10. BA 3343-2026.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION BAIL APPLICATION NO. 3343 OF 2026 Swaminath Eknath Jadhav .Applicant Vs. The State of Maharashtra .Respondent Mr. Aniket Nikam a/w. Mr. Gadandeep Singh, Mr. Manjeet Lotankar & Mr. Raviraj Dhanawade, Advocates, for the Applicant Mr. Sukanta A. Karmakar, APP, for the Respondent – State Mr. Sameer Dabhade, PSI, Economic Offence Wing, Pimpri Chinchwad present CORAM : MILIND N. JADHAV, J. DATE : 01.09.2026 P. C. 1. Heard Mr. Nikam, learned Counsel for the Applicant and Mr. Karmakar, learned APP for the Respondent – State. 2. This Application is filed under Section 483 of the Bhartiya Nagarik Suraksha Sanhita, 2023 (for short “BNSS”) in connection with C.R.No. 564 of 2025 registered with MIDC Bhosari Police Station, Pune for offences punishable under Sections 316(2), 318(4), 336(2), 336(3), 337, 338, 339, 340(2) r/w. 61(2) of the BNSS. 3. The Applicant is indicted as Accused No. 5 in the present crime registered for cheating, breach of trust and forgery. Insofar as prima facie role of the Applicant qua cheating, breach of trust and forgery is Anand 1 of 5 ANAND SUDHAKAR SUDAME Digitally signed by ANAND SUDHAKAR SUDAME Date: 2026.09.01 21:12:36 +0530 10. BA 3343-2026.doc concerned, the same is not made out from the criminal investigation that is undertaken by the prosecution. Reading of the statement of the prosecution appended at page 2835 of the Application prima facie shows that the Applicant himself has been a victim of the investments made by the Applicant and his wife as also the offence which has been registered. Admittedly, the Applicant and his wife has jointly invested an amount of Rs.2.72/- crores with the Company of the principal Accused persons namely Shreyans Tours & Travels Limited. This particular Company of the principal Accused No.1 has received substantial deposits and insofar as the Applicant is concerned, even according to the prosecution case, the Applicant having received Rs.7.38/- crores from the investors has deposited the said amount with the Company of Accused No.1. There are 34 witnesses whose statements have been recorded. Insofar as the Applicant is concerned, save and except, one particular witness where the Applicant had accompanied the principal Accused persons and sought investment of Rs.5,00,000/- in cash, there is no other indictment of the Applicant insofar as his participation in inducing investors to deposit is concerned or shown by the prosecution. To the highest, the case of the prosecution is that because the Applicant, being a businessman and a man of means having invested and deposited deposit Rs. 2.72/- crores Anand 2 of 5 10. BA 3343-2026.doc with the Shreyans Tours & Travels Limited according to prosecution, he induced and influenced other investors to invest in the said Shreyans Tours & Travels Limited. The Applicant having invested a huge amount himself has executed the necessary contract with the Company of Accused No. 1 which is placed on record as also the Agreement for seeking returns. At the highest, the case of the prosecution qua the Applicant would be that of he being a person who may have influenced other investors to deposit amounts with the principal Accused No. 1 and his Company Shreyans Tours & Travels Limited, but that is not borne out from the record prima facie. 4. Considering the investigation carried out by the prosecution with regard to tracing of funds received by the Applicant and the Applicant having been shown to have transferred the same to the principal Accused No. 1’s Company even as per prosecution case itself, no further custody of the Applicant is required considering his incarceration from 10.09.2025 onwards. The Applicant has participated in the investigation and has made all disclosures. In that view of the matter, the Applicant has made out a case for grant of bail. 5. Hence, in view of above prima facie observations and finding, Bail Application of Applicant is allowed subject to the following terms and conditions:- Anand 3 of 5 10. BA 3343-2026.doc (i) Applicant – Swaminath Eknath Jadhav is directed to be immediately released from prison in connection with CR. No. 564 of 2025; (ii) Applicant is directed to be released on bail on furnishing P .R. Bond of Rs.50,000/- (Rs. Fifty Thousand only) with one surety of the like amount; (iii) Applicant shall report to the Investigating Officer at MIDC Bhosari Police Station, Pune once every month, on the first Monday of the month between 10:00 a.m. to 12:00 p.m. until commencement of trial and thereafter shall attend all dates of hearing before the Trial Court; (iv) Applicant shall cooperate with the conduct of the trial and remain present before the Trial Court on all dates, unless specifically exempted. Applicant shall not seek unnecessary adjournments. Any such conduct shall entitle the prosecution to apply for cancellation of bail; (v) Applicant shall not leave the State of Maharashtra without prior permission of the Trial Court; (vi) Applicant shall not influence any of the witnesses or tamper with the evidence in any manner; Anand 4 of 5 10. BA 3343-2026.doc (vii) Applicant shall keep the Investigating Officer informed of his current residential address and mobile telephone number and shall forthwith inform the Investigating Officer of any change in his residential address or mobile telephone number, as and when such change occurs; and (viii)Any breach or infraction of any of the aforesaid conditions shall entail cancellation of the bail granted to the Applicant. 6. It is clarified that the observations made in this order are limited for the purpose of granting bail only and I have not made any observations on merits of the case. The trial shall be adjudicated on the strength of the evidence led and strictly on its own merits being uninfluenced with any of the prima facie observations made hereinabove in this order. 7. Bail Application is allowed and disposed in the above terms. (MILIND N. JADHAV, J.) Anand 5 of 5