INDRAKUMAR PURANMAL BANSAL Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Apprehending arrest in connection with C.R. No.264 of 2020 registered with Khadki Police Station for offences punishable under Sec. 177, 406, 408, 417, 418, 420, 426, 468, 120(B) read with Sec. 34 of the Indian Penal Code, 1860 and Sec. 3 and 4 of the Maharashtra Protection of Interest of Depositors Act, 1999, the applicants are seeking relief under Sec. 438 of the Criminal Procedure Code, 1973.

(2.) According to the prosecution, auditor noticed illegalities in disbursement of loan for period of 2012 to 2018. It is alleged that the managing committee members of the society misappropriated amount of Rs.3,41,87,328.00, thereby cheating the investors/members of the society.

(3.) The applicants, therefore, filed applications under Sec. 438 of the Criminal Procedure Code, 1973 before learned Sessions Judge. Learned Sessions Judge by order dtd. 20/11/2020 rejected the applications. Aggrieved thereby, the applicants have filed present anticipatory bail application.