JUDGMENT

V. G. Bisht, J. - The present application has been moved by the applicant under Section 439 of the Code of Criminal Procedure in Crime No.624 of 2019 registered with Police Station Shirur, for offences punishable under Section 420, 406, 465, 467, 471 of the Indian Penal Code (IPC) and under Section 3 and 4 of the The Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act (MPID Act).

2 It is the case of prosecution that the informant and the applicant are acquainted with each other. The applicant is proprietor of Shri. Enterprises & Contractors and doing business of purchase and sale of spare parts / scrap materials with Banglore based company, namely, Wadia Tools and Kenametals India Ltd. The prosecution alleges that applicant posed that he is getting huge amount of funds and huge profit and required large capital and thus demanded money from the informant and induced him to deposit and invest amount from time to time. The informant and his brother-in-law invested Rs.42 lacs with interest at the rate of 10 to 15 % per annum. The prosecution further alleges that both of them demanded money back and the applicant was unable to pay due to financial c