Mumbai, Oct. 23 -- A City Civil and Sessions Court in Mumbai has granted bail to Vikram Chandrakant Pawar, a 37-year-old businessman from Satara, accused of an investment fraud worth nearly Rs 10 crore involving around 75 investors.
The order was recently delivered by Additional Sessions Judge N.G. Shukla under the Maharashtra Protection of Interest of Depositors (MPID) Act. The copy of the same was made available today.
Pawar was arrested on April 5, 2025, by the Economic Offences Wing (EOW) Unit-VII, Mumbai, in Crime No. 3/2025, facing charges under Sections 406, 420, 34 IPC, and Sections 3, 4 of the MPID Act. The prosecution claimed that Pawar and his associates lured investors with 8 per cent returns but defaulted on payments after co...