Pune court rejects bail plea of woman accused in ₹1.04 cr fraud

The case concerns allegations that the applicant, her husband and a co-accused persuaded an investor to put money into a business project by promising substantial returns

A Pune sessions court has rejected the anticipatory bail application of a woman accused of allegedly duping an investor of ₹1.04 crore through an investment scheme, observing that a prima facie case of a serious offence was made out against her and that her custodial interrogation was required.

Documents were shown to convince the investor of the project’s credibility. (REPRESENTATIVE PHOTO)

In an order dated Oct 21, 2026, additional sessions judge R R Mendhe rejected the application filed by Priyanka Shinde in connection with an FIR registered at Baner police station on May 5, 2025, under Sections 316, 318(4) and 3(5) of the Bharatiya Nyaya Sanhita (BNS), relating to criminal breach of trust, cheating and acts committed by several persons in furtherance of a common intention.

The case concerns allegations that the applicant, her husband Shivaji Shinde and a co-accused persuaded an investor to put money into a business project by promising substantial returns.

According to the prosecution’s case, the applicant and the co-accused met the informant at her office on June 3, 2022, and presented details of their project. They claimed that their product had significant demand across India and that Shivaji Shinde’s company had secured projects worth ₹12 crore from Aarti Industries. Documents were shown to convince the investor of the project’s credibility.

The prosecution alleged that the accused repeatedly persuaded the informant to invest, promising an 18% return. Between 2022 and 2024, the informant invested approximately ₹1.24 crore. Although some returns were paid initially, the accused failed to repay the outstanding amount. The informant also alleged that she was asked to hand over gold ornaments for investment in the project.

According to the order, the alleged loss was calculated at ₹1.04 crore.

Referring to a Supreme Court judgment in Nikita Jagannath Shetty alias Nikita Vishwajeet Jadhav versus State of Maharashtra, reported in 2025 SCC OnLine 1489, the court reiterated that anticipatory bail is an exceptional remedy and should not be granted routinely in serious cases. The court concluded that Priyanka Shinde had failed to make out a case for pre-arrest protection and rejected her application.