NARAYAN SAIBU WAGHMODE Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Apprehending arrest in connection with FIR bearing C.R. No.36 of 2022 registered with Indapur Police Station for the offences punishable under Ss. 403 , 408 , 409 , 420 , 120-B of the Indian Penal Code, 1860 and under Ss. 5 and 6 of Prize, Chits and Money Circulation Schemes (Banning) Act, 1987 and under Ss. 21, 22, 23 and 25 of the Banning of Unregulated Deposit Schemes Act, 2019, the applicant is seeking relief under Sec. 438 of the Criminal Procedure Code, 1973.

(2.) According to prosecution from 2015 to 2019 accused persons started a chit fund wherein they were collecting money from depositors on monthly or half monthly basis. The accused collected Rs.25.00 lakh from the complainant. The accused persons purchased various properties with the money of depositors and misappropriated it for own use. Accordingly, offence was registered against the applicant and other accused.

(3.) The applicant filed application under Sec. 438 of the Criminal Procedure Code, 1973 before the learned Sessions Judge which has been rejected by order dtd. 7/7/2022. Aggrieved thereby, the applicant has filed present anticipatory bail application.