Bombay High Court Grants Interim Protection to APS Wealth Ventures Partner in Rs 700-Crore Case
Pune, 10th January 2026: The Bombay High Court has granted interim protection from arrest to Shubham Vijay Chavhan, stated to be a partner of Pune-based APS Wealth Ventures LLP, in connection with the alleged ₹700-crore financial irregularities linked to the firm.
The interim relief was granted by a single bench of Justice Madhav J. Jamdar on January 6, 2026, while hearing a criminal anticipatory bail application filed on behalf of Chavhan. The application raised concerns over alleged procedural lapses and the existence of multiple criminal proceedings based on the same set of allegations.
The case pertains to an FIR registered on May 24, 2025, at Chandannagar police station following a private complaint filed by Chhaya Nitin Patil. The FIR was lodged pursuant to an order passed by the Judicial Magistrate First Class, Pune, under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), directing the police to investigate the allegations.
During the hearing, the applicant’s counsel informed the court that an earlier FIR dated April 20, 2023, registered at Chaturshringi police station, already covers the same facts, transactions, and alleged modus operandi.
The earlier case is being investigated by the Economic Offences Wing (EOW), Pune, in connection with the alleged ₹700-crore financial controversy. It was also submitted that a charge-sheet has already been filed in the earlier case, indicating that the investigation and prosecution are at an advanced stage.
The court was further told that the complainant in the later FIR is already listed as a witness in the earlier case and that no new or distinct material had been presented to justify the initiation of a separate criminal proceeding. On this basis, the applicant argued that the subsequent FIR amounted to a duplication of proceedings and an abuse of the criminal process.
The defence also contended that no specific role or overt act had been attributed to Chavhan in the complaint. It was argued that his name was included only due to his occasional presence at the firm’s office premises, without any allegations of inducement, handling of funds, execution of agreements, or involvement in management or decision-making.
After considering the preliminary submissions, the High Court granted interim protection from arrest to the applicant and issued notice to the State of Maharashtra, directing it to file its response. The matter has been posted for further hearing.
