).

Investors’ sentiment remained firm toward banking stocks during the period, buoyed by the RBI monetary committee decision to keep the repo rate unchanged at 5.5 per cent, and it improved further after the government invited private sector professionals to lead the State Bank of India.

Meanwhile, pharma stocks picked up momentum at the end of the week after the US administration said that they do not plan to impose tariffs on generic drugs and signalled cutting biotech ties with flagged foreign firms, especially from China.

“Pharma stocks rallied as the US revived the Biosecure Act, aiming to cut biotech ties with flagged foreign firms, especially from China, providing a strong boost to Indian CDMOs. With the earnings season underway, investors are closely watching quarterly results for cues on market direction,” said Vinod Nair, Head of Research, Geojit Investments Limited.

On Friday, Indian equity benchmark indices ended higher for the second straight session, supported by strong buying in pharma and banking stocks.

Because of the weakness in IT stocks, the Sensex opened at 82,07,5 down about 100 points. But it quickly bounced back, rising 579 points to an intra-day high of 82,654.

At 82,501, the index ultimately closed 329 points higher, or 0.4 per cent higher. Likewise, the Nifty reached a peak of 25,331 during the day and ended the day 104 points, or 0.4 per cent, higher at 25,285.

“Investor sentiment improved after the government invited private sector professionals to lead the State Bank of India. This marks a broader policy shift towards allowing private participation in public sector enterprises, aimed at enhancing efficiency and governance,” Nair added.

The Nifty index displayed strong bullish momentum over the past week, advancing 391 points or 1.57 per cent, while Sensex rallied over 1,000 points or 1.35 per cent.

“On the weekly chart, the index has formed a cup and handle pattern, and a decisive break out of this formation, supported by increasing volumes, would signal the potential for further sustained upside,” said Hardik Matalia of Choice Equity Broking.

The Bank Nifty (up 1.84 per cent), Nifty IT (up 4.8 per cent) and Nifty Pharma (up 2.12 per cent) fueled the market momentum this week.

Mumbai: The Bombay High Court on Friday reserved its order on a plea filed by Bollywood actor Sunil Shetty seeking protection of his personality rights and an injunction against unauthorised use of his name, image, and likeness on social media and various websites.

A single-judge bench of Justice Arif S Doctor briefly heard arguments from senior advocate Birendra Saraf, representing the 64-year-old actor, and remarked that “it is scary what people can do with the unregulated use of AI on social media.” The court is expected to pass an ex parte ad-interim order in due course.

Shetty, who has acted in over 100 films, has filed a commercial intellectual property rights infringement suit against several social media platforms, websites, and unknown persons (John Doe defendants) for what he described as “extensive and ongoing infringement and unauthorised commercial exploitation” of his persona.

The plea highlights that his photographs and deepfake images, including those with his grandchild, were being used for commercial gain by real estate agencies, gambling and astrology websites, and merchandise sellers — all without his consent or authorisation.

Some of these instances involve AI-generated content, including deepfake videos and counterfeit merchandise like T-shirts and posters featuring his image.

Saraf submitted that such unauthorised usage and impersonation dilute the actor’s reputation, goodwill, and contractual commitments with third parties. “The infringement acts are causing irreparable harm to the plaintiff’s immense goodwill built carefully over the years,” the plea stated.

It further argued that the business models of such websites were designed to unlawfully monetise Shetty’s persona and “debase the goodwill and reputation that the plaintiff has cultivated over many years.”

The actor has sought a permanent injunction restraining all defendants from misusing his personality rights — including his name, image, likeness, voice, or any other attributes — in any form, especially through AI-generated or deepfake content.

He has also sought directions to take down infringing content and prohibit the manufacture or sale of counterfeit merchandise using his likeness.

Justice Doctor had earlier, while granting interim relief to singer Asha Bhosle in a similar plea, observed that using AI tools to imitate a celebrity’s voice without consent violates their personal rights.