1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO. 126 OF 2009 Suresh Jinnappa Chougule ..... Applicant. v/s The State of Maharashtra ...... Respondent. ------ Mr. Tejpal S. Ingale for the applicant. Mr. D.P. Adsule, APP for the State. ------ CORAM : V.M. KANADE, J. DATE : 30th January, 2009 P.C.:- 1. Heard the learned Counsel for the applicant and the learned APP for the State. 2. A complaint has been filed against the present applicant for the offence punishable under sections 406, 420 read with section 34 of the Indian Penal Code. 3. It is alleged that when the applicant and others were Directors of the said Credit Society, they had given loans to various persons without scrutinizing their applications properly and, as a result, an amount of Rs 4,86,93,615/- was due and outstanding from various creditors. It is also alleged that the Directors had taken loan from the Bank and had not repaid it. Against the present applicant, an allegation is made that an amount of Rs 3,00,000/- was taken by him as a 2 loan. 4. Counsel for the applicant submits that other Directors have been released on bail and some of them have been granted anticipatory bail by this Court. Applicant has filed an affidavit disclosing his individual assets and has given an undertaking to this Court that he shall not dispose of any of these assets or create any third party rights or hand over possession in respect of the said property to any other person. He has also invited my attention to the fact that the loan which was taken by the applicant has been repaid and a certificate to that effect has been annexed by him to the application. A report has been submitted by the auditor dated 5/12/2008 which is annexed to the application. The said report discloses that out of the amount Rs 4,86,96,615/- , an amount of Rs 3,30,08,331/- has been recovered. From this report, it appears that substantial amount has been recovered with the assistance of Board of Directors by the Administrator who has now been appointed in their place. 5. In view of this material on record, custodial interrogation of the applicant is not necessary. Applicant is also suffering from various ailments. The undertaking given by the applicant in his affidavit dated 9th January, 2009 is accepted. 6. Applicant, under these circumstances, in the event of 3 his arrest in connection with C.R. No.97/2008 registered at Jaysingpur Police Station, be released on bail in the sum of Rs 10,000/- with one or two sureties in the like amount. Applicant shall cooperate with the police and shall report to the concerned Police Station as and when called. 7. Application is disposed of. (V.M. KANADE, J.)