India, April 11 -- A special Maharashtra Protection of Interest of Depositors (MPID) Act court on Friday granted bail to businessman Purushottam Prabhakar Chavan, who is accused of cheating investors of Rs.7.42 crore by offering purported government quota plots at subsidised rates, holding that prolonged incarceration cannot be sustained once investigation is complete but trial has not even commenced.

The accused, in custody since June 2025, "cannot be kept under incarceration for indefinite period" when the charge-sheet has been filed, evidence has already been seized, and the case remains at the stage of procedural compliance, the court said.

The case arises from a first information report (FIR) registered against Chavan, husband of a...