2 founders of Bhaichand Raisoni Society get anticipatory bail

Lokmat News Network

Chhatrapati Sambhajinagar

The Aurangabad division bench of Bombay High Court comprising Justice R M Joshi granted anticipatory bail to the founders of Bhaichand Hirachand Raisoni Multi-State Cooperative Society Bhaichand Raisoni and Bhagwat Sampat Mali in the case of Rs 700 crore scam. Similarly, Justice S G Meher has granted conditional regular bail to 12 other directors of the society in this case.

A case was registered against the embezzlement of more than Rs 700 crore in the BHR Bank. The directors had filled out applications for anticipatory bail. The directors duped the depositors on the lure of lucrative returns on the deposits. Cases were registered against the directors under IPC sections 420, 406, 409, 120B, 34 and MPID Act sections 3,4 to 82. The evidence of more than 500 witnesses were registered.

As per the directives of the Bombay High Court, the case was heard in the special MPID court at Jalgaon on a daily basis. Most of the directors were in prison for a long period and the chargesheets were filed in all the cases, hence bail can be granted to the applicants, the division bench stated.

The anticipatory bails were submitted through Adv Abhishek Avchat and Adv Prasad Jarare while Adv G L Deshpande and ADv K S Patil appeared for the prosecution.