Authority: Supreme Court of India
Order Date: 22 August 2026
Case Overview
- Parties: Appellant Narayan (Senior Clerk, Mahila Urban Co-operative Credit Society Ltd) vs. State of Maharashtra & others.
- Offences Charged: Sections 471, 468, 467, 465, 420, 409, 408, 120‑B, 201 of the Indian Penal Code and Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999.
- Background: Complaint by Mr. Arpit alleging a fixed deposit of Rs 24,45,000 matured; society was closed and could not repay. Investigation uncovered misappropriation of Rs 30,78,96,676 and a loss of Rs 4,43,91,657 to various depositors.
- Accused Details: Total 33 accused; chargesheet filed against eight. Of the 33, 16 have been granted bail (including Chairman, Secretary, Directors, Cashier, and other clerks), 12 are absconding, 4 (including Narayan) remain in custody, and one accused has died.
- Appellant’s Role: Joined the society as Senior Clerk in April 2021. His user ID was allegedly used to create bogus term‑loan files. Arrested on 13 September 2025 and remained in custody; earlier bail applications before the trial court and High Court were rejected.
- Trial Status: Charges were framed on 30 June 2026. The trial has not yet commenced. The prosecution has cited 47 witnesses.
Final Outcome
- The Supreme Court allowed the appeal, set aside the impugned order, and ordered that Narayan be released on regular bail, subject to any terms and conditions the jurisdictional court may impose.
Topics: Criminal Bail, Banking Fraud