Authority: High Court of Judicature at Bombay

Order Date: 21 August 2026

Case Overview

  • Applicants: Ajit Ashok Mane & Ors.; Respondents: State of Maharashtra & Anr., represented by Mr. Pankaj Waghela (Applicants) and Mr. Parvez Menon & Mr. S.A. Karmakar (Respondents). The dispute stemmed from alleged fabrication and forgery of receipts for goods not delivered, involving an investment of USD 9,12,620 into Wonder Products Co., a sole‑proprietorship manufacturing medical equipment.
  • The Party of the First Part (investor) claimed a loss of USD 1,323,000 and issued a legal notice on 03‑02‑2025 demanding repayment of principal and promised returns.
  • A police complaint was lodged on 16‑04‑2025 with the Economic Offences Wing, Mumbai (EOW), leading to FIR No 47/2026 (dated 12‑01‑2026) under IPC sections 409, 465, 468, 471 and 120‑B against Ajit Ashok Mane, the Party of the Second Part (Mrs. Anuja Ajit Mane), and Wonder Products Co.
  • The husband of the Party of the Second Part was arrested on 18‑04‑2026 and remanded in police custody until 23‑04‑2026.
  • The parties later entered into Consent Terms dated 17‑09‑2025, later superseded by the present terms, agreeing to an amicable settlement.

Settlement Terms

  • Total Settlement Amount: Rs 1,50,00,000 (One Crore Fifty Lakhs).
  • Payment Schedule (three tranches of Rs 50,00,000 each):

1. Rs 50,00,000 due on or before 22‑04‑2026 (received on that date).

2. Rs 50,00,000 due on or before 31‑05‑2026.

3. Rs 50,00,000 due on or before 30‑06‑2026.

  • Payments to be made by RTGS/e‑bank transfer or cheque to the designated account of MZM Legal LLP (Account No. 9714744941, Kotak Mahindra Bank, IFSC KKBK0000957).
  • Four post‑dated cheques (Rs 50 lakhs each) were handed over to MZM Legal LLP as security, two in the name of Mrs. Anuja Ajit Mane (HDFC Bank, Centrium Mall, Kandivali East) and two in the name of Mr. Vishal Arvind Savla (Central Bank of India, Vile Parle).
  • In case of default, MZM Legal LLP is authorised to present the cheques for encashment and to pursue civil and criminal remedies, including reinstating withdrawn proceedings.
  • The parties agreed that time is of the essence; no extensions to the payment schedule will be permitted.
  • Upon full receipt of the Settlement Amount, the Party of the Second Part and her husband will file a petition to quash the FIR before the Bombay High Court, with the applicant’s cooperation and no objection.

Additional Provisions

  • The applicant will not oppose bail for the husband of the Party of the Second Part and will assist in obtaining bail.
  • Both parties agree not to initiate any further civil or criminal proceedings relating to the dispute once the settlement is satisfied.
  • Court costs of Rs 30,000 (Rs 15,000 each) are to be paid to A.K. Munshi Yojana’s J.T. Sheth Mandbuddhi Vikas Kendra, a special school for 150 disabled children, within two weeks of the order; proof of payment must be placed on record.

Final Outcome

  • The High Court allowed the application and quashed the entire complaint arising out of FIR No 47/2026.
  • The order is to be complied with by 4 September 2026, with the settlement payments, cost payment, and cooperation on bail and FIR quash petition as stipulated.

Topics: Settlement, Criminal Procedure, Court Order