Bombay High Court

ANKUSH SAMPATRAO JADHAVversusSTATE OF MAHARASHTRA

Disposal: Allowed

Holding

The court confirmed and made absolute the interim anticipatory bail order, disposing the anticipatory bail application.

Summary

Ankush Sampatrao Jadhav, a director of a cooperative society, was implicated in alleged misappropriation of fixed deposits and false loan claims, leading to an FIR under IPC sections 406, 408, 409, 420, 34 and sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishment) Act, 1999. The applicant sought anticipatory bail and was granted interim bail on 27 April 2023 with conditions including a personal bond, surety, and regular attendance at the police station. The applicant cooperated fully with the investigating officer, appeared before the police, and the charge‑sheet (R.C.C. No.102 of 2023) was filed and is pending trial. The State argued that directors cannot evade responsibility, but no evidence was produced that the applicant violated any bail conditions. On the basis of the applicant’s cooperation and the absence of any breach, the court confirmed the interim bail order and made it absolute. Consequently, the anticipatory bail application was disposed of. The order also reiterated that any violation of the conditions would lead to cancellation of bail.

Issues considered

Whether the interim anticipatory bail granted to the applicant should be confirmed and made absolute in view of his cooperation with the investigation and absence of any breach of bail conditions.

Legislation cited

Indian Penal Code, 1860 — s. 34, 406, 408, 409, 420
Maharashtra Protection of Interest of Depositors (in Financial Establishment) Act, 1999 — s. 3, 4

Subjects

anticipatory bail
cooperative society
misappropriation of deposits
depositors protection act
IPC offences
bail conditions
cooperation with investigation

Judgment

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIRCUIT BENCH AT KOLHAPUR

CRIMINAL APPELLATE JURISDICTION

CR. ANTICIPATORY BAIL APPLN. NO. 1106 OF 2023

Ankush Sampatrao Jadhav …...Applicant
VERSUS
State Of Maharashtra …...Respondent

_________________________________________________________________

Mr. Sharad T. Bhosale a/w Ms. Sujata B. Lohar i/b Mr. Dilip Bodake, for
Applicant.
Dr. Ashvini A. Takalkar, A.P.P., for the Respondent-State.
PSI, Mr. A. S. Gurav, Satara Taluka Police Station, Satara, present.
_________________________________________________________________

Digitally
signed by
SHANTANU
SHANTANU SHANKARSA
SHANKARSA DHUDUM
DHUDUM Date:
2026.09.29
CORAM : ASHWIN D. BHOBE, J.
18:52:56
+0530

DATE : 29th SEPTEMBER, 2026.
P.C.

1. Heard Mr. Sharad T. Bhosale, learned Advocate for the Applicant

and Dr. Ashvini A. Takalkar, learned A.P.P. for the Respondent-State.

2. On 27th April 2023, the following order was passed:

“1. Heard learned Advocate for the Applicant and learned
APP for the Respondent-State.

2. The Investigating Officer is present.

3. The Applicant is a Director of the Suvarn Gramin Bigar
Sheti Shakari Pat Sanstha Maryadit, Songaon Turf,

Shantanu S. Dhudum
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Taluka and District Satara. There are in all 14
Directors and there is one Manager by the name Ashok
Nawadkar. The accounts of Pat Sanstha were audited
by Internal Auditor and he has found various
irregularities. One of such irregularity is that the
investors, who have invested the amount in fixed
deposit and on maturity their signature is taken with
assurance that they will be returned maturity amount,
however, it was not returned. The another allegation is
that towards that fixed deposit receipt, it is shown that
the depositors have obtained loan by pledging it and
there is an understanding that the amount be adjusted
towards loan, whereas the depositors have not
obtained the loan.

4. The Internal Audit report is submitted on 17th February
2023, by Shailesh Jadhav, Government Auditor. He has
opined that the Manager and Board of Directors are
responsible. On that basis, the first informant lodged
complaint on 6th March 2023, with Satara Taluka
police station, Satara under sections 406, 408, 409,
420 read with 34 of IPC, and also sections 3 and 4 of
Maharashtra Protection of Interest of Depositors (in
Financial Establishment) Act, 1999. Till today, one
Director and the Manager is arrested.

5. Learned APP pointed out to me one register thereby
pointing out minutes of meeting wherein only
signatures of the Directors are obtained and there is
blank space left and below that space only the
Manager has signed. According to learned APP, it is
suspicious. Statements of some of depositors are

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recorded. They have stated that they have not
obtained any loan.

6. Whereas according to learned Advocate for the
Applicant, the Applicant is an Advocate and in fact, the
entire business is handled by the Manager and during
Covid period, the Directors were not attending office
of Pat Sanstha and only the Manager used to grant
loan to needy persons. It is submitted that it is the
Manager only, who has misappropriated the amount.

7. For want of papers, learned APP is unable to state what
is discovered during the custodial interrogation of two
arrested accused persons. It is true that the Board of
Directors are also responsible for business of any
society. Even though, it may be true that the Manager
may be responsible for day-to-day activities but the
Directors cannot simply shun their responsibility by
shifting it towards the Manager.

8. Let the matter be hear at great length on the next date.

9. In view of above the Applicant is granted interim
protection and hence, the following order is passed :

ORDER

(a) In the event of arrest, the Applicant-Ankush
Sampatrao Jadhav be released on bail on
furnishing personal bond and surety bond of
Rs.15,000/- in connection with C.R. No.98 of 2023
registered on 6th March 2023, with Satara Taluka
police station, Satara under sections 406, 408, 409,
420 read with 34 of IPC, and also sections 3 and 4

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of Maharashtra Protection of Interest of Depositors
(in Financial Establishment) Act, 1999.

(b) The Applicant shall not threaten the prosecution
witnesses or allure them in any manner.

(c) The Applicant-Director to give attendance on every
Saturday to the Satara Taluka police station, Satara
on every Saturday from 10 am to 12 noon until
further orders.

(d) Needless to say, violating of the condition above
will make the Applicant liable for cancellation of
anticipatory bail, after notice to the Applicant.

10. Matter be kept on 19th June 2023.

11. All the parties to act on an authenticated copy of this
order.”

3. Mr. Sharad T. Bhosale, learned Advocate for the Applicant, states

that the Applicant has appeared before the Investigating Officer, Satara

Taluka Police Station, Satara, and fully cooperated with the investigation in

Crime No.98 of 2023.

4. Dr. Ashvini A. Takalkar, learned A.P.P. for the Respondent-State,

on instructions from the Investigating Officer, Satara Taluka Police Station,

states that the Applicant has appeared before the Investigating Officer and

has cooperated with the investigation of Crime No.98 of 2023. She further,

on instructions from the Investigating Officer, Satara Taluka Police Station,

Satara, states that upon completion of the investigation, the charge-sheet

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has been filed, which is registered as R.C.C. No.102 of 2023 and is pending

before the Court of the Judicial Magistrate First Class, Satara.

5. Mr. Sharad T. Bhosale, learned Advocate for the Applicant, states

that the Applicant is appearing before the Judicial Magistrate First Class,

Satara, in R.C.C. No.102 of 2023. He states that the stage of R.C.C. No.102

of 2023 is that of framing of charge.

6. In view of the above statements made by Mr. Sharad T. Bhosale,

learned Advocate for the Applicant, and Dr. Ashvini A. Takalkar, learned

A.P.P. for the Respondent-State, that the Applicant has cooperated with the

Investigating Officer, the charge-sheet has been filed and the same is now

pending before the Judicial Magistrate First Class, Satara, for trial, and

further considering that the Applicant was granted ad-interim bail on 27th

April 2023, with there being no allegations of the Applicant having violated

any of the bail conditions, the said order dated 27th April 2023 is hereby

confirmed and made absolute in terms of paragraph Nos. 9(a), (b) and (d).

7. Anticipatory Bail Application No.1106 of 2023 is disposed of.

( ASHWIN D. BHOBE, J.)

Shantanu S. Dhudum

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