SANTOSH ARUNRAO SURVASEversusTHE STATE OF MAHARASHTRA

2026:BHC-AUG:721
                                                    1                      933-BA-2095-25.odt



                         IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                    BENCH AT AURANGABAD

                                  BAIL APPLICATION NO. 2095 OF 2025

                                    SANTOSH ARUNRAO SURVASE
                                                 VERSUS
                                    THE STATE OF MAHARASHTRA
                                                     ...
                    Advocate for Applicant : Mr. V. D. Sapkal, Senior Advocate
                                           i/b. Mr. Yash Anil Jadhav
                                APP for Respondent : Mr. P. P. Dawalkar
                                                     ...

                                             CORAM :        SACHIN S. DESHMUKH, J.
                                             DATE       :   08-01-2026
                   PER COURT:-

                   1.   The applicant seeks regular bail in connection with Crime

                   No.209 of 2024 dated 30.05.2024 registered with Majalgaon Police

                   Station, District Beed, for the offences punishable under Sections

                   420, 409 read with Section 34 of the Indian Penal Code and

                   Sections 3 and 4 of the Maharashtra Protection of Interest of

                   Depositors (in Financial Establishments) Act, 1999.       In the said

                   crime, the applicant was arrested on 23.08.2024. After completion

                   of the investigation, the chargesheet has been filed.


                   2.   It is the case of prosecution that the informant that Co-

                   accused Suresh Dnyanoba Kute, Chairman, along with other

                   directors of Dnyanradha Multi State Co-operative Credit Society

                   Ltd., Beed, Branch Majalgaon, approached the informant. The

                   accused provided information about the society and allured

                   informant with a 12% p.a. interest rate on fixed deposits.
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Consequently, the informant opened savings and fixed deposit

accounts and deposited a total of Rs. 7,25,613/-. The informant

also invested Rs.1,23,000/- in recurring deposits in the names of

his five granddaughters. During the period from 09.09.2023 to

29.05.2024, the informant and other depositors collectively

invested Rs.74,24,137/- in the society. The informant and others

frequently demanded their invested amounts from the society;

however, the applicant and other co-accused allegedly committed

cheating and forgery. Hence, the report was lodged.


3.    The learned senior counsel for the applicant submits the

applicant has been falsely implicated in the offence with no

specific role attributed to him in the collection or misappropriation

of funds. The applicant worked solely as a Tax Officer, responsible

for tax compliance and record maintenance, and held no

administrative or management post within the society. As the case

relies on documentary evidence, those are already collected and

the chargesheet has been filed, further physical custody is

unnecessary. There is no evidence to establish a nexus between

the applicant and the alleged offence, and therefore, deserves to

be released on bail.


4.    The learned A.P.P. opposed the application, submitting that

the offence is serious and that prima facie material exists against

the applicant. The learned A.P.P. further expressed apprehension
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that releasing the applicant on bail would present a significant risk

of tampering with evidence and intimidating the informant and

witnesses. Hence, the rejection of the application was prayed for.


5.    Having heard the respective counsel from both the sides and

upon perusal of the material on record, including the charge sheet,

prima facie, indicates that the applicant is working as a Tax Officer

in the said society.       As such, his duties are limited to tax

compliance, filing of returns and maintaining record thereof.

Therefore,    the   applicant    was     not   directly   involved   in   the

management of day-to-day affairs of the society.


6.    Further, prima facie, there is hardly any material on record to

indicate that the applicant induced the informant or any other

customers to deposit and obtain the funds nor is there any

evidence to show whether the said funds were misappropriated by

him. Nonetheless, the said aspect can be rightly dealt with during

the trial. Moreover, the applicant deserves to be entitled for bail

on the ground of parity as well.

7.    Keeping in view the fact that the investigation is complete

and   the    chargesheet    is   filed   coupled    with    the   prolonged

incarceration of the applicant since 23.08.2024, further detention

of the applicant would be unjustified. The apprehension expressed

by the learned A.P.P. can be taken care of by imposing stringent

condition.
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8.          Hence, the order:-

                                        ORDER

(i)         Bail application is allowed.

(ii)        Applicant, Santosh Arunrao Survase, be released on bail on
            furnishing     P.B.   and   S.B.   of    Rs.50,000/-   (Rupees     Fifty
            Thousand), with one solvent surety of the like amount, in
            Crime No.209 of 2024 dated 30.05.2024 registered with
            Majalgaon Police Station, District Beed, for the offences
            punishable under Sections 420 and 409 read with Section 34
            of the Indian Penal Code and Sections 3 and 4 of the
            Maharashtra Protection of Interest of Depositors (in Financial
            Establishments) Act, 1999, on the conditions that;
      (a)     The   applicant      shall   not      pressurize   the   prosecution
              witnesses and shall not tamper with the prosecution
              evidence, in any manner.
      (b)     The applicant shall attend the trial on each and every
              date unless exempted by the trial Court.
      (c)     The applicant shall submit his Aadhar and Pan Cards to
              the Investigation Officer and detailed addresses and
              phone numbers of the applicant and two of the near
              relatives.
      (d)     In case of breach of any of the conditions by the applicant,
              it is open for the Prosecution to move this Court seeking
              cancellation of bail.

(iii)        Needless to state that the observations rendered herein are
             to the extent of this application and the trial court shall not
             be influenced by the same.



                                           [SACHIN S. DESHMUKH]
                                                   JUDGE
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