Manik Madhukar Sarve vs Vithal Damuji Meher

The Supreme Court addressed the bail granted to respondent no.1 under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 and various sections of the IPC including Sections 409, 420, 467, 468, 471, and 120-B. The Court held that the High Court erred in releasing the respondent on bail, emphasizing that the material presented was sufficient to establish his complicity in a financial scam involving misappropriation of ₹79.54 crores. The appeal was allowed, and the bail order was set aside.