The Bombay High Court's Kolhapur bench has taken a stern stance in the investigation of a massive investment fraud, directing former Superintendent of Police (SP) of Kolhapur, Shailesh Balkawade, to appear before it. The court seeks his explanation regarding the probe into a multi-crore scam registered in October 2022, with allegations that the fraud amount was suppressed in official chargesheets.
Court Grills Successive Police Chiefs Over Probe Lapses
Justice Shivkumar Dige, presiding over the bench, explicitly asked for Balkawade's presence during the hearing of a bail application filed by a key accused. The judge questioned, "Where is Mr Balkawade. Is it suitable for him to come. I want to question him." This order follows a similar directive issued earlier for Balkawade's successor, Mahendra Pandit, who appeared before the court on December 9.
During that previous hearing, Pandit, who was the SP when the first chargesheet was filed, admitted to certain shortcomings in the investigation. The judge subsequently ordered him and five investigating officers—Shrikant Ingawale, Pallavi Yadav, Vishal Mule, Sheetalkumar Kolhal, and Chetan Mastuge—to submit written affidavits detailing their investigative actions.
Victims Allege Massive Financial Suppression
The case has drawn significant attention from the victims, who have filed an intervention plea opposing the bail of the main accused, 45-year-old Vishwas Nivrutti Koli. Koli, who operated an investment firm promising high returns, is currently in judicial custody.
During a recent hearing, lawyers representing the victims presented a startling claim. They submitted an affidavit indicating that the actual scale of the fraud exceeds Rs 12 crore and could be as high as Rs 280 crore, an amount allegedly suppressed in the official chargesheet. This revelation has added a new layer of complexity to the proceedings.
Judicial Scrutiny Intensifies as Probe Details Emerge
Justice Dige has adopted a meticulous approach, stating he will review all submitted affidavits before making any decisions. Responding to a victim's plea for a fresh probe by a Special Investigation Team (SIT), the judge clarified he would only consider such a move after recording statements from every concerned official.
The administrative timeline shows Balkawade was posted as Kolhapur SP in 2020 and transferred in May 2023. Mahendra Pandit replaced him and was slated to remain in charge until May 2025. Balkawade is currently serving in the Crime Branch of the Mumbai Police. The court is now keen to understand the handling of the case during Balkawade's tenure, especially concerning the filing of the initial chargesheet.
With another victim ready to file an affidavit and the court determined to question the former police chief, the legal battle surrounding this extensive economic crime is poised for further developments. The next steps hinge on the explanations provided by the investigating officers and the judicial assessment of the alleged investigative lapses.
