Ramhari Jagannath Pawar v. State of Maharashtra
Case brief
What is this about?
MPID bail application; Section 3 Maharashtra Protection of Interest of Depositors Act 1999; Sections 420 406 read with 34 IPC; C.R. No.0589 of 2022 Sangli Police Station FIR 24/08/2022; investor deposit fraud Rs. 18 Crores; beneficiary amount Rs.9,99,999/-; deposit undertaking Rs.1,00,000/- and Rs.4,00,000/-; parity with released Accused Nos.1 and 3; custody over one year since 25 October 2024; investigation complete charge-sheet filed; P.R. Bond Rs.50,000/-; weekly Monday reporting Sangli Police Station; passport surrender; Special Court MPID Court orders; Bombay High Court Kolhapur Circuit Bench; Vrushali V. Joshi J; February 2026; Accused No.4 Director; Dyneshwar Krushnadev Hipparkar Managing Director.
What did the court decide?
Release on bail on furnishing a P.R. Bond of Rs.50,000/- with one or more local sureties in the like amount, subject to conditions: attendance at Sangli Police Station once a week every Monday between 11.00 a.m. and 1.00 p.m.; no inducement, threat or promise to any person acquainted with the facts so as to dissuade disclosure, and no tampering with evidence; furnishing contact number and residential address to the Investigating Officer and keeping him updated of changes; surrender of passport, if any; and the deposits being without prejudice to the Applicant's rights and contentions before the MPID Court and subject to its orders.