Dilwale 1 47-BA-776-26.odt IN THE HIGH COURT OF JUDICATURE AT BOMBAY BENCH AT AURANGABAD 47 BAIL APPLICATION NO. 776 OF 2026 Somnath Goarakh Pandit VERSUS State Of Maharashtra ….. Advocate for Applicant : Mr. Jadhav Satej S APP for Respondent-State: Mr. V. K. Kotecha ….. CORAM : SIDDHESHWAR S. THOMBRE, J. DATE : 22.06.2026 PER COURT : 1. Heard the learned counsel for the applicant and the learned APP for the Respondent-State. 2. By this application, the applicant seeks his release on bail in connection with Crime No. 0076 of 2024 registered with Gandhi Chowki Police Station, Latur, for the offence punishable under Sections 406, 409, 420, 201, 465, 467, 468, 471, and 34 of the Indian Penal Code, 1960 read with Sections 3 and 4 of the Maharashtra Protection of Interests of Depositors (In Financial Establishments) Act, 1999. 3. The brief facts of the prosecution case are that the applicant is cashier in Maheshwari Multipurpose Credit Co-operative Society, who in concert with one Bhimashankar Patil (Manager) committed embezzlement of funds of around Rs.8 Crore. It is alleged that they gained trust of other employees and depositors thereby misappropriating Dilwale 2 47-BA-776-26.odt funds under different heads of expenses. It is alleged that all the transactions were taken placed by the ID of present applicant. When the accused failed to return the amount, present offence came to be registered and applicant was arrested. 4. The learned counsel for the applicant submits that, according to the prosecution case, the applicant worked as a Cashier of the concerned Credit Society during the relevant period. It is alleged that the applicant was benefited to the extent of Rs.8,50,000/-. On the last occasion, this Court granted time to the learned counsel for the applicant to obtain instructions as to whether the applicant is willing to deposit the said amount. On instructions, the learned counsel submits that the applicant is ready and willing to deposit an amount of Rs.8,50,000/- within a period of three weeks. 5. The learned APP strongly opposed the application. He submits that the applicant, being a Cashier of the Credit Society, manipulated the records and made backdated entries. According to him, though initially the members of the Managing Committee were not arrayed as accused, the investigation subsequently revealed that the Board of Directors was also responsible for the affairs of the Credit Society. It is submitted that the applicant, along with the Directors, siphoned off an amount of about Rs.8 Crore belonging to the depositors of the Society. Therefore, considering the seriousness of the offence and the magnitude of the amount involved, no discretion deserves to be exercised in favour of the Dilwale 3 47-BA-776-26.odt applicant. 6. I have considered the submissions advanced by the learned counsel for the respective parties and perused the charge-sheet.There is no dispute that the applicant worked as a Cashier of the concerned Credit Society during the relevant period. The investigation papers indicate that the applicant was benefited to the extent of Rs.8,50,000/-. The applicant has expressed his willingness to deposit the said amount within a period of three weeks. As regards the remaining allegations, appropriate proceedings for recovery of the amount and attachment of the properties of the accused persons can be initiated by the competent authorities in accordance with law. 7. The investigation is completed and the charge-sheet has already been filed. In the circumstances, further custodial detention of the applicant does not appear necessary. Therefore, I am inclined to allow the application. ORDER (i) The application is allowed. (ii) The applicant - Somnath Goarakh Pandit shall be released on bail in connection with Crime No. 0076 of 2024 registered with Gandhi Chowki Police Station, Latur, for the offence punishable under Sections 406, 409, 420, 201, 465, 467, 468, 471, and 34 of the Indian Penal Code, 1960 read with Sections 3 and 4 of the Maharashtra Protection of Dilwale 4 47-BA-776-26.odt Interests of Depositors (In Financial Establishments) Act, 1999, on furnishing P.R. bond of Rs.15,000/- and a solvent surety in the like amount to the satisfaction of the Trial Court. (iii) The release of the applicant shall be subject to the condition that he shall deposit an amount of Rs.8,50,000/- before the concerned Court within a period of three weeks from today. (iv) The applicant shall also follow following conditions:- i. The applicant shall attend each and every date before the Trial Court unless specifically exempted. ii. The applicant shall not directly or indirectly make any inducement, threat or promise to any prosecution witness and shall not tamper with the prosecution evidence in any manner. 8. Needless to state that breach of any of the above conditions shall entitle the prosecution to seek cancellation of bail. 9. The observations made herein are prima facie in nature and the learned Trial Court shall not be influenced by the same while deciding the case on its own merits. 10. Bail before Trial Court. [ SIDDHESHWAR S. THOMBRE ] JUDGE