9 ABA NO. 892 OF 2025 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIRCUIT BENCH AT KOLHAPUR CRIMINAL APPELLATE JURISDICTION ANTICIPATORY BAIL APPLICATION NO. 892 OF 2025 Pravin Prakash Bhosale VERSUS State Of Maharashtra And Another … • Mr. Pravin Mengane, Advocate a/w. Mr. Mohan Chhagan Kumbhar, Advocate for the Applicant • Mr. A. S. Salgaonkar, APP for Respondent No. 1 – State • Mr. Ramnik Pawar, a/w. Mr. Parrej Nadaf, Advocates for Intervenor/Complainant … CORAM : MEHROZ K. PATHAN, J. DATED : 25.06.2026 PER COURT : 1. Heard learned counsel for the applicant, the learned APP for the respondent - State as also learned counsel for Intervenor / Complainant. 2. The applicant has approached this Court apprehending arrest in connection with C.R. No.362 of 2024 dated 18.06.2024 registered with Vadgaon Police Station, District Kolhapur, for the offences punishable under Sections 406, 409, 417, 420 and 120-B read with Section 34 of the Indian Penal Code, 1860. 3. The prosecution case, in brief, is that the first informant, who has been running a power-loom business at village Kondigre since 2015, suffered financial losses during the COVID-19 pandemic and was in search of financial assistance. He came into contact with Jhs/ 1/7 9 ABA NO. 892 OF 2025 accused Mahesh Rampure, who allegedly assured him that a loan of Rs.1 crore would be arranged through Sharanya Urban Multipurpose Nidhi Bank Ltd., Wathar Turf Vadgaon. Acting on such assurance, the informant allegedly paid Rs.1,00,000/- towards processing charges and Rs.4,000/- for opening a savings account. Thereafter, the accused induced him to complete various formalities including execution of documents and purchase of stamp papers on the assurance that the loan would be sanctioned. Though the accused subsequently issued a share certificate and passbook and represented that the loan amount would shortly be disbursed, no loan was ever sanctioned. Alleging that he had been dishonestly induced to part with money on false representations, the informant lodged the present FIR. 4. Learned counsel for the applicant submits that the applicant has been falsely implicated. It is submitted that eleven co-accused have already been granted bail. According to him, the applicant was not concerned with the day-to-day affairs of Sharanya Urban Multipurpose Nidhi Bank Ltd., Wathar Turf Vadgaon and did not hold any responsible post in the management of the bank. It is further submitted that the applicant's wife is suffering from serious ailments and the applicant himself has also been undergoing medical treatment. This Court had granted interim protection to the applicant by order dated 08.04.2025, which was subsequently continued by Jhs/ 2/7 9 ABA NO. 892 OF 2025 order dated 05.02.2026. During the subsistence of the interim protection, the applicant has complied with all the conditions imposed by this Court and has cooperated with the investigation. It is further submitted that the applicant, without prejudice to his rights and contentions, is willing to deposit a sum of Rs.1,50,000/- before the Trial Court to demonstrate his bona fides. The applicant has no established criminal antecedents and is ready to abide by any conditions that may be imposed. Hence, he prays that the application be allowed. 5. Per contra, the learned APP, supported by the learned counsel for the intervenor, strongly opposes the application. It is submitted that the applicant is the main accused and was the Chairman of Sharanya Urban Multipurpose Nidhi Bank Ltd., Wathar Turf Vadgaon. It is further submitted that the applicant, along with accused No.1 – Pradnya Pravin Bhosale and the other accused, entered into a criminal conspiracy and actively participated in the fraudulent transactions. According to the prosecution, the amount involved exceeds Rs.50 lakhs and no effective recovery has yet been effected. Therefore, custodial interrogation of the applicant is necessary for recovery of the misappropriated amount and for carrying the investigation to its logical conclusion. It is, therefore, prayed that the application be rejected. Jhs/ 3/7 9 ABA NO. 892 OF 2025 6. Learned counsel appearing for the intervenor further submits that another crime has also been registered against the applicant at Vadgaon Police Station. It is contended that if the applicant is granted anticipatory bail, there is every likelihood that he may influence the witnesses, tamper with the prosecution evidence and thereby prejudice the investigation. 7. I have carefully considered the rival submissions and perused the investigation papers made available by the learned APP. I have also gone through the orders passed by this Court dated 08.04.2025 and 05.02.2026 granting and continuing interim protection to the applicant, subject to certain conditions, including his attendance before the concerned police station. The learned APP, on instructions from the Investigating Officer, fairly submits that the applicant has complied with the conditions imposed by this Court and has attended the concerned police station as directed. 8. The medical documents placed on record indicate that the applicant has undergone serious medical treatment after allegedly attempting to commit suicide. Considering his medical condition, this Court had granted interim protection from arrest. During the period of such protection, the applicant has cooperated with the investigation and there is nothing on record to indicate that he has misused the liberty granted to him. Jhs/ 4/7 9 ABA NO. 892 OF 2025 9. The applicant has also expressed his willingness to deposit a sum of Rs.1,50,000/- before the Trial Court, without prejudice to his rights and contentions, to demonstrate his bona fides. Though it is alleged that the applicant has criminal antecedents, no material has been placed before this Court to substantiate the said contention. Considering the nature of allegations, the applicant's cooperation with the investigation during the period of interim protection, his medical condition and the fact that the investigation can be safeguarded by imposing appropriate conditions, I am of the opinion that this is a fit case to exercise discretion under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023. 10. Hence, the following order :- O R D E R i. The Anticipatory Bail Application is allowed. ii. In the event of arrest of the applicant Pravin Prakash Bhosale in connection with C.R. No.362 of 2024 dated 18.06.2024 registered with Vadgaon Police Station, District Kolhapur, for the offences punishable under Sections 406, 409, 417, 420 and 120-B read with Section 34 of the Indian Penal Code, 1860, he shall be released on bail on furnishing a P.R. Bond of Rs.50,000/- (Rupees Fifty Thousand only) with one or two solvent sureties in the like amount, to the satisfaction of the Arresting Officer/Investigating Officer. iii. The interim order dated 05.02.2026 is confirmed, subject to the following further conditions: Jhs/ 5/7 9 ABA NO. 892 OF 2025 A) The applicant shall attend the concerned police station and report to the Investigating Officer on every Saturday till framing of the charge, between 12:00 noon and 2:00 p.m. B) The applicant shall deposit a sum of Rs.1,50,000/- before the learned Trial Court within a period of three weeks from today, without prejudice to his rights and contentions. Failure to deposit the aforesaid amount within the stipulated period shall entail automatic vacation of the protection granted by this order. C) The Applicant shall also cooperate with the investigation. D) The applicant shall not directly or indirectly induce, threaten or promise any prosecution witness and shall not tamper with the prosecution evidence in any manner. E) The applicant shall furnish copies of his Aadhaar Card and PAN Card, along with his residential address, mobile number and the particulars of two close relatives, to the Investigating Officer and shall intimate any change therein during the pendency of the proceedings. 11. Needless to state that a single violation of any of the aforesaid conditions shall entitle the prosecution to seek cancellation of the anticipatory bail granted herein. Jhs/ 6/7 9 ABA NO. 892 OF 2025 12. The observations made herein are prima facie in nature and confined to the adjudication of the present anticipatory bail application. The Trial Court shall decide the case independently on its own merits, uninfluenced by any observations made in this order. 13. The Anticipatory Bail Application stands disposed of accordingly. ( MEHROZ K. PATHAN, J. ) Jhs/ 7/7