Subhash Zambad granted conditional bail in second case

Lokmat News Network

Chhatrapati Sambhajinagar

Chairman of Ajanta Urban Co-operative Bank and former MLA Subhash Zambad has been granted conditional bail in a second criminal case. Special Judge for MP/MLA cases and additional sessions judge Rajesh D. Patil granted the conditional bail on a personal bond of Rs 1 lakh in the second case registered at the City Chowk Police Station. The second case (Crime No. 426/2024) was filed in November 2024 against Subhash Zambad and the board of directors for the embezzlement of Rs 21 crore by showing bogus deposits as collateral. The court has now granted bail in this matter. Previously, on January 30, 2026, the Supreme Court had granted Zambad conditional bail in the first case filed at the City Chowk Police Station on October 18, 2023.

Bail granted under these conditions

Subhash Zambad must not leave the country without the court's permission. He must remain present in court regularly during the trial hearings. Until further orders, he must not enter the premises of the disputed institution (Ajanta Urban Co-operative Bank) or interfere with the bank's operations. Additionally, he must not tamper with the prosecution's evidence.

Advocate S. G. Ladda represented Zambad, while assistant government pleader S. V. Mundwadkar represented the state.