Pune: Bombay High Court Grants Bail to Anil Bhosale Amidst New Developments in Embezzlement Case

Pune, 21st August 2024: The Bombay High Court has granted bail to former MLC Anil Bhosale, who had been incarcerated for the past three years in connection with the Shivajirao Bhosale Co-operative Bank embezzlement case. Bhosale’s legal troubles may intensify following the recent arrest of Mangaldas Bandal, former chairman of the Pune Zilla Parishad’s construction department, by the Enforcement Directorate (ED).

The Pune Police’s Economic Offence Wing took action against Bhosale after uncovering the embezzlement of Rs 433 Crore and 44 Lakh. Bhosale was arrested three years ago, and an extensive 8,000-page charge sheet was filed on 6th September 2021, against Bhosale, Bandal, bank managers, and others involved.

Bhosale faced accusations of defrauding borrowers and investors. While Bandal was granted bail a few months ago, Bhosale’s bail applications were rejected four times by the sessions court. He appealed to the Bombay High Court, which has now granted him bail under specific conditions.

Also, yesterday the ED raided properties linked to Mangaldas Bandal and subsequently arrested him. There is speculation that Bhosale may also be summoned for questioning by the ED in connection with this case.