41.WP.2876.2025.doc HARSHADA H. SAWANT (P.A.) IN IN THE THE HIGH HIGH COURT COURT OF OF JUDICATURE JUDICATURE AT AT BOMBAY BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPELLATE JURISDICTION WRIT PETITION NO.2876 OF 2025 Nilamkumar Popatlal Bhandari and Ors. .. Petitioners Versus The State of Maharashtra and Anr. .. Respondents ....................  Mr. Harsh Rathod a/w. Mr. Nitin Gaware Patil, Advocates i/by Mr. Jay Salunkhe for Petitioners.  Mr. Yogesh Nakhwa, APP for Respondent No.1 – State.  Mr. Bajrang M. Solanke, Advocate i/by Mr. Prashant Darandale for Respondent No.2.  WPC 9227 – Priyanka Pawar, Economic Offences Wing (Pune City).  Parties appearing through Video Conferencing. ................... CORAM : MILIND N. JADHAV, J. DATE : AUGUST 20, 2026 P.C. : 1. Heard Mr. Rathod, learned Advocate for Petitioners; Mr. Nakhwa, learned APP for Respondent No.1 – State and Mr. Solanke, learned Advocate for Respondent No.2. 2. Petition is filed under Articles 226 and 227 of the Constitution of India read with Section 528 of the Bharatiya Nagrik Suraksha Sanhita, 2023 for quashing of First Information Report bearing Crime No.165 of 2024 dated 17.10.2024 registered with Market Yard Police Station, Pune City for offences punishable under Sections 409 and 420 read with Section 34 of the Indian Penal Code, 1860 and Sections 3 and 4 of the Maharashtra Protection of Interest of 1 of 4 41.WP.2876.2025.doc Depositors Act, 1999. 3. Separate Affidavits of all 6 Investors of having received their monies are appended to the Petition which are placed from page Nos.84 onwards. I have perused the same with the able assistance of the learned Advocate for the Petitioners and Respondent No.2 and learned APP for Respondent No.1. 4. Police has also filed report dated 19.08.2026 which is handed over by learned APP, inter alia, stating that monies have been received according to the Consent Terms, copy of which is appended from page No.68 onwards. It is seen that Consent Terms were infact filed on 29.04.2025 and there are statements made in the said Consent Terms that certain amounts will be received after signing of the Consent Terms. Mr. Rathod informs the Court that the all the terms and conditions of the said Consent Terms stands duly complied with and the Investors have got back all their money. 5. In that view of the matter, they would all persuade the Court to quash the present criminal proceeding. Petitioners who are original Accused Nos.1 and 2 are appearing through Video Conferencing and their Power of Attorney Holder Kiran Popatlal Bhandari is present in person before the Court. They inform the Court that the issues have been settled fully and the monies have been returned albeit a little late. 2 of 4 41.WP.2876.2025.doc 6. In that view of the matter and report dated 19.08.2026 by Mr. Nakhwa, there cannot be no impediment in putting an end to the present case. 7. Writ Petition therefore deserves to be allowed. Hence, Writ Petition is allowed in terms of prayer clause (B) which reads thus:- “(B) Quash and set aside the impugned criminal prosecution in the nature of F.I.R. bearing Crime No. 165/2024 dated 17.10.2024 registered with Market Yard Police Station, Pune for an offence punishable U/Sec. 409, 420 r/w 34 of Indian Penal Code and U/Sec. 3 and 4 of the Maharashtra Protection of Interest and Depositors (in Financial Establishments) Act, 1999 the petitioners and further proceedings based upon said FIR also may kindly be quashed and set aside and for that purpose issue necessary orders.” 8. However, I am of the opinion that determining the present matter without any costs on the parties will not be appropriate course of action since the parties have set the criminal law into motion. Hence, I direct the Petitioners to pay costs of Rs.50,000/- to A.K. Munshi Yojana’s J.T. Sheth Mandbuddhi Vikas Kendra, a Special School imparting education and training to the needs of 150 special children in the field of Education (Classes for 6 to 18 years), early intervention (upto 6 years) and vocational training (18 years above) having its school address and building at A.K. Munshi Yojana Chowk, 3rd Panjarapole Lane, C.P. Tank, Mumbai – 400 004 [Contact Nos. 22425513 / 22423654] registered under the Society Registration Act, XXI of 1980 under No. : 387/81 GBBSD and the Public Trust Act, XXIX 3 of 4 41.WP.2876.2025.doc of 1950 under No. F-6809. RCI Reg. No. 0163 within a period of two weeks from today. List the Petition for compliance of this order after two weeks on 03rd September 2026. 9. With the above directions, Writ Petition is disposed. H. H. SAWANT [ MILIND N. JADHAV, J. ] 4 of 4 HARSHADA HANUMANT SAWANT Digitally signed by HARSHADA HANUMANT SAWANT Date: 2026.08.21 15:10:53 +0530