1 18-Cr.ABA-673-2026 IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR. CRIMINAL APPLICATION [A.B.A.] NO. 673 OF 2026 Rajendra s/o Marotrao Jasutkar and Another -- VERSUS -- State of Maharashtra __________________________________________________________________________ Office Notes, Office Memoranda of Coram, appearances, Court's orders of directions Court's or Judge's orders. and Registrar's Orders. Mr. C.S. Dharmadhikari, Advocate and Mr. S.U. Dable, Advocate i/b. Vanguard Law Group for the Applicants. Mr. A.B. Badar, A.P.P. for the Non-applicant/State. CORAM : M.M. NERLIKAR, J. DATE : SEPTEMBER 08, 2026. Heard. 2. Apprehending arrest, the applicant has approached this Court in connection with Crime No.508/2025 for the offences punishable under Sections 318(4), 316(5), 316(2), 61(2), and 3(5) of the Bharatiya Nyaya Sanhita, 2023, and Section 3 of the Maharashtra Protection of Interest of Depositors (in Financial Establishment) Act, 1999, registered with Police Station Dhantoli, District Nagpur city. 3. The prosecution case, as stated in the First Information Report, is that the informant was induced by the accused persons to invest money in TWJ Associates Pvt. Ltd. on the representation that the invested amount would remain secure Piyush Mahajan 2026:BHC-NAG:11971 2 18-Cr.ABA-673-2026 and would yield substantial returns. Relying upon such representations, the informant invested an aggregate amount of Rs. 13,00,000/- in the said company between July 2024 to March 2025 whereby, the informant received monthly sum of Rs.8,120/- till April 2025, thereafter, the promised returns stopped. Upon inquiry with the Branch Manager, the informant was assured that the company has invested Rs.300 crore in Singapore wherein the company will receive Rs.1000 crore thereafter the informant would receive the amount upon receipt of funds from Singapore. However, despite of the repeated assurances, neither the invested amount nor the promised returns were paid to the informant. It is further alleged that when the informant demanded repayment, some accused persons allegedly threatened her with false implication in a criminal case. Based on these allegations, the informant lodged the present F.I.R. 4. The learned counsel for the applicant submits that the main culprits in the present case are Neha Narvekar and Samir Narvekar. Neha is the daughter of the applicants whereas Samir Narvekar is their son-in-law. It is alleged that the above mentioned culprits had started TWJ Associates Pvt. Ltd. They had asked their family friends and other persons to invest amounts in the abovementioned company. As an ordinary investment, even both the applicants have invested a huge amount in the company. Since the applicants were receiving Piyush Mahajan 3 18-Cr.ABA-673-2026 some handsome returns on their investments, they had intimated to other persons, pursuant to this other persons also invested substantial amounts in the company. He further submits that since 2019, the applicants and other investors had been investing amounts in the said company, and had received payout at the rate of 4%, which are duly credited to the account of the present applicants by the company; such payments continued until 2025. However, abruptly, the company stopped making the payment, thereafter, the investors started demanding repayment of their respective amount. As the company was not in a position to return the invested amount, the First Information Report came to be registered. He further submits that, being the father and mother, they have helped Samir and Neha in developing their business. It is further submitted that, had it been a case where the applicants had since inception intended to grab the amounts, the amounts would not have been paid to the investors from time to time. The applicant No.1 is suffering from blood cancer and applicant No.2, is a lady, and both are senior citizens. Therefore, he submits that, considering the role of the present applicants, the applicants deserve to be granted bail. 5. On the other hand, the learned A.P.P. vehemently opposes the application and submits that the applicants are the father-in-law and mother-in-law of the main accused – Samir. The applicants have induced the poor persons who have invested their hard-earned money in the TWJ Associates Pvt. Piyush Mahajan 4 18-Cr.ABA-673-2026 Ltd. He further submits that they were intending to enter into an agreement with respect to the franchise. He further submits that 61 investors have invested their hard-earned amounts/pensionary benefits in the company and ultimately, they have been duped by the company. Under such circumstances, he submits that the applicants are beneficiary of more than Rs. 28 lakhs and Rs. 59 lakhs, respectively. He submits that, although the applicant had invested some amount, they have received excess amounts, since they were working as an agent for the said company and had induced poor people to invest the amount in the said company. He further submits that the laptops were seized in connection with the present crime, from which certain franchise agreements were found. There are two such agreements which connect the present applicants with the said company, showing that the applicants had entered into franchise agreements with the said company. Under such circumstances, he submits that this is not a fit case for grant of anticipatory bail, since the custodial interrogation of both the applicants is necessary. 6. I have considered the rival submissions. This Court has already granted bail in Criminal Application [A.B.A.] No. 23/2026 to one Smt. Varsha W/o Sanjay Jasutkar and in Criminal Application [A.B.A.] No. 24/2026 to one Sanjay S/o Marotrao Jasutkar, by its common order dated 13/03/2026. They have been granted bail on the ground that there were no allegations against the said accused persons that they had Piyush Mahajan 5 18-Cr.ABA-673-2026 received any amount and in fact they were the victims of the present crime. Insofar as the observations in that order are concerned, they are not applicable in the present case. However, it is to be noted that after going through the record, prima facie, it appears that the applicants are involved in the crime. Further, it is to be noted that even the present applicants have invested a huge amount in the company. It also appears that the applicants have induced other persons to invest the amount in the company. In return, it appears that they have received a 4% amount as a payout, which was deposited in the accounts of the TWJ Associates. This Court has granted interim protection to the applicants by order dated 29/07/2026. Pursuant to that order, the applicants have attended the Police Station. However, the learned A.P.P. submits that the applicants have not cooperated in the investigation, as the applicants have not surrendered their mobile and laptop. To that, the learned counsel appearing for the applicant undertakes to hand over the mobile and laptop/computer. So far as the allegations against the applicants are concerned, the applicants are father-in-law and mother-in- law of the main accused – Samir. It appears that Neha and Samir have been arrested by the Investigating Agency and they are under custody. The learned A.P.P. submits that a supplementary charge-sheet would be filed against the applicants. Upon consideration of the above facts, one fact is clear that the applicants have received 4% of the amount as Piyush Mahajan 6 18-Cr.ABA-673-2026 payout from the amounts deposited by the victims. However, considering the relationship between the main accused persons and the present applicants, it appears that the present applicants, by trusting the main accused, i.e., Neha and Samir, have themselves invested the amount and also asked other persons to invest the amount. It is further to be noted that the Applicant No. 1 is suffering from cancer and is also a senior citizen, whereas Applicant No. 2 is a lady and aged more than 60 years. These facts weigh in favour of granting bail to the present applicants. Hence, the following order:- O R D E R (i) The Criminal Application is allowed and disposed of; (ii) The order dated 29/07/2026 is hereby confirmed on the same terms and conditions as incorporated in the said order, with a modification in attendance at the police station as they are required to attend the concerned Police Station twice a month, i.e., every alternate Saturday, between 12.00 noon to 02.00 p.m., or as and when called by the Investigating Officer, and they shall cooperate with the Investigating Agency; (iii) Pending Misc. Application(s), if any, also stand disposed of; [ (M.M. NERLIKAR, J.) Piyush Mahajan Signed by: Piyush Ramesh Mahajan Designation: PA To Honourable Judge Date: 09/09/2026 18:23:38