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Order on BA No.3/24
MHCC020000172024
BEFORE THE DESIGNATED COURT UNDER M.P.I.D. ACT
CITY CIVIL & SESSIONS COURT, MUMBAI
ORDER ON BAIL APPLICATION NO.3 OF 2024
IN
C.R. No.133 of 2023
Anand Baburao Jadhav
Age : 44 years, Occ : Business
Residing at Room No.312 B/9, C-wing,
New Jaifalwadi Society, Tardeo, Mumbai-400003.

]
]
] Applicant/
]… Accused
Versus
The State of Maharashtra
(Through N. M. Joshi Marg Police Station)
]
]… Respondent
Appearances:Ld. Advocate Vinay Bhanushali for the Applicant.
Ld. SPP Seema Deshpande for the State/ Respondent.
CORAM : HER HONOUR JUDGE
ADITEE UDAY KADAM,
(Court Room no. 7)
DATE : 29th February, 2024.
ORAL ORDER
1.

The present application is moved by the Applicant/Accused
Anand Baburao Jadhav resident of Tardeo, Mumbai, under
Section 439 of The Code of Criminal Procedure, 1973 for grant of
regular bail.

2.

A case being C.R. No.133 of 2023 is registered with N. M.
Joshi Marg Police Station against the present Applicant for the
offence punishable under Sections 406, 409, 420 r/w Section 34
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Order on BA No.3/24
of the Indian Penal Code, 1860 (hereinafter referred as “IPC”) as
well as Sections 3 and 4 of The Maharashtra Protection of Interest
of Depositors Act, 1999 (hereinafter referred as “MPID Act”).
3.

Application is resisted by the Prosecution by filing their say
at Exhibit No.02 & 03.

4. Prosecution case in nutshell is as under :-
As per F.I.R. and complaint by the informant Dr. Bharti
Ravindra Barge during the period from 15.07.2022 to 25.01.2023
accused Mahadev Pandurang Jadhav told him that various
investment schemes were being carried out by his Company M/s.
Rehan Enterprises, Rohan Enterprises and Atulya Group of
Companies and he forced him, his niece Vaishali Pawar and grand
daughter Sakshi Durgule to invest a sum of Rs.50 Lakhs, Rs.75
Lakhs and Rs.15 Lakhs respectively in their Company by luring
them all to fix the amount to give a fixed return of 5% p.m. Out
of the invested amount of Rs.50 Lakhs, only a sum of
Rs.7,37,500/- (Rupees Seven Lakhs Thirty Seven Thousand Five
Hundred only) has been returned. The accused failed to return a
sum of Rs.1,32,62,500/- (Rupees One Crore Thirty Two Lakhs
Sixty Two Thousand Five Hundred only). With these allegations
according to informant, the directors of above said three
Companies namely Mahadev Pandurang Jadhav, Madhura
Mahadev Tari, Anand Jadhav have committed defraud by
cheating them.
5.

Heard the Ld. Advocate for the Applicant, Ld. SPP for the
Prosecution, Investigating Officer and Ld. Advocate for the first
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Order on BA No.3/24
informant / intervenor.
6.

On perusal of record, it reveals that anticipatory bail
application came to be rejected and then applicant came to be
arrested on 04.11.2023. Thus, prima facie concern of the
applicant with alleged offence is clear. On that ground itself and
on the ground of recovery, application filed by the applicant is
resisted by the prosecution. In that regard, today Ld. Advocate for
the applicant filed pursis that the applicant is ready to give
undertaking that, he will deposit the amount of Rs.29,21,995/which was received in his account as per charge-sheet, within 6
months from the date of release from prison with upfront amount
of Rs.5 Lakhs.

7.

Even otherwise, in this case charge-sheet is filed and thereby
investigation is complete. No purpose would be served by keeping
the applicant behind bar. In view of proposed undertaking by the
applicant, money / investments of the investors can be secured.
That is the ultimate object of an enactment.

8.

It is submitted by the Ld. Advocate for the applicant that the
applicant has no criminal antecedents. He is ready to abide any
condition on grant of bail. Considering all these aspects this Court
is of the view that the application filed by the applicant is to be
allowed with certain conditions. Hence, the following order :ORDER
1. The present Bail Application No.3 of 2024 is hereby allowed and
disposed of.

2. The applicant Anand Baburao Jadhav is hereby released on bail in
connection with C.R. No.133 of 2023 is registered with N. M.

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Order on BA No.3/24
Joshi Marg Police Station against the present Applicant for the
offence punishable under Sections 406, 409, 420 r/w Section 34
of the Indian Penal Code, 1860 as well as Sections 3 and 4 of The
Maharashtra Protection of Interest of Depositors Act, 1999 on
furnishing PR bond of Rs. 1,00,000/- (Rupees One Lakh only)
with one or more sureties in the like amount.
3. The Applicant is permitted to furnish provisional cash bail of Rs.

1,00,000/- (Rupees One Lakh only) for a period of three months.

4. The applicant shall surrender his passport before the investigating
officer within a period of one week of his release.

5. That the applicant shall make himself available for interrogation
by the Investigating Officer as and when required, under written
intimation.

6. The applicant shall not leave India without prior permission of
this Court.

7. The Applicant shall not alienate any movable and immovable
property in his name or in the name of his wife/children if any,
without permission of this Court.

8. The Applicant shall not tamper with the prosecution evidence or
pressurize the prosecution witnesses in any manner till the
conclusion of trial.

9. The Applicant shall furnish his contact number and residential
address to the Investigating Officer and shall keep him updated,
in case there is any change.

10. The Applicant shall attend the dates of trial regularly.

(Dictated and pronounced in the open Court.)

Date: 29/02/2024
Mumbai
(ADITEE UDAY KADAM)
Designated Judge under
The Maharashtra Protection of
Interest of Depositors Act, 1999,
for Gr. Bombay
Dictated directly on computer: 29/02/2024
Signed by HHJ on
: 29/02/2024
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Order on BA No.3/24
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT /ORDER”
01.03.2024 at 10.22 a.m.
UPLOADED DATE AND TIME
Ms. R. D. Tari
NAME OF STENOGRAPHER
Name of the Judge (with Court Room no.)

H.H.J. A. U. Kadam
C.R. No.07
Date of Pronouncement of Judgment/Order
29.02.2024
Judgment /Order signed by P.O. on
29.02.2024
Judgment/Order uploaded on
01.03.2024