MILIND Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard Shri Dharmadhikari, learned Senior Counsel with Shri Shukul, learned counsel for the applicant and Shri Jawade, learned Additional Public Prosecutor for the State, through Video conferencing.

(2.) The applicant is said to be arrested on 09/08/2019 in connection with Crime No. 367/2019 registered at Police Station Hudkeshwar, District Nagpur for the offence punishable under Sections 406 , 409 , 420 , 465 , 467 , 468 , 471 and 120-B of the Indian Penal Code.

(3.) The case of the prosecution is that the applicant being Chairman of the Anand Sai Urban Credit Co-operative Society misappropriated the funds of the society and caused loss to the society to the tune of Rs. 4 Crores 58 lakhs. According to the prosecution one agreement was executed between Sau. Trupti Milid Ghogare and the society for the sale of the property situated at Mauza Valahari, for total amount of Rs. 3,59,80,000/-. At the time of cancellation of said agreement Rs. 2,70,00,000/- have been refunded to the society by the land owners i.e. Trupti Ghogare by cheques. In this way society suffered a loss of Rs. 35 lakhs in the said transaction.