Bombay High Court
MANISHA ANANDRAO MAGARversusTHE STATE OF MAHARASHTRA AND ANOTHER
- Disposal
- Allowed
Holding
The court held that anticipatory bail must be granted as the applicant’s involvement was limited to receipt and deposit of funds with no evidence of participation in the alleged fraud.
Summary
Manisha Anandrao Magar applied for anticipatory bail fearing arrest in a case involving alleged financial fraud under the Bharatiya Nyaya Sanhita, 2023 and the Maharashtra Protection of Interest of Depositors Act, 1999. The prosecution alleged that she was a director of Lakshmikrupa Urban Nidhi Limited and had received Rs. 16,15,910 from the accused and the company, but there was no allegation that she lured investors or made any representations. The applicant demonstrated that the entire amount was deposited before the Special Judge and produced a receipt for the same. The court found no material indicating her participation in the fraudulent scheme and held that custodial interrogation was unnecessary. Consequently, the court granted anticipatory bail subject to a personal bond, sureties, reporting requirements, and a non‑tampering condition.
Issues considered
- Whether anticipatory bail should be granted to the applicant in view of the alleged offences under the Bharatiya Nyaya Sanhita, 2023 and the Maharashtra Protection of Interest of Depositors Act, 1999.
- Whether the applicant's role as a director and receipt of funds warrants custodial interrogation.
Legislation cited
- Bharatiya Nyaya Sanhita, 2023 — s. 316(2), 316(5), 318(4), 3(5)
- Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 — s. 3, 4
Subjects
- anticipatory bail
- financial fraud
- depositor protection
- bail conditions
- criminal procedure
Judgment
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIRCUIT BENCH AT KOLHAPUR
CRIMINAL APPELLATE JURISDICTION
CRIMINAL ANTICIPATORY BAIL APPLICATION NO. 415 OF 2026
Manisha Anandrao Magar … Applicant
Versus.
The State of Maharashtra & Anr. … Respondents
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Mr. Shubham Patil i/by Mr. Pratik G. Tare for the Applicant.
Dr. A. A. Takalkar, APP for the State.
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CORAM : ASHWIN D. BHOBE, J.
DATED : SEPTEMBER 21, 2026
P.C.:
1. Heard, Mr. Shubham Patil, learned Advocate for the Applicant,
and Dr. A. A. Takalkar, learned APP for the State.
2. By this Application, the Applicant seeks pre-arrest bail,
apprehending arrest in connection with Crime No. 241 of 2026
registered with Akluj Police Station for offences punishable under
Sections 318(4), 316(2), 316(5) and 3(5) of the Bharatiya Nyaya
Sanhita, 2023 and Sections 3 and 4 of the Maharashtra Protection of
Interest of Depositors (In Financial Establishments) Act, 1999.
3. Mr. Shubham Patil, learned Advocate for the Applicant, states that
there are eleven (11) accused in Crime No. 241 of 2026. The Applicant
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is Accused No. 4. He submits that the charge-sheet in Crime No. 241 of
2026 has been filed, registered as MPID Special Case No. 27 of 2026
and is pending before the Special Judge, Malshiras.
4. The prosecution case is that Somnath Kharade (Accused No. 1)
induced the informant to invest money by assuring high returns. On the
basis of the promise made by Accused No. 1, the informant and other
investors invested huge amounts with Accused No. 1 and in an entity
known as “Lakshmikrupa Urban Nidhi Limited”, wherein Accused No. 1
and other persons are shown as directors. The Applicant is shown as
one of the directors of “Lakshmikrupa Urban Nidhi Limited”.
5. Mr. Shubham Patil, learned Advocate for the Applicant, submits
that apart from the Applicant being shown as a director of
“Lakshmikrupa Urban Nidhi Limited”, the Applicant has no role in the
crime. He submits that there are no allegations against the Applicant of
luring investors or assuring any amount on investments made with
“Lakshmikrupa Urban Nidhi Limited”. He submits that an amount of Rs.
6,21,400/- has been received in the Applicant's account through the
account of her husband, Anandrao Hariba Magar (Accused No. 3 in
Crime No. 241 of 2026) and an amount of Rs. 9,94,510/- has been
received from the account of “Lakshmikrupa Urban Nidhi Limited” into
the Applicant's account. He submits that the Applicant has deposited a
total of Rs. 16,15,910/- before the Court of the Special Judge MPID /
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Additional Sessions Judge, Malshiras.
6. Mr. Shubham Patil, learned Advocate for the Applicant, states that
he has a receipt for the deposit of Rs. 16,15,910/- before the Special
Judge, MPID, Malshiras, and a copy of the same is produced to the
prosecution.
7. Dr. A. A. Takalkar, learned APP for the State, submits that the
Applicant's involvement in Crime No. 241 of 2026 is limited to receiving
the amount of Rs. 16,15,910/- in her bank account through the account
of Accused No. 3 (husband of the Applicant) and the account of
“Lakshmikrupa Urban Nidhi Limited” used by Accused No. 1 to cheat
the investors.
8. Perused the records.
9. Perusal of the FIR does not indicate that the Applicant lured any
investors or made any representations about any investment in
“Lakshmikrupa Urban Nidhi Limited”. Apart from the Applicant being
referred to as the Director, there is no material to indicate the
Applicant’s participation in the affairs of “Lakshmikrupa Urban Nidhi
Limited”. The Applicant apparently received Rs. 16,15,910/- from
Accused No. 3 and “Lakshmikrupa Urban Nidhi Limited”, which amount
the Applicant has deposited before the Special Judge MPID / Additional
Sessions Judge, Malshiras. Dr A. A. Takalkar, learned APP for the State,
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does not dispute this statement of deposit of the amount of Rs.
16,15,910/- by the Applicant before the Court of the Special Judge
MPID / Additional Sessions Judge, Malshiras
10. In view of the foregoing circumstances, the custodial
interrogation of the Applicant is not necessary in Crime No. 241 of
2026. This Application is therefore allowed on the following terms:
(a) In the event of arrest of the Applicant in the Crime No. 241
of 2026 registered with Akluj Police Station for offences
punishable under Sections 318(4), 316(2), 316(5) and 3(5) of
the Bharatiya Nyaya Sanhita, 2023 and Sections 3 and 4 of the
Maharashtra Protection of Interest of Depositors (In Financial
Establishments) Act, 1999, the Applicant shall be released on bail
upon furnishing a PR bond in the sum of Rs. 1,00,000/- (Rupees
One Lakh only), with two sureties in the like amount to the
satisfaction of the Investigating Officer, Akluj Police Station,
Solapur.
(b) The Applicant shall report and appear before the
Investigating Officer, Akluj Police Station, Solapur on 28th , 29th,
30th September 2026 and 1st October 2026 from 10:00 A.M. to
12:00 noon, and thereafter as and when required by the
Investigating Officer.
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(c) The Applicant shall not tamper with evidence in any
manner.
(d) The Applicant shall provide the Investigation Officer, Akluj
Police Station, Solapur with her residential address along with
proof, his contact number and must inform the Investigating
Officer of any changes to this information from time to time on
28th September 2026.
11. The observations made in this order are for the purpose of
deciding the Bail Application and will not have any impact on the
trial.
12. Anticipatory Bail Application No.415 of 2026 is allowed and
disposed of.
Digitally
(ASHWIN D. BHOBE, J.)
signed by
VAIBHAV
VAIBHAV RAMESH
RAMESH JADHAV
JADHAV Date:
2026.09.21
21:04:40
+0530
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