JUDGMENT :

Heard.

2. The applicant, who is in custody since 23-11-2020, is seeking bail in connection with Crime 251/2020, registered with Police Station Rana Pratap Nagar, Nagpur, for offences punishable under sections 406, 409, 420, 120-B of Indian Penal Code (“IPC”), section 3 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 and section 45(s) of Reserve Bank of India.

3. The crime is registered on the basis of report dated 13-11-2020, lodged by Mr. Ganesh Safale.

4. The gist of the prosecution case, as is discernible, from the Final Report submitted under section 173 of the Code of Criminal Procedure, 1973(“Code”) is that applicant Jivandas Dandhare, despite being aware that Metro Vision Buildcon The Real Trade (“Metro Vision”) is not authorized to accept deposits or investments, induced gullible investors to invest various amounts in the said company, the investors did not receive the interest and/or profit assured, much less the principal amount, and ultimately Metro Vision shut shop.

5. I have heard the learned counsel for the applicant Mr. A. K. Bhangde and the learned APP Mrs. K. R. Deshpande.

6. Mr. A. K. Bhangde would submit that e