JANARDHAN ARVIND PARULEKAR Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard learned counsel for the applicant and learned APP for the State.

(2.) This is an application for bail in respect of the offence punishable under Ss. 420, 406 read with 34 of the Indian Penal Code (hereafter ' IPC ' for short) read with 3 of the Maharashtra Protection of Interests of Depositors (in Financial Establishment) Act, 1999 (hereafter 'the MPID Act' for short) registered on 15/5/2017 vide C.R. No.482/2017 with Hadapsar Police Station, Pune.

(3.) It is the accusation that the applicant is a director in the company namely 'Maitrya Plotters and Structure Pvt. Ltd.' that floated an investment scheme. The scheme failed and the investors could not be paid back their money.