SOMNATH GOARAKH PANDITversusTHE STATE OF MAHARASHTRA

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               IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                          BENCH AT AURANGABAD

                     47 BAIL APPLICATION NO. 776 OF 2026

                        Somnath Goarakh Pandit
                                 VERSUS
                          State Of Maharashtra
                                   …..
Advocate for Applicant : Mr. Jadhav Satej S
APP for Respondent-State: Mr. V. K. Kotecha
                                    …..
                     CORAM          : SIDDHESHWAR S. THOMBRE, J.
                            DATE       : 22.06.2026

PER COURT :
1.         Heard the learned counsel for the applicant and the learned APP

for the Respondent-State.

2.         By this application, the applicant seeks his release on bail in

connection with Crime No. 0076 of 2024 registered with Gandhi Chowki

Police Station, Latur, for the offence punishable under Sections 406, 409,

420, 201, 465, 467, 468, 471, and 34 of the Indian Penal Code, 1960

read with Sections 3 and 4 of the Maharashtra Protection of Interests of

Depositors (In Financial Establishments) Act, 1999.

3.         The brief facts of the prosecution case are that the applicant is

cashier in Maheshwari Multipurpose Credit Co-operative Society, who in

concert       with    one     Bhimashankar   Patil   (Manager)   committed

embezzlement of funds of around Rs.8 Crore. It is alleged that they

gained trust of other employees and depositors thereby misappropriating
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funds under different heads of expenses. It is alleged that all the

transactions were taken placed by the ID of present applicant. When the

accused failed to return the amount, present offence came to be

registered and applicant was arrested.

4.         The learned counsel for the applicant submits that, according to

the prosecution case, the applicant worked as a Cashier of the concerned

Credit Society during the relevant period. It is alleged that the applicant

was benefited to the extent of Rs.8,50,000/-. On the last occasion, this

Court granted time to the learned counsel for the applicant to obtain

instructions as to whether the applicant is willing to deposit the said

amount. On instructions, the learned counsel submits that the applicant is

ready and willing to deposit an amount of Rs.8,50,000/- within a period

of three weeks.

5.         The learned APP strongly opposed the application. He submits that

the applicant, being a Cashier of the Credit Society, manipulated the

records and made backdated entries. According to him, though initially

the members of the Managing Committee were not arrayed as accused,

the investigation subsequently revealed that the Board of Directors was

also responsible for the affairs of the Credit Society. It is submitted that

the applicant, along with the Directors, siphoned off an amount of about

Rs.8 Crore belonging to the depositors of the Society. Therefore,

considering the seriousness of the offence and the magnitude of the

amount involved, no discretion deserves to be exercised in favour of the
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applicant.

6.         I have considered the submissions advanced by the learned counsel

for the respective parties and perused the charge-sheet.There is no

dispute that the applicant worked as a Cashier of the concerned Credit

Society during the relevant period. The investigation papers indicate that

the applicant was benefited to the extent of Rs.8,50,000/-. The applicant

has expressed his willingness to deposit the said amount within a period

of three weeks. As regards the remaining allegations, appropriate

proceedings for recovery of the amount and attachment of the properties

of the accused persons can be initiated by the competent authorities in

accordance with law.

7.         The investigation is completed and the charge-sheet has already

been filed. In the circumstances, further custodial detention of the

applicant does not appear necessary. Therefore, I am inclined to allow the

application.

                                         ORDER

(i)        The application is allowed.

(ii)       The applicant - Somnath Goarakh Pandit shall be released on bail

in connection with Crime No. 0076 of 2024 registered with Gandhi

Chowki Police Station, Latur, for the offence punishable under Sections

406, 409, 420, 201, 465, 467, 468, 471, and 34 of the Indian Penal Code,

1960 read with Sections 3 and 4 of the Maharashtra Protection of
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Interests of Depositors (In Financial Establishments) Act, 1999, on

furnishing P.R. bond of Rs.15,000/- and a solvent surety in the like

amount to the satisfaction of the Trial Court.

(iii)      The release of the applicant shall be subject to the condition that

he shall deposit an amount of Rs.8,50,000/- before the concerned Court

within a period of three weeks from today.

(iv)       The applicant shall also follow following conditions:-

        i.    The applicant shall attend each and every date before the

              Trial Court unless specifically exempted.

        ii.   The applicant shall not directly or indirectly make any

              inducement, threat or promise to any prosecution witness

              and shall not tamper with the prosecution evidence in any

              manner.

8.         Needless to state that breach of any of the above conditions shall

entitle the prosecution to seek cancellation of bail.

9.         The observations made herein are prima facie in nature and the

learned Trial Court shall not be influenced by the same while deciding

the case on its own merits.

10.        Bail before Trial Court.



                                             [ SIDDHESHWAR S. THOMBRE ]
                                                       JUDGE