Manik Madhukar Sarve vs Vithal Damuji Meher

insc-2024-636 Supreme Court of India 28 August 2024 • CRIMINAL APPEAL NO.3573 OF 2024; SPECIAL LEAVE PETITION (CRL.) NO.3945 OF 2022 • 19 min read

Judges (2)

Ahsanuddin Amanullah Delivered Hima Kohli Coram

Parties (3)

Jai Shriram Urban Credit Co-operative Society Limited Respondent Manik Madhukar Sarve Appellant Vitthal Damuji Meher Respondent

Case Significance

Manik Madhukar Sarve vs Vithal Damuji Meher is a Supreme Court of India decision dated August 28, 2024 (citation: insc-2024-636). Depositors of a cooperative society challenged bail granted to the society's president accused of misappropriating Rs. 79.54 crores from 798 depositors under Sections 409, 420, 467-471 IPC and the MPID Act. The Supreme Court cancelled the bail, finding the High Court's order did not align with established bail principles given the fraud's magnitude and risk of property dissipation. Liberty was granted to the respondent to apply afresh in changed circumstances. The bench comprised Justices Ahsanuddin Amanullah and Hima Kohli. The judgment was delivered by Justice Ahsanuddin Amanullah.

Summary

Depositors of a cooperative society challenged bail granted to the society's president accused of misappropriating Rs. 79.54 crores from 798 depositors under Sections 409, 420, 467-471 IPC and the MPID Act. The Supreme Court cancelled the bail, finding the High Court's order did not align with established bail principles given the fraud's magnitude and risk of property dissipation. Liberty was granted to the respondent to apply afresh in changed circumstances.

What was the outcome of Manik Madhukar Sarve vs Vithal Damuji Meher?

Depositors of a cooperative society challenged bail granted to the society's president accused of misappropriating Rs. 79.54 crores from 798 depositors under Sections 409, 420, 467-471 IPC and the MPI...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (insc-2024-636)