Pune: Court Rejects Anil Bhosale’s Bail Application in Shivajirao Bhosale Co-operative Bank Case

Shivajinagar, 25th March 2023: The Special Judge RN Hiwase has rejected former MLC Anil Bhosale’s bail application for the fourth time in the Shivajirao Bhosale Co-operative Bank embezzlement case, where a charge sheet has been filed against him and six other persons for allegedly embezzling Rs 496 crore 44 lakh from the bank.

Bhosale is currently in judicial custody, and an application was made on his behalf to obtain bail, which was rejected by the court.

The defence lawyer argued that bail should be granted to Bhosale on the grounds of principles of equity and the fact that the amount recovered was more than his liability. Bhosale has also applied for bail in the Bombay High Court and the Pune Special Court.

However, Adv. Sagar Kothari, the investors’ lawyer, objected to the bail and pointed out that Bhosale’s collective assets are over Rs 496 crore, and 12 people, including his wife Reshma Bhosale, have not been arrested yet.

Additionally, the court rejected Bhosale’s earlier appeal for temporary bail on medical grounds. The prosecution, represented by Additional Public Prosecutor Vilas Pathare, also opposed the bail application. The defence cited the forensic audit report, but Adv. Kothari argued that it did not change the facts of the case.

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