Nagpur: The Judicial Magistrate First Class (JMFC) Court, under Judge Aarti Krishna Bankar, on Thursday remanded Sharad Apparao Maind, Director of Pusad Urban Co-operative Bank, to magisterial custody in connection with the alleged abetment of suicide of government contractor Penmacha Verma.
The action followed an FIR lodged by Anuradha Penmacha Verma, wife of the deceased, at Sadar Police Station on September 17, 2025. Police arrested Maind the same day in Pusad and produced him before the Nagpur court on September 18.
Allegations by the Complainant
According to the FIR, Verma, a government contractor, had availed a loan from the Pusad Urban Co-operative Bank in 2011, facilitated by one Rajesh Pillewar. His wife alleged that:
Gold Rate
24 Sept 2025
- Maind and his wife, also a bank director, repeatedly pressured Verma to mortgage properties and repay loans.
- Verma was allegedly harassed over penal interest and coerced into taking multiple loans under different names.
- The accused threatened that mortgaged properties were “disputed” and warned of filing a criminal case if EMIs and interest were not paid.
Unable to bear the alleged financial and mental pressure, Verma died by suicide on September 2, 2025, she claimed.
Police sought eight days of custody remand to investigate the alleged extortion, loan transactions, and involvement of bank officials.
Defence Arguments
Opposing the remand plea, Advocate Prakash Naidu, appearing for Maind, argued that demanding loan repayment does not amount to abetment of suicide. He contended:
- The deceased was deeply indebted to several individuals, not just the bank.
- Verma had sold mortgaged properties without the bank’s consent, worsening his liabilities.
- The FIR was lodged 16 days after the suicide, raising suspicion of an “afterthought” to pressurize lenders.
Naidu also highlighted alleged procedural lapses by police, stating that Maind was arrested in the morning from his office (as captured on CCTV) and subjected to a search and medical checkup before being taken to Nagpur. However, his arrest memo was prepared much later, allegedly violating the 24-hour rule of producing an accused before a magistrate.
On these grounds, the defence argued that Maind’s detention was illegal and sought his immediate release.
Court’s Order
After hearing both sides, Judge Bankar remanded Maind to magisterial custody while reserving orders on the defence plea regarding “illegal detention.”
Advocates Prakash Naidu, Homesh Chauhan, Mitesh Bais, Surabhi Godbole Naidu, and Dhruv Sharma represented the accused in court.
