One could very soon see Anand Appugol free as earlier as the High court Dharwad bench has issued an injunction and stayed the proceedings based on the FIR filed by the Co-operative department.
The co-operative department under section 64 & 65 of the co-operative act had filed an FIR against Anand Appugol and 16 other directors and employees of the Sangolli Rayana Co-op society after reports of non refund of deposits to the tune of Rs.300 crore.
Hundreds of depositors each gather near the HO hoping to get their hard earned money back, but Appugol has said that he has been hit by demonetization in a press meet earlier and he will need more time to repay. But he has never given any deadline. Each day the depositors come, wait and go back heart broken.
Appugol was arrested from Mumbai on the basis of the same FIR recently. The court has now asked the Co-operative department to first investigate the matter first and then file an FIR.
This is a great relief for Anand Appugol who could get bail easily now from the lower court.