1 11,12,13&17-Cr.ABA-666-2026 IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR. CRIMINAL APPLICATION [A.B.A.] NO. 660 OF 2026 Anil s/o Gangadhar Podutwar -- VERSUS -- State of Maharashtra WITH CRIMINAL APPLICATION [A.B.A.] NO. 661 OF 2026 Vilas Damodharappa Rakhade -- VERSUS -- State of Maharashtra WITH CRIMINAL APPLICATION [A.B.A.] NO. 665 OF 2026 Sou. Shobha Motibhau Ghawade -- VERSUS -- State of Maharashtra and Another WITH CRIMINAL APPLICATION [A.B.A.] NO. 689 OF 2026 Kiran s/o Kesharao Pirke -- VERSUS -- State of Maharashtra and Another __________________________________________________________________________ Office Notes, Office Memoranda of Coram, appearances, Court's orders of directions Court's or Judge's orders. and Registrar's Orders. Mr. S.U. Dable Advocate h/f. Mr. U.P. Dable, Advocate for the Applicants. Ms. S.N. Thakur and Mr. H.D. Marathe, A.P.Ps. for the respective Non-applicant/State. CORAM : M.M. NERLIKAR, J. DATE : AUGUST 19, 2026. Heard. 2. Apprehending arrest, the applicants have approached this Court in connection with Crime No. 485/2025 for the Piyush Mahajan 2026:BHC-NAG:10748 2 11,12,13&17-Cr.ABA-666-2026 offences punishable under Sections 420, 417, 406, and 477-A read with Section 34 of the Indian Penal Code, 1860, and Section 3 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999, registered with Police Station Ner Parsopant, District Yavatmal. 3. The informant, appointed as Special Auditor, conducted a test audit of Ashtavinayak Co-operative Credit Society Ltd., Ner Parsopant, and submitted his audit report. It is alleged that the concerned Directors, General Managers, Branch Managers and borrower-members, in violation of the Act and the bye-laws, committed financial irregularities, including sanctioning irregular loans, failure to recover overdue loans and improper utilisation of depositors’ funds. According to the informant, these acts resulted in an accumulated loss of Rs.19,52,18,587.02 and an overall financial loss of Rs.28,04,82,874.02 to the Society. Based on this allegation, the First Information Report was lodged. 4. The learned counsel for the applicants submits that this Court has already granted anticipatory bail to similarly situated persons/directors in a batch of applications by order dated 28/04/2026. In the present applications, all the applicants have occupied the position of directors for different periods. Accordingly, he submits that the order dated 28/04/2026 passed Piyush Mahajan 3 11,12,13&17-Cr.ABA-666-2026 by this Court is squarely applicable to the present applicants as well. 5. On the other hand, the learned A.P.P. concedes this fact. 6. Under such circumstances, as already interim protection is granted to all the applicants vide order dated 27/07/2026, I am of the considered view that the reasons assigned in paragraphs 11, 12, 13 and 14 of the order dated 28/04/2026, wherein anticipatory bail has been granted to similarly situated directors in the same crime are squarely applicable to the present applicants. Paragraph Nos.11, 12, 13 and 14 reads as under:- “11. At this stage, it is necessary to mention here that audit was conducted by the informant of Ashtavinayak Credit Cooperative Society, Ner for the period from 1991-92 to 2023- 24. If the details given in the chart are perused, it would reveal that on different dates for different period, the Directors/Employees/Managers were appointed. The Investigating Officer is not in a position to show that what role was played by each of the accused during their tenure. He has submitted that the role can be crystallized only after the report from Forensic Auditor is received. It can thus be said that as on date except a bare statement of Investigating Officer nothing is available on record. 12. As regards the allegations in the FIR that interest @ 10 to 12 percent was offered to the depositors and therefore, the anticipatory bail is Piyush Mahajan 4 11,12,13&17-Cr.ABA-666-2026 required to be rejected, it can be said that for applicability of the Act of 1999, the question which will have to be answered is whether the promise made was practicable and viable in commercial world. Nothing has been brought on record to show that the rate of interest @ 10 to 12% for a particular period was impracticable or commercially not viable. The further contention of learned APP that no steps were taken to recover the amount and only the certificate under Section 101 of the Maharashtra Cooperatve Societies Act were obtained would not be a ground enough, in absence of particulars, to reject the anticipatory bail. As regards the applicability of the law laid down by the Hon’ble Apex Court in case of Delhi Race Club and Savada Merchant, it can be observed that although, the Hon’ble Apex Court has stated that offences under Sections 406 and 420 of the IPC are mutually exclusive, it would be too early to apply the said principle, to the case in hand, since the stage is of anticipatory bail only. The fact cannot be ignored that nothing is brought on record by the Investigating Agency that the applicants, as a Directors or the employee of the Society have embezzled certain amount. What is alleged, is violation of certain Circulars issued by the Cooperative Department. 13. Insofar as the argument advanced by learned appointed counsel that the applicants were responsible for day to day affairs of the Society, it can be said that prosecution has not brought any material in that regard to my notice. 14. The applicants are attending the police station from last more than four months and the Investigating Agency has also not disputed that they have cooperated with the Investigating Agency. Further, the fact that the applicants have given affidavit disclosing Piyush Mahajan 5 11,12,13&17-Cr.ABA-666-2026 the property acquired, except applicant Manoj Nalhe and Bhaurao Marotrao Dhawle, I do not find any reason to reject the applications.” In view of the aforesaid, I am inclined to allow the present applications. Hence, the following order: - O R D E R (i) The Criminal Applications are allowed and disposed of; (ii) The order dated 27/07/2026 is hereby confirmed on the same terms and conditions as incorporated in the said order; (iii) Pending Misc. Application(s), if any, also stand disposed of; (v) The observations of this Court are prima facie in nature and are only limited to this application. The trial Court shall not be influenced by the aforesaid observations. [ (M.M. NERLIKAR, J.) Piyush Mahajan Signed by: Piyush Ramesh Mahajan Designation: PA To Honourable Judge Date: 19/08/2026 16:46:22