REKHA RAMDAS JADHAV 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, 465, 467, 468 read with 34 of the Indian Penal Code (hereafter 'IPC' for short) and under Sec. 3 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999, ('MPID Act', for short) registered on 17/12/2020 vide C.R. No.I-630 of 2020 with Mahatma Phule Chowk Police Station.

(3.) Learned APP opposed the application for bail. Learned APP invited my attention to the affidavit affirmed by Sachin B. Patre, Assistant Police Inspector attached to Mahatma Phule Chowk Police Station, Kalyan (West), district Thane. It is submitted that on the promise that investments made by the investors will double in 18 months, the applicant along with other accused have duped several investors of their hard earned money. It is submitted that the applicant has played an active part in the commission of the offence in inducing the investors to invest in the ATM Multi Trade Services Company. There are specific allegations of the complainant and other witnesses that they had given Rs.40,50,000.00 to the present applicant-accused for investment. The total amounts invested with the five accused is to the tune of Rs.2,80,75,000.00.