1. Heard learned counsel for the applicants and learned APP.

2. This is an application filed under Section 439 (1) of Code of Criminal Procedure for grant of bail.

3. On the basis of the complaint lodged by some of the investors of the company of the applicant, namely Shrisurya Investment (HUF) Company that police station Khadan, Akola, has registered offences punishable under Sections 420, 468, 471 and 120B read with Section 34 of Indian Penal Code and also under Section 3 of Maharashtra Protection of Interest of Depositors in Financial Establishments Act (for short MPID ACT), 1999.

4. It is alleged that the applicant together with co-accused established a company, Shrisurya Investment (HUF) Company, and made a false representation to various investors that if amounts were invested in this company, the company would utilize the deposits of the investors for earning some profits through other businesses and, in turn, would give attractive returns on investment to its various investors. The returns that were promised by this applicant and his co-accused were in the nature of payments of interest accrued on the deposits at the rates ranging from 40% to 100%. It has been furt