Bombay High Court
INDRAJIT SHANKAR WAGHMARE AND ANRversusTHE STATE OF MAHARASHTRA AND ORS
- Decided
- Disposal
- Disposed Off
Holding
Anticipatory bail is granted to the applicants with conditions, as the allegations do not warrant pre‑arrest detention.
Summary
The applicants, Indrajit and Rajendra Waghmare, sought anticipatory bail under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023, in connection with a criminal case alleging conspiracy to fraudulently sell land belonging to the Pearls Aggrotech Corporation Limited (PACL) despite a Supreme Court order prohibiting such transactions. The prosecution alleged that the applicants purchased the land in 2017 using proceeds from the sale of their ancestral property, thereby violating the Supreme Court's Lodha Committee directions. The defence argued that the applicants were bona‑fide purchasers, that the land had no recorded prohibition at the time of purchase, and that they would cooperate with the investigation. The court examined the seriousness of the alleged offences, the prima facie evidence of a legitimate purchase, and the need to balance the rights of the accused with the interests of justice. Concluding that the applicants were not likely to tamper with evidence or influence witnesses, the court granted anticipatory bail subject to strict conditions.
Issues considered
- Whether anticipatory bail should be granted to the accused under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023 in a case involving alleged violation of a Supreme Court order and multiple IPC offences.
- Whether the applicants can be considered bona‑fide purchasers of the disputed land despite the Supreme Court's prohibition on its sale.
Legislation cited
- Bharatiya Nagarik Suraksha Sanhita, 2023 — s. 482
- Indian Penal Code — s. 120-B, 409, 419, 420, 465, 467, 468, 471
Subjects
- anticipatory bail
- Section 482
- fraud
- conspiracy
- Supreme Court order
- PACL land
- bona fide purchaser
- criminal procedure
Judgment
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
ANTICIPATORY BAIL APPLICATION NO.1270 OF 2026
1. Indrajit Shankar Waghmare …Applicants
2. Rajendra Shankar Waghmare
Vs.
1. State of Maharashtra
(Through Bavdhan Police Station, Pune)
2. Pandurang Vishwambhar Pawar …Respondents
3. Economic Offence Wing, Pimpri-
Chinchwad, Pune
Mr. Makarand Shinde, for the Applicants.
Mr. P.P. Jadhav, APP for the Respondent No.1-State.
Mr. Rohan Mahadik i/b Mekhala More and Ram Lolarakh Bind, for
the Respondent No.2.
API Sachin Ghate, EOW, Pimpri Chinchwad Police Station.
CORAM: MADHAV J. JAMDAR, J.
DATE : 1st OCTOBER, 2026
P. C.:
1. Heard Mr. Shinde, learned counsel appearing for the
Applicants, Mr. Mahadik, learned counsel appearing for
Respondent No.2-complainant and Mr. Jadhav, learned APP
appearing on behalf of the State.
2. By this application filed under Section 482 of the Bharatiya
Nagarik Suraksha Sanhita, 2023, the Applicants are seeking pre-
arrest bail in connection with C.R. No. 475 of 2025 registered with
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Bavdhan Police Station, Pimpri Chinchwad for the offences
punishable under Sections 409, 420, 419, 465, 467, 468, 471 read
with 120-B of the Indian Penal Code, 1860.
3. The prosecution case is set out in paragraph No.2 of the
order dated 8th April 2026 passed passed by learned Additional
Sessions Judge, Pune in Criminal Bail Application No. 7365 of
2025, which reads as under :-
“2. It is the prosecution case that in between 2015 to
2019, investors of the PACL Company were defrauded.
To facilitate the return of investment amounts, the
Hon'ble Justice Lodha Committee protected specific
land properties and prohibiting their sale, transfer, or
transaction. However, the accused persons namely
Akash Anand Chauhan, Chandrakant Ramchandra
Sanglikar, Nitin Narayan Thopte, Chandrakant
Basninga Bamne, Govardhan Baban Bandal, Pramod
Tukaram Chandere, Ravindra Murlidhar Chinchwade,
Indrajit Shankar Waghmare and Rajendra Shankar
Waghmare conspired and hatched a pre-planned
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conspiracy. They have created and brought in to
existence false, bogus and fake Sale-Deeds in respect of
disputed properties for their own benefit without
obtaining prior permission from the Hon'ble Justice
Lodha Committee. They have sold out and transferred
the properties by creating bogus documents and
thereby defrauded the PACL investors. Hence, the
informant lodged report.”
4. Perusal of the record shows that, as the investors on Pearls
Aggrotech Corporation Limited (“PACL”) Company were
defrauded, proceedings were filed and Supreme Court by order
dated 2nd February 2016 directed Securities and Exchange Board of
India to constitute committee for disposal of the land purchased by
the PACL so that sale proceeds could be paid to the investors who
had invested their funds in the company for purchase of the land.
The Supreme Court further directed that Hon’ble Mr. R.M. Lodha,
the former Chief Justice of India would be the Chairman of the
said Committee. Thereafter, on 25th July 2016, the Supreme Court
directed that PACL and/or its Directors, Promoters, Agents, etc.
shall not sell, transfer or alienate any of the properties in which
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PACL has, in any manner, any right or interest, whether situated
within or outside India.
5. The allegation against the present Applicants, as per the
prosecution case, is that on 24th March 2017, they purchased
agricultural land admeasuring 20 Ares out of Survey No. 160/16/A
from Crest Entertainment and Media Private Limited, for a
consideration of Rs.60,00,000/-, which property belonged to PACL
and Supreme Court by order 25 th July, 2016 inter alia prohibited
sale of PACL properties.
6. It is the submission of learned counsel appearing for the
Applicants that Applicant No.1 is working as a Office Boy and
Applicant No.2 is a Rickshaw Driver. Both of them inter alia sold
by a registered Sale-Deed dated 17th February 2016, their ancestral
land and received consideration of Rs.60,00,000/-. It is submitted
that by utilizing the said consideration received, the subject
property was purchased by registered Sale-Deed dated 24 th March
2017. It is further submitted that in none of the revenue records of
the property, it is mentioned that there is a prohibition for sale of
said land as directed by the Supreme Court. It is submitted that
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the Mutation Entry No. 10383 dated 24th January 2020 is made in
the revenue record, wherein it is stated that the Supreme Court
had directed not to sell the subject land. It is stated that the
purchase by the Applicants is on 24 th March 2017 and for the first
time, mutation entry is made in the revenue record on 24 th January
2020. It is, therefore, submitted that the Applicants are the
bonafide purchasers of subject property and are not involved in the
crime.
7. On the other hand, Mr. Jadhav learned APP as also Mr.
Mahadik, learned counsel appearing for the Respondent No.2-
complainant submitted that the offence is very serious, where the
directions issued by the Supreme Court not to sell the properties of
PACL have been violated. It is therefore submitted that custodial
interrogation is necessary.
8. Perusal of the record shows that the Applicants, inter alia
sold their ancestral land by a registered Sale-Deed dated 17 th
February 2016 and received consideration of Rs.60,00,000/-. By
utilising the said consideration, they purchased 20 Are land out of
land bearing Survey No. 160/16/A situated at Taluka Mulshi,
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District Pune by registered Sale-Deed dated 24 th March 2017. For
the first time in the revenue record, Mutation entry No. 10383 was
inserted on 24th January 2020 stating that the Supreme Court had
directed not to sell subject land.
9. Thus, prima facie, there is substance in the contentions
raised by Mr. Shinde, learned counsel appearing for the Applicants
that the Applicants are bona fide purchasers. He submits that the
Applicants will cooperate with the investigation. He, on
instructions, states that the Applicants will not create third party
interest with respect of the subject land.
10. Accordingly, the Anticipatory Bail Application is disposed of
by passing the following order :-
ORDER
(a) In the event of arrest of the Applicant No.1-Indrajit
Shankar Waghmare and Applicant No. 2-Rajendra
Shankar Waghmare, in connection with C.R. No. 475
of 2025 registered with Bavdhan Police Station,
Pimpri Chinchwad, the Applicants are directed to be
released on bail on their furnishing P.R. Bond in the
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sum of Rs. 30,000/-, each, with one or two solvent
sureties each in the like amount.
(b) The Applicants shall attend the concerned Police
Station on 12th October 2026 and 13th October 2026
between 11:00 a.m. to 02:00 p.m. and shall cooperate
with the investigation. In addition, the Applicants
shall attend the concerned Police Station as and when
called.
(c) The Applicants shall furnish their cell phone number
and residential address to the Investigating Officer
and shall keep the same updated, in case of any
change thereto.
(d) The Applicants shall not directly or indirectly make
any inducement, threat, or promise to any person
acquainted with the facts of the case so as to dissuade
such a person from disclosing the facts to the Court or
to any Police personnel.
(e) The Applicants shall not tamper with the prosecution
evidence and shall not contact or influence the
Complainant or any witness in any manner.
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11. The Anticipatory Bail Application is disposed of accordingly.
[MADHAV J. JAMDAR, J.]
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