937-ABA-637-2026+.odt IN THE HIGH COURT OF JUDICATURE AT BOMBAY BENCH AT AURANGABAD ANTICIPATORY BAIL APPLICATION NO. 637 OF 2026 Bhagwant Chandrakant Thube VERSUS The State Of Maharashtra And Another ... Mr. A. M. Gaikwad, Advocate for Applicant Mrs. P. J. Bharad, APP for Respondents WITH ANTICIPATORY BAIL APPLICATION NO. 635 OF 2026 Santosh Gulabrao Thube VERSUS The State Of Maharashtra And Another … Mr. A. M. Gaikwad, Advocate for Applicant Mrs. P. J. Bharad, APP for Respondents WITH ANTICIPATORY BAIL APPLICATION NO. 75 OF 2026 Pramod Narayan Londhe VERSUS The State Of Maharashtra And Another … Mr. A. M. Gaikwad h/f Mr. N. M. Kalyane, Advocate for Applicant Mrs. P. J. Bharad, APP for Respondents WITH ANTICIPATORY BAIL APPLICATION NO. 362 OF 2026 Bhausaheb Baban Nawale VERSUS The State Of Maharashtra And Another … Mr. A. M. Gaikwad h/f Mr. N. M. Kalyane, Advocate for Applicant Mrs. P. J. Bharad, APP for Respondents 2026:BHC-AUG:23686 937-ABA-637-2026+.odt WITH ANTICIPATORY BAIL APPLICATION NO. 542 OF 2026 Udaykumar Balwant Sonawale VERSUS The State Of Maharashtra And Another … Mr. S. B. Pawar, Advocate for Applicant Mrs. P. J. Bharad, APP for Respondents WITH ANTICIPATORY BAIL APPLICATION NO. 227 OF 2026 Shamshuddin Gulabbhai Inamdar VERSUS The State Of Maharashtra … Mr. M. D. Shinde, Advocate for Applicant Mrs. P. J. Bharad, APP for Respondents ... CORAM : R.M. JOSHI, J DATE : JUNE 17, 2026 PC : 1. Applicants apprehend arrest in connection with C.R. No. 532/2024 registered with Police Station Parner, Dist. Ahilyanagar for the offences punishable under Sections 409, 420 read with Section 34 of the Indian Penal Code & Section 3 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act. 2. First information report came to be lodged on the basis of grievance made by member of Raje Shivaji Gramin Bigar Sheti Pat Sanstha Ltd claiming that during the period from 22.04.2022 to 14.02.2023, there is 937-ABA-637-2026+.odt embezzlement of Rs.66 crores from the investments of depositors. 3. Learned Counsels for Applicants submit that a special audit was conducted by the auditor and report was submitted on 11.10.2024 under Section 81(3)(c) of the Maharashtra Cooperatives Societies Act wherein a finding is recorded that during the relevant period, the chairman of Accused No. 1 – Society has not called any meeting of the board of directors and has taken a decision of affairs of society as if it is a private limited company. It is their submission that thereafter an enquiry was conducted under Sections 83 and 88 of the Maharashtra Cooperatives Societies Act and by report dated 05.08.2025, present Applicants/Directors were excluded and other 46 persons were held to be responsible for the act. It is their submission that having regard to the said facts, interim relief be confirmed. 4. Learned APP opposed applications contending that there is no dispute about the fact that Applicants were directors of the society. It is her submission that merely because a report is submitted under Sections 81, 83/88 of the Maharashtra Cooperatives Societies Act, it cannot be said that no offence has been committed by present Applicants. 5. There is material on record to indicate that pursuant to complaint, an enquiry was conducted under Section 81 of the Maharashtra Cooperatives Societies Act and report was submitted under Section 81(3)(c) thereof. In this report, it is held that the entire affairs of the society were 937-ABA-637-2026+.odt conducted by chairman and that no meeting was called of the board of directors. Similarly, there is further inquiry under Section 83 and 88 of the Act exonerating present Applicants from any liability. 6. This Court finds substance in contentions of learned Counsels for Applicants that merely because the Applicants are directors, they cannot be held responsible for the alleged embezzlement. Non participation in the meeting if amounts to breach of requirements/regulations under the Maharashtra Cooperatives Societies Act, Applicants may face action in that regard. However, once the findings is recorded that the Applicants were not concerned with the society, no criminal liability cannot be fasten upon them only for the reason that they are directors of the society. Moreover, there is no evidence to show that they participated in the transaction of the society or beneficiary of the crime. 7. As a result of above discussion, applications deserve to be allowed and the same are accordingly allowed in terms of interim orders dated 24.04.2026, 25.02.2026, 12.02.2026 & 05.03.2026 except clause nos. ‘i’, ‘b’ respectively & attendance to police station in ABA No. 362/2026. (R. M. JOSHI, J.) Malani