Authority: High Court of Judicature at Bombay, Criminal Appellate Jurisdiction

Order Date: 22 September 2026

Case Overview

  • Applicant: Rajashree Rajesh Tudayekar, 40‑year‑old woman, CMD of Rajashree Agriventures Co., permanent resident of Hindalga, Belgaum, Karnataka.
  • Respondents: State of Maharashtra and others.
  • Application filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 seeking regular bail in CR No.2 of 2026 registered at Shivajinagar Police Station, Pune.
  • Offences alleged: Sections 406, 409, 420 of the Indian Penal Code and Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors Act, 1999.
  • Background of complaint: Complainant invested Rs 4 lakh in Royal Trading Company after being introduced by Mr. Suresh Jadhav and Mr. Akshay. He received Rs 1,74,000 as return; the remaining Rs 2,26,000 was not paid, leading to a cheating complaint.
  • Applicant was arrested from her residence in Belgaum on 06‑08‑2026 and has been in custody for 42‑43 days.
  • FIR indicates a dichotomy: applicant allegedly took loan amounts as gold loan, but also allegedly refunded Rs 5,65,000 to the complainant.
  • Prosecution alleges applicant collected Rs 55 lakh through Rajashree Agriventures Co. from 15 depositors; statements of 15 investors recorded.
  • Applicant’s credentials: Doctorate in Social Work from Royal America University, over 20 years in social work, recipient of multiple awards (International Business Excellence Award 2022, Pradhanmantri Aatmanirbhar Bharat Abhiyan Samman, Proud Indian Parliament Award 2022, Young Achiever Award 2021, etc.), and donor of essential items to needy families.
  • Personal circumstances: Mother of two minor daughters below five years of age.
  • Investigation note (statement dated 17‑09‑2026 by Mr. Vithal Pratap Patil) indicates deposits were made by third parties, not directly by the applicant.

Final Outcome

  • Bail is granted subject to the following conditions:

1. Immediate release from prison.

2. Furnishing a personal bond of Rs 25,000 with one or two sureties of equal amount.

3. Monthly reporting to the Investigating Officer at Shivajinagar Police Station on the first Sunday of each month between 10:00 a.m. and 12:00 noon, and attendance at all trial court dates.

4. Cooperation with the trial; no unnecessary adjournments; breach may lead to cancellation of bail.

5. No travel abroad without prior permission; passport to be deposited with the trial court within two weeks of release.

6. No influencing of witnesses or tampering with evidence.

7. Keep the Investigating Officer informed of current residential address and mobile number, and promptly report any changes.

8. Any breach of the above conditions will result in cancellation of bail.

  • The court clarifies that observations are limited to bail considerations and do not address the merits of the case; the trial will proceed on the strength of evidence.

Topics: Criminal Bail, Deposit Fraud, Court Order