Bombay High Court
UJJWALA TARACHAND DESARDAversusSTATE OF MAHARASHTRA
- Decided
- Disposal
- Allowed
Holding
Bail is granted to the applicant on the stipulated conditions.
Summary
The High Court considered the bail application of Ujjwala Tarachand Desarda, a director of a company charged under multiple IPC offences (sections 409, 420, 467, 468, 471, 120‑B read with 34) and sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999. The applicant argued that her involvement was limited to signing two Tharavs as a director and that she derived no personal benefit from the alleged Rs. 27‑crore loan fraud. The State contended that the seriousness of the offences warranted continued detention. The Court, applying Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023, found that the prima facie material did not justify denial of bail and that the applicant could be released on reasonable conditions to ensure trial attendance and prevent tampering. Accordingly, bail was granted on a personal bond of Rs. 50,000 with sureties and a set of reporting and conduct conditions. The order was disposed of after granting bail.
Issues considered
- Whether the applicant, as a director with limited involvement, is entitled to bail despite serious charges under the IPC and the Maharashtra Depositors Act.
- Whether the risk of flight, tampering with evidence, or influencing witnesses justifies denial of bail.
- Whether the conditions imposed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 are sufficient to safeguard the trial process.
Legislation cited
- Bharatiya Nagarik Suraksha Sanhita, 2023 — s. 483
- Indian Penal Code — s. 120-B, 34, 409, 420, 467, 468, 471
- Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 — s. 3, 4
Subjects
- bail
- director liability
- financial fraud
- IPC offences
- Maharashtra Depositors Act
- criminal procedure
- section 483
- Bharatiya Nagarik Suraksha Sanhita
Judgment
19. BA-3530-26.odt
Amberkar
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
BAIL APPLICATION NO. 3530 OF 2026
Ujjwala Tarachand Desarda .. Applicant
Versus
State of Maharashtra .. Respondent
....................
Mr. Aabad Ponda, Senior Advocate a/w Mr. Abhay Dhadiwal & Mr.
Rohit Jain i/by M/s. Jayakar & Partners, Advocates for Applicant
Mr. Yogesh M. Nakhwa, APP for State
Mr. Prashant S. Diwate, API present
...................
CORAM : MILIND N. JADHAV, J.
DATE : SEPTEMBER 21, 2026
P. C.:
1. Heard Mr. Ponda, learned Senior Advocate for Applicant and Mr.
Nakhwa, learned APP for State.
2. This is an Application under Section 483 of Bharatiya Nagarik
Suraksha Sanhita, 2023 seeking Bail in connection with C.R. No. 626
of 2024 registered with Shirur Police Station, District Pune for the
offences punishable under Sections 409, 420, 467, 468, 471, 120-B
read with Section 34 of the Indian Penal Code, 1860 (for short "IPC")
and Sections 3 and 4 of the Maharashtra Protection of Interest of
Depositors (in Financial Establishments) Act, 1999.
3. The case of the Applicant before me is primarily covered by the
reasons given in the order dated 02.09.2026 passed in Bail Application
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3544 of 2026 and order dated 01.09.2026 passed in Bail Application
No. 3133 of 2026 and other companion matters.
4. The Applicant before me was also one of the directors of the
Company and to that extent the only role attributed to her is that she
being a director, should be indicted. There is no specific role of any
personal gain and most importantly she has not been a beneficiary of
receipt of any funds or having any direct involvement in the alleged
loan transaction qua the two Tharavs as well as the, the loan amount
of Rs. 27 crores having been given by the Patpedhi / Institution which
was primarily done by the principal accused No. 1 in the present case.
Save and except to the extent of she being a director and having a
limited role in having signed the two Tharavs, there is no other role
attributed to the Applicant. Hence, considering parity, the Applicant
who is a woman is also released on bail on the following terms and
conditions
(i) Applicant is directed to be immediately released on bail
from prison in connection with C.R. No. 626 of 2024;
(ii) Applicant is directed to be released on bail on
furnishing P.R. Bond of Rs. 50,000/- (Rs. Fifty
Thousand Only) with one or two sureties in the like
amount;
(iii) Applicant shall report to the Investigating Officer at
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Shirur Police Station, once every month on the first
Sunday of the month between 10:00 a.m. to 12:00
p.m.;
(iv) Applicant shall co-operate with the conduct of trial and
attend the Trial Court on all dates, unless specifically
exempted and will not take any unnecessary
adjournments, if he does so it will entitle the
prosecution to apply for revocation of this order;
(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;
(vii) Applicant shall keep the Investigating Officer informed
of his current address and mobile contact number and /
or change of residence or mobile details, if any, from
time to time, as applicable; and
(viii)Any infraction of the conditions shall entail cancellation
of bail granted to the Applicant.
5. Needless to state that the above observations will not come in
the way of trial as they are prima facie in nature based on the
submissions made and the material placed before this Court.
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6. Bail Application is allowed and disposed of in the above terms.
Amberkar [ MILIND N. JADHAV, J. ]
Digitally signed
by RAVINDRA
RAVINDRA MOHAN
MOHAN AMBERKAR
AMBERKAR Date:
2026.09.22
15:04:50 +0530
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