Akash Anil Surwade v. State of Maharashtra
Case brief
What is this about?
Thane MPID investment-fraud bail: Bombay HC (Dr. Neela Gokhale, J.) allows BA 1097/2025 of Akash Anil Surwade in C.R. No. I-9 of 2024, Mahatma Phule Chowk PS, Thane City (Sections 420, 406, 409 r/w 34 IPC; Section 3 MPID Act) — alleged inducement of 682 investors to invest Rs.31,68,54,500/- (fraud stated as Rs.31,68,54,000/-); main accused Deepak Ashok Gaikwad already on bail; Applicant's alleged role limited to employment (salary Rs.75,000/- p.m. from Nidhi Research Firm; 'Akash Tours and Travels' in his name; co-accused Darshan Bagul); custody since 15.03.2024 (~2 years), charges not framed, trial unlikely to conclude soon; released on PR bond Rs.50,000/- with conditions including monthly police-station reporting till framing of charges, passport deposit and no foreign travel without permission; bail earlier rejected by Additional Sessions Judge, Kalyan on 01.02.2025.
What did the court decide?
Applicant enlarged on bail on executing a PR Bond of Rs.50,000/- with one or two local sureties in the like amount, subject to: (ii) attendance at the concerned Trial Court on each and every date unless exempted; (iii) monthly attendance at the concerned Police Station on first Monday between 11:00 a.m. to 02:00 p.m. till charges are framed; (iv) deposit of passport, if held, with the Police Station; (v) no departure from India without permission of the Trial Court; (vi) no tampering with, influencing or contacting the complainant, witnesses or persons concerned with the case; (vii) informing latest place of residence and contact number to the Trial Court and Investigating Officer upon release and upon any change; (viii) cooperation with the conduct of the trial; (ix) any infraction entailing cancellation of bail.