Bombay High Court grants anticipatory bail to six in ₹700 crore APS Wealth scam, citing lack of evidence and misuse of criminal law against uninvolved family members in financial disputes.
Nagpur | August 8, 2025: In a significant development in the alleged ₹700 crore financial fraud involving Pune-based APS Wealth Ventures LLP, the Bombay High Court’s Nagpur Bench has granted anticipatory bail to six individuals accused in the case. The accused – listed as Nos. 3 to 8 in the FIR – were granted relief after their earlier plea was rejected by the Additional Sessions Judge, Akola, on June 23.
The case arises from a First Information Report registered at Khadan Police Station, Akola, on a complaint by Atmaram Amarsingh Rathod, alleging cheating, criminal breach of trust, intimidation, and common intention under IPC Sections 406, 420, 506, and 34. The complainant claimed to have invested ₹89.5 lakh in APS Wealth Ventures LLP, which is under broader scrutiny by the Economic Offences Wing (EOW) of Pune for a total scam allegedly worth ₹700 crore.
Represented by senior criminal lawyer Advocate Aashuutosh Srivastava, the accused sought anticipatory bail on the grounds that they were either elderly, homemakers, or working professionals unaffiliated with the daily business operations of the LLP. Srivastava argued that the FIR was an attempt to harass uninvolved family members of the primary accused without evidence of direct involvement or fiduciary breach.
Justice Urmila S. Joshi Phalke, after reviewing the evidence and the state’s response, ruled in favor of the accused. The court emphasized the principle that criminal prosecution should not be used as a tool in civil or commercial disputes, particularly to target family members who have no direct involvement.
Speaking after the judgment, Srivastava stated, “This decision reaffirms the constitutional protection of personal liberty and is a landmark reminder that justice must be evidence-based, not speculative.”
The ruling has drawn attention from legal experts who believe it sets a crucial precedent against the misuse of criminal law in financial disputes. Observers have lauded the court’s insistence on individual scrutiny, especially in cases involving elderly persons and women without clear roles in alleged corporate wrongdoing.
While the APS Wealth Ventures LLP case remains under detailed investigation by the EOW, today’s decision highlights the judiciary’s focus on safeguarding innocent parties from arbitrary arrest and the misuse of process.
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