ORDER

1. By this application the applicant (Accused no1 ) is seeking bail under section 167(2) of the Criminal Procedure Code (Cr.P.C.) in Crime no 153/2021 PS Koregaon Park Pune, for the offence punishable under Section 4 06 , 409,420 read with Section 3 4 of Indian Penal Code (IPC) and Section 3 and 4 of the Maharashtra Protection of Depositors Act (MPID Act). The learned Special Judge at Pune by order dated 07.01.2022 has refused to release the applicant on default bail under Section 167(2) of CrPC.

2. The aforesaid crime is registered on the basis of the complaint dated 27.10.2021 lodged by the intervenor Yogesh Vishnu Dixit. The applicant is a builder by profession. According to the informant the applicant with his wife Dimple Somaji (Accused no 2) had induced him to invest amount in their venture M/s M.G. Enterprises and had accepted deposits from the informant and others assuring 24% p.a. returns. The informant claims to have invested a total am