2023 (3) TMI 1526 - HC - Indian Laws

Application filed u/s 439 of the Code of Criminal Procedure, 1973 for grant of bail - offences punishable under Sections 420, 406, 408, 409, 468, 471 r/w 34 of Indian Penal Code and Sections 3, 4, 5 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 - HELD THAT - The applicant submits that pursuant to the order passed by this Court dated 14 February 2023, the applicant has deposited the said amount of Rs. 75,00,000/-. 6. Considering the facts and circumstances of the case and as the applicant is in jail for about three years, I am inclined to release the applicant on bail. The applicant - Suryaji Pandurang Jadhav be released on bail in Crime No. 26 of 2020 registered at Shivaji Nagar Police Station, Pune for the offences punishable under Sections 420, 406, 408, 409, 468, 471 r/w 34 of Indian Penal Code and Sections 3, 4, 5 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999, on furnishing P.R. Bond in the sum of Rs.25,000/- with one or two sureties in the like amount. Application allowed.

Summary

The Bombay High Court granted bail to the applicant, Suryaji Pandurang Jadhav, in a case involving fraud at Shivajirao Bhosale Sahakari Bank amounting to Rs. 496,46,19,130. The applicant deposited Rs. 75,00,000 as per court order and was released on bail upon furnishing a PR Bond of Rs. 25,000 with sureties.