Chhatrapati Sambhajinagar
The Aurangabad bench of the Bombay High Court has rejected the regular bail application of Premalata Badrinarayan Baheti, a director arrested in connection with the alleged multi-crore embezzlement in the Rajasthani Multistate Co-operative Credit Society.
Justice Shailesh P. Brahme denied relief, observing that economic offences are not merely crimes against individuals but have a serious impact on the financial well-being of society. During the hearing, public prosecutor Preeti Diggikar opposed the plea, informing the court that cases registered at Udgir city and Jawaharnagar police station in Chhatrapati Sambhajinagar involve alleged misappropriation of Rs 13 crore and Rs 6.5 crore, respectively. Despite being a woman applicant, loans exceeding Rs 4 crore were allegedly disbursed to her without following due legal procedure. An audit report shows outstanding dues of TRs 11.52 crore against her, and as many as 17 cases have been registered in various districts. The court also noted that depositors were allegedly lured with promises of higher returns. Baheti had sought bail on the ground of parity, but the bench rejected the plea, stating that the roles of the co-accused were different.