MANIK MADHUKAR SARVE Vs. VITTHAL DAMUJI MEHER

JUDGEMENT

(1.) Leave granted.

(2.) The present appeal arises from the final judgment and order dtd. 13/10/2021 [Operative portion pronounced in Open Court on 13/10/2021, however the detailed Order was uploaded on the High Court's official website on 30/10/2021.] (hereinafter referred to as the "Impugned Order"), passed by a learned Single Judge of the High Court of Judicature at Bombay, Nagpur Bench (hereinafter referred to as the "High Court") in Criminal Application (BA) No.867/2021, whereby and whereunder respondent no.1 was released on bail in connection with Crime No.217/2019 registered with Police Station Kotwali, Nagpur for offences punishable under Ss. 409, 420, 467, 468, 471 and 120-B of the Indian Penal Code, 1860 (hereinafter referred to as the "IPC") and Sec. 3 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (hereinafter referred to as the "MPID Act"). Be it noted, we have dismissed connected petitions vide common Order dtd. 7/5/2024 in S.L.P. (Crl.) Nos.3946/2022 and 3938/2022. On even date, judgment was reserved in the instant appeal.

(3.) The case of the prosecution is that one accused viz. Khemchand Meharkure is the President of Jai Shriram Urban Credit Co-operative Society Limited (hereinafter referred to as the "Society") and he, in connivance with the co-accused, misappropriated an amount of Rs.79,54,26,963.00 (Rupees Seventy Nine Crores Fifty Four Lakhs Twenty Six Thousand Nine Hundred and Sixty Three). Also, it is projected in the charge-sheet that statements of 798 depositors further revealed that their deposits aggregating Rs.29,06,18,748.00 (Rupees Twenty Nine Crores Six Lakhs Eighteen Thousand Seven Hundred and Forty Eight) were not returned and the amount was misappropriated. The appellants herein are some of the depositors, who purportedly fell victim to the Society. The financial irregularities have been categorized by the prosecution under twenty-three different heads.