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

Order Date: 19 October 2026

Case Overview

  • Applicant: Sachin Laxman Khadatare, Director of Infinite Bicon Private Limited.
  • Respondent: State of Maharashtra.
  • Criminal Reference No. 118 of 2025, registered at Shivajinagar Police Station, Pune.
  • Offences alleged under Sections 316(5), 318(4), 3(5), 111 and 61(2) of the Bharatiya Nyaya Sanhita, 2023; Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors Act, 1999; and Sections 21 and 23 of the Banning of Unregulated Deposit Schemes Act, 2019.
  • Prosecution alleges Khadatare received Rs 3.2 crore from investors, with two residential flats (valued Rs 2.28 lakhs) and one‑third share in an agricultural plot (valued approx. Rs 1.38 crore) attached.
  • Principal accused Navnath Avatade and five others are absconding; four accused have been arrested, including marketing agent Vinayak Marathe, who was previously granted bail on 09‑09‑2026.
  • The complainant invested Rs 1,00,000 on 03‑10‑2023, Rs 11,00,000 on 24‑11‑2023, and later Rs 2.75 crore between 21‑02‑2024 and 30‑07‑2024, and alleges non‑payment of withdrawal requests.

Final Outcome

  • Bail is granted to Sachin Laxman Khadatare subject to:

1. Execution of a personal bond of Rs 50,000 with one or two sureties of equal amount.

2. Monthly reporting to the investigating officer on the first Monday of each month between 10:00 a.m. and 12:00 p.m. until trial commences.

3. Deposit of passport with the court within two weeks and prohibition on leaving India without court permission.

4. No tampering with witnesses or evidence, and obligation to keep the investigating officer informed of address and phone changes.

5. Attendance at all trial dates and avoidance of unnecessary adjournments; breach may lead to cancellation of bail.

  • The order is limited to bail; no comment on the merits of the case.

Topics: Legal Proceedings, Financial Crime, Bail