39.ABA-2597.26.DOC IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION ANTICIPATORY BAIL APPLICATION NO. 2597 OF 2026 Vipul Vikas Kulkarni … Applicant V/s. State of Maharashtra & Anr. …. Respondents ______________________ Mr. Aditya S. Raktade (through VC), for the Applicant Mr. S. S. Ghag, APP, for the Respondent-State. Mr. Kashiraj V. Jadhav, GPSI attached to Baramati Taluka Police Station, Pune (R) present. ______________________ CORAM : MADHAV J. JAMDAR, J. DATED : 28 SEPTEMBER 2026 P. C. :- 1. Heard Mr. Raktade, learned counsel appearing for the Applicant and Mr. Ghag, learned APP appearing for the Respondent-State. 2. Learned counsel for the Applicant states that the dispute is predominantly of civil nature. He relies on order dated 5 February 2026 passed by this Court in case of co-accused Rangrao Anandrao alias Ananda Khondre in Anticipatory Bail Application No.3173 of 2025. He submits that the only role of the Applicant is that he has Page 1 PPN PRACHI PRANESH NANDIWADEKAR Digitally signed by PRACHI PRANESH NANDIWADEKAR Date: 2026.10.01 14:19:39 +0530 39.ABA-2597.26.DOC received in his account an amount of Rs.2,50,00,000/- was received in the account of the Applicant which is the loan amount taken from the Bank of Maharashtra by M/s. V. R. Traders and Suppliers i.e., the proprietary concern of Applicant Vipul Vikas Kulkarni. Out of the said amount of Rs.2,50,00,000/-, an amount of Rs.2,44,00,000/- has been transferred in the account of Nandeeni Agrotech Industries Pvt. Ltd. He submits that the entire amount is with the said company and, therefore, no offence as alleged by the Applicant has been committed. 3. On the other hand, learned APP strongly opposes the application. Learned APP states that the offence is very serious. Therefore, the custodial interrogation is necessary. 4. By the present Anticipatory Bail Application filed under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023, the Applicant is seeking pre-arrest bail in connection with CR No.172 of 2025 registered with the Baramati Police Station, Pune Rural, for the offences punishable under Sections 316(2), 316(5), 318(2), 318(3), 318(4), 319(2), 351(2), 351(3), 336(2), 336(3) and 3(5) of the Bharatiya Nyaya Sanhita, 2023. Page 2 PPN 39.ABA-2597.26.DOC 5. The prosecution case is set out in Paragraph No.2 of the Common Order dated 13 June 2025 passed by the learned Additional Sessions Judge, Baramati, District-Pune in Criminal Bail Application No.418 of 2025 and Criminal Bail Application No.419 of 2025 filed by the Accused No.1 and Accused No.2 i.e. present Applicant, which reads as under :- “2. As per FIR the prosecution story is as follows:- The informant lodged report, alleging that, Nandeeni Agrotech Private Limited is a company engaged in Milk business and its allied products. Informant Sau. Padmini Sonawane is a director of said company. Mr. Chandrashekhar Laxman Sonawane is another director of the company. In the month of January 2024 Mr. Chandrashekhar Sonawane became acquainted with Rangrao Anandrao Alias Ananda Khondre (Accused No.1/applicant) and Mr. Vipul Vikas Kulkarni (Accused No.2/applicant) out of business transactions. Accused No.1/applicant represented to Mr. Chandrashekhar Sonawane that, he runs a company at Kolhapur and he may be taken as an additional director in the company of informant, for expansion of business and progress of the company. He also assured that, he is ready to invest nonrefundable capital amounts, and he will remain nominal director. Accordingly, accused No.1 taken as an additional director in Nandeeni Agrotech Pvt. Ltd.. So as to win over confidence of both directors, accused No.1 had paid an amount of Rs. 83,00,000/- towards capital. While acting as additional director accused no. 1 gave proposal that, we would arrange capital upto Rs. 10 Crores, 20 Crores for expansion of business of the company. Both directors neglected said proposal. Again in the month of June 2024 accused No.1 personally visited office of company at Baramati and had a discussion with both the directors for expansion of business of company. He gave proposal to start new plant of company at village – Nigve Dumala, Tal. Karveer, Dist. Kolhapur. He also made representation that, Mr. Vipul Vikas Kulkarni - the proprietor of V.R. Traders (Accused No.2) is ready to invest an amount of Rs.2,44,00,000/-. He also made representation that, there is huge collection of milk in the area of Nigve Dumala. Believing the words of accused No.1 company of informant became ready to open new Page 3 PPN 39.ABA-2597.26.DOC plant. Thereafter, during period of 01/07/2023 to 09/07/2023 as per instructions of accused No.1, accused No.2 had transferred an amount of Rs.2,44,00,000/- in the account of company of informant. It is further alleged that, accused No.1 made representation to both directors of company that, he had selected the plot for new plant of company at Nigve Dumala and for purchasing plot as well as he is in need of money for purchase of machinery, other articles for said plant. Believing the words of accused No.1 an amount of Rs.2,57,37,000/- was transferred in the saving bank account of accused No.1 till 18/07/2024. After about two months the director of company visited village – Nigve Dumala and inquired about new plant, at that time accused No.1 gave evasive answers to Mr. Chandrashekhar Sonawane. On detailed inquiry directors of the company came to know that, accused No.1 is a fraudulent person and he has committed various offences of cheating and fraud and grabbed amount of crores of rupees from various peoples. They also came to know that, 30 to 35 offences of cheating, forgery, cheque bouncing are pending against accused No.1. Mr. Chandrashekhar Sonawane asked accused No.1 what he did of an amount of Rs.2,44,00,000/- and also told that, he has malign the image and reputation of company of informant, on which accused No.1 told that, he is police inspector, he will implicate both directors of company in false case. He also gave threats to kill. Both the directors of company came toDefault Paragraph Style know that, accused No.1 and accused No.2 in furtherance of their common intention misused the documents of company of informant, fabricated the documents, got prepared bogus seal in the name of company and obtained loan amount from Bank of Maharashtra, Branch – Kavla Naka, Kolhapur and said amount has been transmitted in the account of company of informant showing their own capital amount. Further as per contention of informant, both accused in furtherance of their common intention, committed forgery, cheating and grabbed amount of Rs. 2,57,37,000/-. The complaint was filed before Judicial Magistrate First Class, Baramati, on which directions were issued under Section 175(3) of B.N.S.S.. On that basis FIR has been registered.” 6. Paragraph nos.12 to 21 of the said order dated 5 February 2026 passed in ABA No. 3173 of 2025 are relevant which reads as under :- Page 4 PPN 39.ABA-2597.26.DOC “12. Perusal of the FIR shows that the Applicant represented that in the Kolhapur district he is conducting a Company and if he is inducted as Additional Director in the Company namely “Nandeeni Agrotech Industries Private Limited”, then he would provide finance for expansion of the Company. The FIR records that an amount of Rs.83,00,000/- has been provided by the Applicant. The FIR further states that the Applicant has represented that Accused No.2 – Vipul Vikas Kulkarni of M/s. V. R. Traders & Suppliers is ready to provide finance of Rs.2,44,00,000/- and the said amount was provided in the month of July 2024. 13. Perusal of the record shows that as a guarantee for said loan of Rs.2,44,00,000/-, in fact the properties of Wife of the Applicant i.e. of Yogita Rangrao Khondre were mortgaged with the Bank of Maharashtra. 14. Notice (Exhibit-G, Pages 209-211) issued by the Bank of Maharashtra under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, shows that loan has been taken by M/s. VR Traders and Suppliers i.e. proprietary concern of Accused No.2 - Vipul Vikas Kulkarni and Guarantors are the Wife of the Applicant i.e. Yogita Rangrao Khondre and another Guarantor is said Nandeeni Agrotech Industries Private Limited. 15. It is also an admitted position that the said loan amount of Rs.2,50,00,000/- was initially received in the account of Accused No.2 - Vipul Vikas Kulkarni, which is the loan amount taken from the Bank of Maharashtra by M/s. V. R. Traders and Suppliers i.e. the proprietary concern of Vipul Vikas Kulkarni. Thereafter, out of said amount of Rs.2,50,00,000/- an amount of Rs.2,44,00,000/- has been transferred in the account of Nandeeni Agrotech Industries Private Limited. 16. It is the submission of Ms. Chowdhary, learned Counsel that an amount of Rs.2,57,37,000/- has been siphoned off by the present Applicant and, therefore, said amount of Rs.2,44,00,000/- and additional amount has been taken away by the Applicant. 17. It is the submission of Mr. Ingale, learned Counsel for the Applicant that in fact Rs.83,00,000/- has been provided as initial capital amount by the Applicant. Thereafter, certain amounts were Page 5 PPN 39.ABA-2597.26.DOC provided aggregating to Rs.1,26,37,101/- and said amount of Rs.2,57,37,000/- is the initial capital investment as also profit. 18. In any case, prima facie, the dispute is of civil nature. This is a case where, the First Informant is the wife of another Director namely Chandrashekhar Sonawane. Said Chandrashekhar Sonawane has not filed FIR nor has given any statement to the Police. 19. Ms. Chowdhary, learned Counsel for the First Informant at this stage points out a Complaint dated 30th May 2025 (Pages 189-191) filed by the Husband of the First Informant i.e. one of the Director of said Nandeeni Agrotech Industries Private Limited. The said Complaint dated 30th May 2025 lodged by the Director of said Nandeeni Agrotech Industries Private Limited i.e. Chandrashekhar Laxman Sonawane (Husband of the First Informant) mentions that for arranging sanction of loan of Rs.2,50,00,000/-, Rs.10,00,000/- has been accepted by the Applicant and said Vipul Vikas Kulkarni. The contents of the said Complaint dated 30th May 2025 prima facie shows that the contents of FIR and contents of said Complaint are in variance with each other. 20. It is also relevant to note that the Applicant was appointed as Additional Director of “Nandeeni Agrotech Industries Private Limited” on 15th February 2024. Within a period of 6 days i.e. on 21st February 2024 the First Informant had resigned from the post of Additional Director. Thereafter, on 3rd October 2024 she has been inducted as Additional Director and on 4th October 2024 the Applicant resigned from the post of Additional Director. 21. There is total variance in the FIR and in the Complaint dated 30th May 2025 filed by the Husband of the First Informant i.e. another Director of said Nandeeni Agrotech Industries Private Limited. It is significant to note that the FIR has been lodged on 5th May 2025 and the said Complaint has been filed by said Chandrashekhar Sonawane on 30th May 2025 (Pages 189- 191).” 7. The above reasoning is also applicable to the present case. The dispute is of civil nature. There is a total variance in the F.I.R. and in the complaint dated 30 May 2025 filed by the husband of Page 6 PPN 39.ABA-2597.26.DOC the first informant i.e., another Director of M/s. Nandeeni Agrotech Industries Pvt Ltd. There are no other antecedents. 8. Accordingly, in the facts and circumstances, case is made out for grant of anticipatory bail by imposing following conditions :- O R D E R (a) In the event of arrest of the Applicant- Vipul Vikas Kulkarni in connection with C.R. No.172 of 2025 registered with the Baramati Taluka Police Station, District Pune, he be released on bail on his furnishing P.R. Bond in the sum of Rs.1,00,000/- with one or two solvent sureties each in the like amount. (b) The Applicant shall attend the concerned Police Station on 5th and 6th October 2026 between 11:00 a.m. to 02:00 p.m. and, thereafter twice in a month i.e. the First and the Third Sunday of every month between 11:00 a.m to 2:00 p.m., till filing of the Charge-sheet and shall cooperate with the investigation. (c) The Applicant shall furnish his cell phone number and residential address to the Investigating Officer and Page 7 PPN 39.ABA-2597.26.DOC shall keep the same updated, in case of any change thereto. (d) The Applicant shall not directly or indirectly make any inducement, threat, or promise to any person acquainted with the facts of the case so as to dissuade such a person from disclosing the facts to the Court or to any Police personnel. (e) The Applicant shall not tamper with the prosecution evidence and shall not contact or influence the Complainant or any witness in any manner. (f) The Applicant shall not leave India without prior permission of the learned Trial Court/Sessions Court. 9. The Anticipatory Bail Application is disposed of accordingly. 10. It is clarified that the observations made in this order are prima facie observations. [MADHAV J. JAMDAR, J.] Page 8 PPN