VAIBHAVKUMAR GANESHRAO PATIL Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) By this petition, the Petitioner is seeking directions to the Police to add the offence under Sec. 3 read with Sec. 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (for short, "MPID Act") in Crime No.369 of 2023 registered with Malkapur Police Station, District Buldhana.

(2.) It is Petitioner's contention that he along with other family members have deposited the amount with Unnati Mahila Nagari Sahakari Patsanstha, Malkapur and the same falls within the "term deposits", as defined under Sec. 2(c) of the MPID Act. It is further the Petitioner's contention that though there was assurance by the said Patsanstha i.e. Financial Establishment for return of money, but it was not. On said premise, at the instance of Petitioner, aforesaid crime has been registered, but the provisions of MPID Act have not been invoked. The Petitioner has pointed out that he along with some others have already applied to the Investigating Officer for invoking those provisions, but no steps were taken. The Petitioner has made a prima facie case about applicability of MPID Act.

(3.) We are aware that the Petitioner can agitate his grievance at the time of framing charge. However, we feel that if, investigation is proceeded without invocation of the MPID Act, if applicable, then there would be no sufficient material to substantiate the charge under MPID Act.