Bombay High Court Grants Interim Protection in APS Wealth Ventures Financial Case

Bombay High Court grants interim protection from arrest to APS Wealth Ventures partner in an alleged Rs. 700-crore financial case; state asked to file response.

Mumbai , January 8, 2026: The Bombay High Court has granted interim protection from arrest to Shubham Vijay Chavhan, a partner of Pune-based APS Wealth Ventures LLP, in connection with an alleged financial controversy involving transactions of around Rs. 700 crore.

The interim relief was granted by a single bench of Justice Madhav J. Jamdar through an order dated January 6, 2026, while hearing a criminal anticipatory bail application filed on behalf of the applicant. The application was moved through Advocate Aashuutosh Srivastava, who raised concerns over alleged procedural lapses and duplication of criminal proceedings.

Background of the case

The matter arises from an FIR registered on May 24, 2025, at Chandannagar Police Station, Pune, based on a complaint filed by Chhaya Nitin Patil. The FIR was lodged following directions issued by a Judicial Magistrate First Class under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), directing the police to examine the allegations made in a private complaint.

During the hearing, it was submitted that an earlier FIR dated April 20, 2023, registered at Chaturshringi Police Station, Pune, already covers the same set of facts, transactions, and alleged operational pattern. That case is currently being examined by the Economic Offences Wing (EOW), Pune, and a charge-sheet has already been filed, indicating that the matter has reached an advanced stage of inquiry and prosecution.

Allegation of multiple proceedings

The applicant’s counsel informed the court that the complainant in the later FIR is already listed as a witness in the earlier case. It was argued that no new or separate material has been placed on record to justify the initiation of a fresh criminal proceeding on the same allegations, and that the second FIR amounts to a duplication of proceedings.

It was further contended that no specific role or independent allegation has been attributed to Chavhan. According to the submissions, his name was included solely due to his presence at the firm’s office premises during certain visits, without any claim of involvement in fund handling, agreements, inducement, or decision-making activities.

Court’s direction

After considering the preliminary submissions, the court granted interim protection from arrest to the applicant and issued notice to the State of Maharashtra, seeking its response. The matter has been scheduled for further consideration before the High Court.

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