An application for temporary bail for 14 days to Ashutosh Agashe,former director of Suvarna Sahkari Bank,for attending the funeral of his father Dnyaneshwar Agashe who died on Friday evening,was rejected by the Judicial Magistrate (First Class) G G Itkalkar on Saturday. The court granted him permission for attending the last rites under police bandobast. As per the court order,Ashutosh will have to pay the charges for the police bandobast.
The Economic Offences Wing of the Pune police had arrested Dnyaneshwar Agashe,his son Ashutosh,wife Rekha and 12 other officebearers of the bank on November 22 for alleged financial fraud to the tune of Rs 436.79 crore. Ashutosh and his father were remanded to magisterial custody and kept at Yerawada Central Prison. The sessions court had earlier denied them bail following which they had filed a bail application with the High Court.
Agashe senior was shifted to Sassoon Hospital on December 22 as he was suffering from severe diabetes and gangrene. He died of a heart attack on Friday evening.
On Saturday morning,Ashutoshs counsel Shrikant Shivade and Girish Kulkarni filed a temporary bail application. Shivade pleaded for temporary bail for 14 days for the funeral and the subsequent rituals. Public prosecutor A V Ausekar opposed it. He said Ashutoshs bail application was pending in the High Court.
The court rejected the temporary bail application of Ashutosh. Police allowed Ashutush to visit Sassoon hospital during the postmortem of his fathers body,which was completed around 3 pm. The body will be kept at hospital till his elder son arrives from Germany on Sunday. A family member said the body would be kept at their residence at Chandrashekhar,242,Shaniwar Peth around 9 am on Sunday and the funeral held at Vaikuntha crematorium.
EOW officials,meanwhile,said the death wont hamper investigations. Investigation officer,Narayan Khaire clarified,Most evidence is documental. We feel there wont be any hurdles. Chargesheet will be filed against the other accused. The accused allegedly sanctioned huge loans to selected persons and earned money for themselves. Of the total loan,89 per cent was given to only five percent of the borrowers,thus cheating depositors. The Agashe family and their business firms reportedly obtained loans worth Rs 265.45 crore illegally,which is to be repaid. The firms are Ashutosh enterprises,Kolhapur Steel Ltd and Brihans Bio Tech.