1. The petitioner seeks enlargement on bail in case FIR
No.391/2023 registered at Police Station Georai, District Beed,
17:15:56 IST
Reason:
Maharashtra under Sections 420, 406, 409, 477-A, 120-B of the
Indian Penal Code, 1860 and Sections 3 & 4 of the Maharashtra
Protection of Interest of Depositors (in Financial
Establishments) Act, 1999.
2. The allegations against the petitioner and his 12 co-
accused persons are that in April 2019, they received payments
from various persons, allegedly with an assurance that they
would procure Government Job, such as clerk in the Health
Department, including the informant’s wife. In all, a sum of
over Rs.4 crores is said to have been collected through fixed
deposits in Shrimant Yogi Urban Nidhi Limited. The case is still
at the stage of appearance of the accused. The charges are yet
to be framed, and there being a long list of proposed witnesses,
the trial will take a reasonably long time. The petitioner
appears to have been previously absconding, but he surrendered
on 16.08.2024 and has been in custody since then. The father of
the main accused and about seven more co-accused have already
been enlarged on bail.