Bombay High Court
PRASHANT RAMESH KADAMversusSTATE OF MAHARASHTRA AND ANR
- Decided
- Disposal
- Allowed
Holding
Bail is granted to the applicant under Section 439 CrPC, subject to strict conditions.
Summary
The applicant, Prashant Ramesh Kadam, sought bail under Section 439 of the Criminal Procedure Code in connection with a case (CR No. 797 of 2021) involving alleged cheating, criminal breach of trust and criminal intimidation under IPC Sections 420, 406 and 506 read with Section 34. The prosecution alleged that he collected Rs. 1.82 crore from nine investors for purported share and real‑estate investments, of which Rs. 1.01 crore was returned, while the balance remained unpaid. The applicant had been in custody for over four years, with the charge formally framed on 21‑08‑2026 and no substantive progress in the trial. The court noted the substantial partial restitution and the prolonged pre‑trial detention as prima facie factors favoring bail. Consequently, the court granted bail subject to a personal bond of Rs. 25,000, sureties, regular reporting to the investigating officer, and strict compliance with conditions to prevent witness tampering or absconding. The order expressly limited its observations to bail and refrained from commenting on the merits of the underlying offences. The bail was ordered to be effective immediately, with cancellation provisions for any breach of the stipulated conditions.
Issues considered
- What considerations under Section 439 CrPC justify granting bail in a case involving offences of cheating, criminal breach of trust and criminal intimidation?
- Does the applicant's prolonged pre‑trial detention and partial restitution of the alleged fraud amount warrant bail despite the seriousness of the offences?
Legislation cited
- Code of Criminal Procedure, 1973 — s. 439
- Indian Penal Code — s. 34, 406, 420, 506
Subjects
- bail
- Section 439 CrPC
- cheating
- criminal breach of trust
- criminal intimidation
- IPC
- investment fraud
- pre‑trial detention
- conditions of bail
Judgment
9.BA.3733.2026.doc
Ajay
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
BAIL APPLICATION NO. 3733 OF 2026
Prashant Ramesh Kadam .. Applicant
Versus
The State of Maharashtra .. Respondent
....................
Mr. R. Sathyanarayanan a/w. Mr. Vishal Narkar, Advocates for
Applicant.
Mr. Amit K. Mundhe, APP for Respondent.
...................
CORAM : MILIND N. JADHAV, J.
DATE : OCTOBER 05, 2026
P.C.:
1. Heard Mr. Sathyanarayanan, learned Advocate for Applicant
and Mr. Mundhe, learned APP for Respondent.
2. This is an Application under Section 439 of the Code of
Criminal Procedure, 1973 seeking bail in connection with C.R. No.797
of 2021 registered with Kamothe Police Station for offences punishable
under Sections 420, 406 and 506 read with 34 of the Indian Penal
Code, 1860.
3. In the present case, there are 9 investors from whom, on
their own volition and voluntarily certain amounts were received by
Applicant to the tune of Rs.1.82 crores as per the prosecution case.
Applicant has through his bank statement been able to show to the
Court that Rs.1.01 crores have already been returned back by him to
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the said investors. The rest of the amounts were not paid. It is prima
facie seen from the record of the case that the monies were received
by Applicant for investment in shares and real estate business on the
basis of which returns were promised.
4. Considering the fact that substantial amounts of returns have
already been paid to the tune of Rs.1.01 crores out of Rs.1.82 crores
and Applicant having been incarcerated for the past 4 years and 3
months and charge having been framed on 21.08.2026 and no further
progress in the trial, I am inclined to consider the case of Applicant for
bail.
5. Hence, in view of above prima facie observations and
findings, Bail Application of Applicant is allowed subject to the
following terms and conditions:-
(i) Applicant – Prashant Ramesh Kadam is directed to be
immediately released from prison in connection with
CR. No.497 of 2021;
(ii) Applicant is directed to be released on bail on
furnishing P.R. Bond of Rs.25,000/- (Rs. Twenty Five
Thousand only) with one or two sureties in the like
amount;
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(iii) Applicant shall report to the Investigating Officer at
Kamothe Police Station, 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;
(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
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(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. ]
Ajay
Digitally signed
by AJAY
AJAY TRAMBAK
TRAMBAK UGALMUGALE
UGALMUGALE Date: 2026.10.05
14:56:03 +0530
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