IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION WRIT PETITION NO. 612 OF 2023 Amar S. Mulchandani .. Petitioner Versus Directorate of Enforcement through its .. Respondent Deputy Director and ors WITH INTERIM APPLICATION NO. 305 OF 2024 AND INTERIM APPLICATION NO. 2466 OF 2023 IN WRIT PETITION NO. 612 OF 2023 WITH WRIT PETITION NO. 646 OF 2023 Vinay V. Aranha .. Petitioner Versus The State of Maharashtra and anr .. Respondents WITH INTERIM APPLICATION NO. 1749 OF 2023 AND INTERIM APPLICATION NO. 1748 OF 2023 AND INTERIM APPLICATION NO. 1747 OF 2023 IN WRIT PETITION NO. 646 OF 2023 WITH WRIT PETITION NO. 743 OF 2023 Sagar M. Suryawanshi .. Petitioner Versus Directorate of Enforcement and ors .. Respondents WITH INTERIM APPLICATION NO. 917 OF 2023 WITH INTERIM APPLICATION NO. 918 OF 2023 AND INTERIM APPLICATION ST NO. 15945 OF 2023 IN WRIT PETITION NO. 731 OF 2023 WITH WRIT PETITION NO. 690 OF 2023 Sadhana M. Mulchandani and anr .. Petitioners Versus Directorate of Enforcement and ors .. Respondents WITH INTERIM APPLICATION NO. 2330 OF 2023 AND INTERIM APPLICATION NO. 1118 OF 2023 AND INTERIM APPLICATION NO. 1120 OF 2023 IN WRIT PETITION NO. 690 OF 2023 WITH WRIT PETITION NO. 711 OF 2023 Ashok S. Mulchandani and ors .. Petitioners Versus Directorate of Enforcement and ors .. Respondents WITH INTERIM APPLICATION NO. 1117 OF 2023 AND INTERIM APPLICATION NO. 1122 OF 2023 IN WRIT PETITION NO. 711 OF 2023 WITH WRIT PETITION NO. 746 OF 2023 Sheetal K. Tejwani .. Petitioner Versus The State of Maharashtra and anr .. Respondents WITH INTERIM APPLICATION NO. 1755 OF 2023 AND INTERIM APPLICATION NO. 1753 OF 2023 IN WRIT PETITION NO. 746 OF 2023 WITH WRIT PETITION NO. 1030 OF 2023 Girish K. Tejwani .. Petitioner Versus The State of Maharashtra and anr .. Respondents WITH INTERIM APPLICATION NO. 1751 OF 2023 AND INTERIM APPLICATION NO. 1750 OF 2023 IN WRIT PETITION NO. 1030 OF 2023 WITH WRIT PETITION NO. 961 OF 2023 Rajesh P. Sawant .. Petitioner Versus Directorate of Enforcement and ors .. Respondents Mr.Ravi Kadam, Senior Advocate with Mr.Karan Kadam, Mr.S.R. Phanse and Mr.S.S. Bedekar for the petitioner in WP No.

612/690/711 of 2023.

Mr.Sanjeev Kadam with Mr.Shantanu Phanse for the petitioner in WP 961/2023.

Mr.Ajay Bhise with Deepali Kedar, Sagar Kursija for the petitioner in WP 731/2023, WP 746/2023 and WP 1030/2023.

Ms.Minal Chandnani, Prashant Kenjale, for Intervenor in IA No.917/2023.

Mr.Shekhar Mane for the petitioner in WP 646/2023. Mr.H.S. Venegavkar for respondent nos.1 and 2 (ED).

Mr.Anil Anturkar, Senior Advocate a/w Ms.Minal Chandnani, Prashant Kenjale, Mr.Harshvardhan Suryavanshi, Ms.Kashish Chelani for the Intervenor in IA No. 1747 of 2023.

Mr.Anil Anturkar, Senior Advocate a/w Ms.Minal Chandnani, Prashant Kenjale, for respondent no.5 in IA NO.305/2024 in WP

612/2023.

Mr.Vivek Muglikar, ACP Crime-I, Pimpri Chinchwad.

Mr.Kadir Deshmukh, API, Vimantal police station, Pune.

CORAM : BHARATI DANGRE &

MANJUSHA DESHPANDE,JJ.

RESERVED ON : 9^th JULY, 2024 PRONOUNCED ON : 29th AUGUST, 2024 JUDGMENT : (Per Bharati Dangre, J)

1 On 17/5/2018, FIR No. 163/2018 is registered at Vimantal police station on the complaint filed by one Sagar M. Suryawanshi, an account holder in Seva Vikas Co-operative Bank (for short ‘Seva Bank’), Pimpri. The complainant, who is also a shareholder in the Bank made a grievance, that the Bank had advanced a loan of Rs.Seven crores in March 2018 and loan of Rs.4.5 crores in April 2018 to one Rosary Education Group. On inquiry, it was revealed to the complainant that Vivek Aranha and Vinay Aranha were the partners of Rosary Education Group and some property was mortgaged with the Bank, but it was sold by the accused persons vide a registered agreement on 29/12/2014. On the very same day, Leave and Licence agreement was executed between the purported owners and the accused nos.1 and 2, the Aranhas, leasing out 95% area of the said property. As far as 5% area of the subject property is concerned, a sepa