Bombay High Court
SWAMINATH EKNATH JADHAVversusSTATE OF MAHARASHTRA
- Decided
- Disposal
- Allowed
Holding
Bail is granted to the applicant subject to the conditions specified by the court.
Summary
The High Court considered a bail application filed under Section 483 of the Bhartiya Nagarik Suraksha Sanhita, 2023, by Swaminath Eknath Jadhav, accused No.5 in a case involving alleged cheating, breach of trust and forgery. The prosecution alleged that Jadhav, a businessman, induced other investors to deposit money with the principal accused’s company, Shreyans Tours & Travels Limited, but the investigation revealed that Jadhav himself invested Rs.2.72 crore and was a victim rather than a conspirator, with only one witness suggesting any inducement. The court noted that Jadhav had been in custody since 10 September 2025, had fully cooperated with the investigation, and that no further custody was necessary. Relying on the prima facie lack of evidence linking him to the alleged offences, the court granted bail with a set of conditions, emphasizing that the order was limited to bail and not a determination on the merits. The bail order was issued and the application disposed.
Issues considered
- Whether bail should be granted to the accused under Section 483 of the BNSS, 2023, given the nature of the alleged offences and the evidence on record.
Legislation cited
- Bhartiya Nagarik Suraksha Sanhita, 2023 — s. 316(2), 318(4), 336(2), 336(3), 337, 338, 339, 340(2), 483, 61(2)
Subjects
- bail
- economic offences
- cheating
- breach of trust
- forgery
- BNSS
- Section 483
- presumption of innocence
- conditions of bail
Judgment
10. BA 3343-2026.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
BAIL APPLICATION NO. 3343 OF 2026
Swaminath Eknath Jadhav .Applicant
Vs.
The State of Maharashtra .Respondent
ANAND Mr. Aniket Nikam a/w. Mr. Gadandeep Singh, Mr. Manjeet Lotankar &
SUDHAKAR
SUDAME Mr. Raviraj Dhanawade, Advocates, for the Applicant
Digitally signed by
ANAND SUDHAKAR
Mr. Sukanta A. Karmakar, APP, for the Respondent – State
SUDAME
Date: 2026.09.01
21:12:36 +0530
Mr. Sameer Dabhade, PSI, Economic Offence Wing, Pimpri Chinchwad
present
CORAM : MILIND N. JADHAV, J.
DATE : 01.09.2026
P. C.
1. Heard Mr. Nikam, learned Counsel for the Applicant and Mr.
Karmakar, learned APP for the Respondent – State.
2. This Application is filed under Section 483 of the Bhartiya
Nagarik Suraksha Sanhita, 2023 (for short “BNSS”) in connection with
C.R.No. 564 of 2025 registered with MIDC Bhosari Police Station, Pune
for offences punishable under Sections 316(2), 318(4), 336(2),
336(3), 337, 338, 339, 340(2) r/w. 61(2) of the BNSS.
3. The Applicant is indicted as Accused No. 5 in the present crime
registered for cheating, breach of trust and forgery. Insofar as prima
facie role of the Applicant qua cheating, breach of trust and forgery is
Anand 1 of 5
10. BA 3343-2026.doc
concerned, the same is not made out from the criminal investigation
that is undertaken by the prosecution. Reading of the statement of the
prosecution appended at page 2835 of the Application prima facie
shows that the Applicant himself has been a victim of the investments
made by the Applicant and his wife as also the offence which has been
registered. Admittedly, the Applicant and his wife has jointly invested
an amount of Rs.2.72/- crores with the Company of the principal
Accused persons namely Shreyans Tours & Travels Limited. This
particular Company of the principal Accused No.1 has received
substantial deposits and insofar as the Applicant is concerned, even
according to the prosecution case, the Applicant having received
Rs.7.38/- crores from the investors has deposited the said amount with
the Company of Accused No.1. There are 34 witnesses whose
statements have been recorded. Insofar as the Applicant is concerned,
save and except, one particular witness where the Applicant had
accompanied the principal Accused persons and sought investment of
Rs.5,00,000/- in cash, there is no other indictment of the Applicant
insofar as his participation in inducing investors to deposit is concerned
or shown by the prosecution. To the highest, the case of the
prosecution is that because the Applicant, being a businessman and a
man of means having invested and deposited deposit Rs. 2.72/- crores
Anand 2 of 5
10. BA 3343-2026.doc
with the Shreyans Tours & Travels Limited according to prosecution, he
induced and influenced other investors to invest in the said Shreyans
Tours & Travels Limited. The Applicant having invested a huge amount
himself has executed the necessary contract with the Company of
Accused No. 1 which is placed on record as also the Agreement for
seeking returns. At the highest, the case of the prosecution qua the
Applicant would be that of he being a person who may have influenced
other investors to deposit amounts with the principal Accused No. 1
and his Company Shreyans Tours & Travels Limited, but that is not
borne out from the record prima facie.
4. Considering the investigation carried out by the prosecution with
regard to tracing of funds received by the Applicant and the Applicant
having been shown to have transferred the same to the principal
Accused No. 1’s Company even as per prosecution case itself, no further
custody of the Applicant is required considering his incarceration from
10.09.2025 onwards. The Applicant has participated in the
investigation and has made all disclosures. In that view of the matter,
the Applicant has made out a case for grant of bail.
5. Hence, in view of above prima facie observations and finding,
Bail Application of Applicant is allowed subject to the following terms
and conditions:-
Anand 3 of 5
10. BA 3343-2026.doc
(i) Applicant – Swaminath Eknath Jadhav is directed to be
immediately released from prison in connection with
CR. No. 564 of 2025;
(ii) Applicant is directed to be released on bail on furnishing
P .R. Bond of Rs.50,000/- (Rs. Fifty Thousand only)
with one surety of the like amount;
(iii) Applicant shall report to the Investigating Officer at
MIDC Bhosari Police Station, Pune once every month,
on the first Monday of the month between 10:00 a.m. to
12:00 p.m. until commencement of trial and thereafter
shall attend all dates of hearing before the Trial Court;
(iv) Applicant shall cooperate with the conduct of the trial
and remain present before the Trial Court on all dates,
unless specifically exempted. Applicant shall not seek
unnecessary adjournments. Any such conduct shall
entitle the prosecution to apply for cancellation of bail;
(v) Applicant shall not leave the State of Maharashtra
without prior permission of the Trial Court;
(vi) Applicant shall not influence any of the witnesses or
tamper with the evidence in any manner;
Anand 4 of 5
10. BA 3343-2026.doc
(vii) Applicant shall keep the Investigating Officer informed
of his current residential address and mobile telephone
number and shall forthwith inform the Investigating
Officer of any change in his residential address or
mobile telephone number, as and when such change
occurs; and
(viii)Any breach or infraction of any of the aforesaid
conditions shall entail cancellation of the bail granted to
the Applicant.
6. It is clarified that the observations made in this order are limited
for the purpose of granting bail only and I have not made any
observations on merits of the case. The trial shall be adjudicated on
the strength of the evidence led and strictly on its own merits being
uninfluenced with any of the prima facie observations made
hereinabove in this order.
7. Bail Application is allowed and disposed in the above terms.
(MILIND N. JADHAV, J.)
Anand 5 of 5
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