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Synopsis

A Special CBI court in Mumbai in a 34 years old case has recently acquitted two individuals accused of conspiring to murder businessman Nusli Wadia. The court acquitted Ivan Sequeira and Ramesh Jagothia. 

The verdict was passed on Thursday by special CBI judge SP Naik Nimbalkar, who acquitted the accused due to lack of evidence while holding that the prosecution had failed to prove its case beyond a reasonable doubt. The accused were charged alongside Kirti Ambani and Arjun Babaria in 2003 for "criminally conspiring to murder Wadia, the then chairman of Bombay Dyeing," due to business rivalry.

Kirti Ambani, the prime accused in the case, passed away during the trial, while Babaria died while awaiting trial. The Maharashtra government transferred the probe to the CBI on August 2, 1989, but the trial began only in 2003. 

Following the verdict, Jagothia and Sequeira filed applications seeking time to furnish the surety, which were opposed by the CBI. The judge, however, granted them four weeks' time to furnish the surety, considering the difficulty submitted by the accused.

The accused were directed to furnish personal release and surety bond of Rs 15,000 each and one or more sureties in the like amount that would be kept until the appeal period expires for the CBI to challenge the acquittal in the Bombay High Court.

The judge also ordered the destruction of various articles, including a country-made revolver, a pistol, and seven unfired cartridges, that had been confiscated during the investigation, and directed them to be sent to the Mumbai Collector, after the appeal period is over.