VIPUL VIKAS KULKARNIversusSTATE OF MAHARASHTRA AND ANR

                                                                            39.ABA-2597.26.DOC




             Digitally signed     IN THE HIGH COURT OF JUDICATURE AT BOMBAY
             by PRACHI
PRACHI       PRANESH
PRANESH      NANDIWADEKAR
NANDIWADEKAR
             Date: 2026.10.01
                                        CRIMINAL APPELLATE JURISDICTION
             14:19:39 +0530
                                 ANTICIPATORY BAIL APPLICATION NO. 2597 OF 2026

                      Vipul Vikas Kulkarni                           … Applicant
                      V/s.
                      State of Maharashtra & Anr.                    …. Respondents
                                 ______________________
                      Mr. Aditya S. Raktade (through VC), for the Applicant
                      Mr. S. S. Ghag, APP, for the Respondent-State.
                      Mr. Kashiraj V. Jadhav, GPSI attached to Baramati Taluka Police
                      Station, Pune (R) present.
                                                   ______________________


                                                   CORAM : MADHAV J. JAMDAR, J.
                                                   DATED : 28 SEPTEMBER 2026
                      P. C. :-

                      1.         Heard Mr. Raktade, learned counsel appearing for the

                      Applicant and Mr. Ghag, learned APP appearing for the

                      Respondent-State.


                      2.         Learned counsel for the Applicant states that the dispute is

                      predominantly of civil nature. He relies on order dated 5 February

                      2026 passed by this Court in case of co-accused Rangrao Anandrao

                      alias Ananda Khondre in Anticipatory Bail Application No.3173 of

                      2025. He submits that the only role of the Applicant is that he has




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received in his account an amount of Rs.2,50,00,000/- was

received in the account of the Applicant which is the loan amount

taken from the Bank of Maharashtra by M/s. V. R. Traders and

Suppliers i.e., the proprietary concern of Applicant Vipul Vikas

Kulkarni. Out of the said amount of Rs.2,50,00,000/-, an amount

of    Rs.2,44,00,000/- has been transferred in the account of

Nandeeni Agrotech Industries Pvt. Ltd. He submits that the entire

amount is with the said company and, therefore, no offence as

alleged by the Applicant has been committed.



3.    On the other hand, learned APP strongly opposes the

application. Learned APP states that the offence is very serious.

Therefore, the custodial interrogation is necessary.



4.    By the present Anticipatory Bail Application filed under

Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023, the

Applicant is seeking pre-arrest bail in connection with CR No.172

of 2025 registered with the Baramati Police Station, Pune Rural,

for the offences punishable under Sections 316(2), 316(5), 318(2),

318(3), 318(4), 319(2), 351(2), 351(3), 336(2), 336(3) and 3(5)

of the Bharatiya Nyaya Sanhita, 2023.




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5.      The prosecution case is set out in Paragraph No.2 of the

Common Order dated 13 June 2025 passed by the learned

Additional Sessions Judge, Baramati, District-Pune in Criminal Bail

Application No.418 of 2025 and Criminal Bail Application No.419

of 2025 filed by the Accused No.1 and Accused No.2 i.e. present

Applicant, which reads as under :-

      “2. As per FIR the prosecution story is as follows:- The informant
      lodged report, alleging that, Nandeeni Agrotech Private Limited is a
      company engaged in Milk business and its allied products. Informant
      Sau. Padmini Sonawane is a director of said company. Mr.
      Chandrashekhar Laxman Sonawane is another director of the
      company. In the month of January 2024 Mr. Chandrashekhar
      Sonawane became acquainted with Rangrao Anandrao Alias Ananda
      Khondre (Accused No.1/applicant) and Mr. Vipul Vikas Kulkarni
      (Accused No.2/applicant) out of business transactions. Accused
      No.1/applicant represented to Mr. Chandrashekhar Sonawane that,
      he runs a company at Kolhapur and he may be taken as an
      additional director in the company of informant, for expansion of
      business and progress of the company. He also assured that, he is
      ready to invest nonrefundable capital amounts, and he will remain
      nominal director. Accordingly, accused No.1 taken as an additional
      director in Nandeeni Agrotech Pvt. Ltd.. So as to win over
      confidence of both directors, accused No.1 had paid an amount of
      Rs. 83,00,000/- towards capital. While acting as additional director
      accused no. 1 gave proposal that, we would arrange capital upto Rs.
      10 Crores, 20 Crores for expansion of business of the company. Both
      directors neglected said proposal. Again in the month of June 2024
      accused No.1 personally visited office of company at Baramati and
      had a discussion with both the directors for expansion of business of
      company. He gave proposal to start new plant of company at village
      – Nigve Dumala, Tal. Karveer, Dist. Kolhapur. He also made
      representation that, Mr. Vipul Vikas Kulkarni - the proprietor of V.R.
      Traders (Accused No.2) is ready to invest an amount of
      Rs.2,44,00,000/-. He also made representation that, there is huge
      collection of milk in the area of Nigve Dumala. Believing the words
      of accused No.1 company of informant became ready to open new




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      plant. Thereafter, during period of 01/07/2023 to 09/07/2023 as
      per instructions of accused No.1, accused No.2 had transferred an
      amount of Rs.2,44,00,000/- in the account of company of informant.
      It is further alleged that, accused No.1 made representation to both
      directors of company that, he had selected the plot for new plant of
      company at Nigve Dumala and for purchasing plot as well as he is in
      need of money for purchase of machinery, other articles for said
      plant. Believing the words of accused No.1 an amount of
      Rs.2,57,37,000/- was transferred in the saving bank account of
      accused No.1 till 18/07/2024. After about two months the director
      of company visited village – Nigve Dumala and inquired about new
      plant, at that time accused No.1 gave evasive answers to Mr.
      Chandrashekhar Sonawane. On detailed inquiry directors of the
      company came to know that, accused No.1 is a fraudulent person
      and he has committed various offences of cheating and fraud and
      grabbed amount of crores of rupees from various peoples. They also
      came to know that, 30 to 35 offences of cheating, forgery, cheque
      bouncing are pending against accused No.1. Mr. Chandrashekhar
      Sonawane asked accused No.1 what he did of an amount of
      Rs.2,44,00,000/- and also told that, he has malign the image and
      reputation of company of informant, on which accused No.1 told
      that, he is police inspector, he will implicate both directors of
      company in false case. He also gave threats to kill. Both the directors
      of company came toDefault Paragraph Style know that, accused
      No.1 and accused No.2 in furtherance of their common intention
      misused the documents of company of informant, fabricated the
      documents, got prepared bogus seal in the name of company and
      obtained loan amount from Bank of Maharashtra, Branch – Kavla
      Naka, Kolhapur and said amount has been transmitted in the
      account of company of informant showing their own capital amount.
      Further as per contention of informant, both accused in furtherance
      of their common intention, committed forgery, cheating and grabbed
      amount of Rs. 2,57,37,000/-. The complaint was filed before
      Judicial Magistrate First Class, Baramati, on which directions were
      issued under Section 175(3) of B.N.S.S.. On that basis FIR has been
      registered.”


6.      Paragraph nos.12 to 21 of the said order dated 5 February

2026 passed in ABA No. 3173 of 2025 are relevant which reads as

under :-



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      “12. Perusal of the FIR shows that the Applicant represented that in
      the Kolhapur district he is conducting a Company and if he is
      inducted as Additional Director in the Company namely “Nandeeni
      Agrotech Industries Private Limited”, then he would provide finance
      for expansion of the Company. The FIR records that an amount of
      Rs.83,00,000/- has been provided by the Applicant. The FIR further
      states that the Applicant has represented that Accused No.2 – Vipul
      Vikas Kulkarni of M/s. V. R. Traders & Suppliers is ready to provide
      finance of Rs.2,44,00,000/- and the said amount was provided in the
      month of July 2024.

      13. Perusal of the record shows that as a guarantee for said loan of
      Rs.2,44,00,000/-, in fact the properties of Wife of the Applicant i.e.
      of Yogita Rangrao Khondre were mortgaged with the Bank of
      Maharashtra.

      14. Notice (Exhibit-G, Pages 209-211) issued by the Bank of
      Maharashtra under the provisions of the Securitisation and
      Reconstruction of Financial Assets and Enforcement of Security
      Interest Act, 2002, shows that loan has been taken by M/s. VR
      Traders and Suppliers i.e. proprietary concern of Accused No.2 -
      Vipul Vikas Kulkarni and Guarantors are the Wife of the Applicant i.e.
      Yogita Rangrao Khondre and another Guarantor is said Nandeeni
      Agrotech Industries Private Limited.

      15. It is also an admitted position that the said loan amount of
      Rs.2,50,00,000/- was initially received in the account of Accused
      No.2 - Vipul Vikas Kulkarni, which is the loan amount taken from the
      Bank of Maharashtra by M/s. V. R. Traders and Suppliers i.e. the
      proprietary concern of Vipul Vikas Kulkarni. Thereafter, out of said
      amount of Rs.2,50,00,000/- an amount of Rs.2,44,00,000/- has been
      transferred in the account of Nandeeni Agrotech Industries Private
      Limited.

      16. It is the submission of Ms. Chowdhary, learned Counsel that an
      amount of Rs.2,57,37,000/- has been siphoned off by the present
      Applicant and, therefore, said amount of Rs.2,44,00,000/- and
      additional amount has been taken away by the Applicant.

      17. It is the submission of Mr. Ingale, learned Counsel for the
      Applicant that in fact Rs.83,00,000/- has been provided as initial
      capital amount by the Applicant. Thereafter, certain amounts were




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      provided aggregating to Rs.1,26,37,101/- and said amount of
      Rs.2,57,37,000/- is the initial capital investment as also profit.

      18. In any case, prima facie, the dispute is of civil nature. This is a
      case where, the First Informant is the wife of another Director
      namely Chandrashekhar Sonawane. Said Chandrashekhar Sonawane
      has not filed FIR nor has given any statement to the Police.

      19. Ms. Chowdhary, learned Counsel for the First Informant at this
      stage points out a Complaint dated 30th May 2025 (Pages 189-191)
      filed by the Husband of the First Informant i.e. one of the Director of
      said Nandeeni Agrotech Industries Private Limited. The said
      Complaint dated 30th May 2025 lodged by the Director of said
      Nandeeni Agrotech Industries Private Limited i.e. Chandrashekhar
      Laxman Sonawane (Husband of the First Informant) mentions that
      for arranging sanction of loan of Rs.2,50,00,000/-, Rs.10,00,000/-
      has been accepted by the Applicant and said Vipul Vikas Kulkarni.
      The contents of the said Complaint dated 30th May 2025 prima facie
      shows that the contents of FIR and contents of said Complaint are in
      variance with each other.

      20. It is also relevant to note that the Applicant was appointed as
      Additional Director of “Nandeeni Agrotech Industries Private
      Limited” on 15th February 2024. Within a period of 6 days i.e. on
      21st February 2024 the First Informant had resigned from the post of
      Additional Director. Thereafter, on 3rd October 2024 she has been
      inducted as Additional Director and on 4th October 2024 the
      Applicant resigned from the post of Additional Director.

      21. There is total variance in the FIR and in the Complaint dated
      30th May 2025 filed by the Husband of the First Informant i.e.
      another Director of said Nandeeni Agrotech Industries Private
      Limited. It is significant to note that the FIR has been lodged on 5th
      May 2025 and the said Complaint has been filed by said
      Chandrashekhar Sonawane on 30th May 2025 (Pages 189- 191).”


7.      The above reasoning is also applicable to the present case.

The dispute is of civil nature. There is a total variance in the F.I.R.

and in the complaint dated 30 May 2025 filed by the husband of




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the first informant i.e., another Director of M/s. Nandeeni

Agrotech Industries Pvt Ltd. There are no other antecedents.

8.    Accordingly, in the facts and circumstances, case is made out

for grant of anticipatory bail by imposing following conditions :-

                              ORDER

      (a)    In the event of arrest of the Applicant- Vipul Vikas

             Kulkarni in connection with C.R. No.172 of 2025

             registered with the Baramati Taluka Police Station,

             District Pune, he be released on bail on his furnishing

             P.R. Bond in the sum of Rs.1,00,000/- with one or two

             solvent sureties each in the like amount.

      (b)    The Applicant shall attend the concerned Police

             Station on 5th and 6th October 2026 between 11:00

             a.m. to 02:00 p.m. and, thereafter twice in a month

             i.e. the First and the Third Sunday of every month

             between 11:00 a.m       to 2:00 p.m., till filing of the

             Charge-sheet     and    shall   cooperate    with    the

             investigation.

      (c)    The Applicant shall furnish his cell phone number and

             residential address to the Investigating Officer and




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            shall keep the same updated, in case of any change

            thereto.

      (d)   The Applicant 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 Applicant shall not tamper with the prosecution

            evidence and shall not contact or influence the

            Complainant or any witness in any manner.

      (f)   The Applicant shall not leave India without prior

            permission of the learned Trial Court/Sessions Court.

9.    The Anticipatory Bail Application is disposed of accordingly.


10.   It is clarified that the observations made in this order are

prima facie observations.


                                         [MADHAV J. JAMDAR, J.]




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