Authority: Bombay High Court, Criminal Appellate Jurisdiction
Order Date: 13 October 2026
Case Overview
- Applicant: Mahesh Vijay Kunte, represented by Advocate Ms. Karishma Thakur (via video conferencing) and counsel Mr. Ravindranath Patil.
- Respondent: State of Maharashtra, represented by APP Mr. Sukanta A. Karmakar.
- Offences: Sections 420, 409, 406 of the Indian Penal Code read with Section 34, and Sections 3 & 4 of the Maharashtra Protection of Interest of Depositors Act, 1999, arising from a hand loan of Rs 1.76 crore advanced to the applicant’s firm Varad Property Solutions Private Limited.
- Repayment: Rs 1.07 crore (61% of principal) already returned; applicant had been incarcerated for 19 months.
- Legal provision: Application filed under Section 483 of Bharatiya Nagarik Suraksha Sanhita, 2023 (bail).
Final Outcome
- Bail granted with the following conditions:
1. Immediate release from prison.
2. Execution of a personal bond of Rs 25,000 with one or two sureties of equal amount.
3. Monthly reporting to the investigating officer on the first Sunday of each month between 10:00 a.m. and 12:00 p.m. until trial commencement, and attendance at all trial dates thereafter.
4. No unnecessary adjournments; breach may lead to bail cancellation.
5. No leaving Maharashtra without trial court permission.
6. No influencing witnesses or tampering with evidence.
7. Obligation to keep the investigating officer informed of current residential address and mobile number, and to promptly report any changes.
8. Any violation of the above conditions will result in cancellation of bail.
- The court clarified that the observations are limited to bail and do not constitute a judgment on the merits; the trial will proceed based on evidence.
Topics: Bail, Financial Crime, Judicial Order