In a significant ruling, a Thane court sentenced financial advisor Mateshwar Rajpat Giri to two years of rigorous imprisonment and imposed a fine of ₹30 lakh (approximately $36,000 USD) for criminal breach of trust. The case arose when a woman, who had lost her husband and brother in a road accident, invested her entire compensation amount and proceeds of ₹51.5 lakh from selling a commercial shop with Giri between July 2017 and April 2018, expecting an annual return of 12% through mutual funds. Although Giri paid dividends until January 2021, he defaulted on the principal amount, leaving an outstanding balance of ₹32.46 lakh. The court found that while Giri had initially paid dividends, this did not indicate a dishonest intention from the start, leading to his acquittal on cheating charges. However, he was convicted under Section 406 of the Indian Penal Code for breach of trust. The judge also noted that charges under the Banning of Unregulated Deposit Schemes Act could not be applied, as the law was enacted after the alleged offence occurred.