High Court Grants Pre-Arrest Bail in APS Wealth Fraud Case

The Nagpur bench of the Bombay High Court has granted pre-arrest bail to six individuals accused in a financial fraud case involving APS Wealth Ventures LLP, a Pune-based firm. The bail was issued after initial rejection by a lower court, following allegations of cheating investors out of Rs 89.5 lakh.

In a recent development, the Nagpur bench of the Bombay High Court has issued pre-arrest bail to six individuals accused in a financial fraud case linked to APS Wealth Ventures LLP. The Pune-based firm is under scrutiny as complainant Atmaram Amarsingh Rathod alleges being cheated out of a substantial investment.

Justice Urmila Joshi-Phalke issued the order on July 30, though it became publically available only recently. The accused sought relief from the High Court after their previous anticipatory bail plea was dismissed by the Additional Sessions Judge, Akola. This decision marks a significant turn in the ongoing legal proceedings.

The allegations involve Avinash Arjun Rathod and his wife, alongside the six applicants, who reportedly promised high returns to investors, including the complainant, but allegedly failed to deliver. Assistant Public Prosecutor V A Thakare opposed the bail plea, arguing for custodial interrogation, but the court eventually granted the bail, stating such interrogation was not necessary.

(With inputs from agencies.)