1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRI.APPLICATION NO. 2666 OF 2009 1. Shri Vithalrao Dattatray Jadhav, 2. Shri Rajan Keshav Jagdale, 3. Shri Satish @ Raju Anandrao Ghorpade, 4.Shri Jaysing Marutrao Shinde, 5.Shri Anil Bhaurao Mane, 6.Shri Shashikant Bhagwan Karale, 7.Shri Sunil Panditrao Padalkar, 8.Shri Shamrao Dada Khot, 9. Sau.Usha Ramesh Bhat, 10.Sou Hemlata Ravji Kurade, 11.sou Vidya Rajan Patil. .. Applicants Vs State of Maharashtra .. Respondent Mr. Shekhar A Ingawale, Advocate for the Applicants. Mr. K.V.Saste, APP, for the Respondent. CORAM : D.B.BHOSALE, J. DATE : 03/07/2009 PC: 1. Heard learned counsel for the applicants and learned APP for the respondent. 2. The applicants are seeking anticipatory bail in C.R.No.58 of 2009 of Juna Rajwada Police Station, Kolhapur. The said crime has been registered against the applicants and five others for having allegedly committed an offence punishable T 2 under sections 403, 405, 407, 415, 436, 417, 427, 463, 465, 467, 48, 477(A) of IPC. 3. All the applicants are the Directors of Shri Swami Samartha Nagari Patsanstha, Kolhapur. It is alleged that the applicants disbursed loan to its members without following due procedure and norms and without verifying repayment capacity of the borrowers and thereby caused loss to the credit society to the tune of Rs.91,97,160/-. This amount remained outstanding and unrecovered up to 31.3.2003. On last date of hearing, a statement of Mr Ingawale, learned counsel for the applicant, was recorded, stating that the applicants and their relatives are having more than seventy lacs fixed deposits with the Patsanstha and they are prepared to file affidavits within two weeks, stating that they shall not withdraw the fixed deposits and that they will not have any objection for adjusting the amount of fixed deposits with interest towards the loss caused to the Patsanstha due to nonpayment of loan amount by the borrowers. In view of the statement, Mr Ingawale, learned counsel for the applicants, has tendered affidavits of all the directors and their relatives, stating that they will not withdraw the fixed deposits on maturity and they have no objection for adjusting the amount of fixed deposits with interest towards the 3 loss caused to the Patsnatha due to nonpayment of the loan amount by the borrowers. The directors have also given undertakings in their affidavits stating that in the event of non recovery of the loan amounts from the borrowers and even after the adjustment of the fixed deposits, if some amount is still required to be adjusted, in that event they are prepared to take liability jointly and severally with other directors to repay the said amount out of their movable and immovable properties. All the affidavits (205 affidavits) are taken on record along with Index. The applicants undertake to furnish copies of these affidavits to the Patsanstha and one copy to the investigating officer for their record and information along with the index prepared by the applicants. The total amount, as stated by all the Directors and their relatives in their affidavits, is about 1,07,68,310/-. The statements made on affidavits and the undertakings given therein are accepted. In view of the affidavits filed by the Directors and their relatives, I am inclined to grant this application for anticipatory bail. Hence, the following. In the event of arrest, the applicants be released on bail in the sum of Rs.25,000/- each with one or two sureties to make up the said amount, subject to the 4 conditions incorporated in sub-section (2) of Section 438 of Cr.P.C. Further,the applicants are directed to report to the concerned police station on every alternate day between 10 am and 12 noon till 18.7.2009 and thereafter as and when called. While passing this order I shall not be understood to have expressed any opinion on merits of the case and the trial Court shall deal with the case uninfluenced by the observations made in this order. The application is disposed of. (D.B.Bhosale, J.)