India, March 31 -- The Bombay High Court on Thursday granted bail to Mahadev Deshmukh, the president of Shri Chhatrapati Shivaji Education Society in Satara, who was arrested by the Enforcement Directorate (ED) on May 6, 2022, for allegedly cheating several students to the tune of Rs.65.7 crore. Deshmukh's bail was considered on grounds of severe medical ailments and prolonged incarceration.

Deshmukh collected the amount from students under the guise of granting them admission in medical faculty. Part of the fund was withdrawn as cash for payment of salary and the rest were replenished to various other accounts, under the guise of purchasing medical equipment and services.

A special Prevention of Money Laundering Act (PMLA) court on Dec...