1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO. 3267 OF 2009 ALONGWITH CRIMINAL APPLICATION NOS. 3112, 3162, 3171, 3172, 3175. 3183, 3269, 3513 & 3579 OF 2009 Kaksaheb Appasaheb Patil & ors......... Applicant versus The State of Maharashtra ........Respondent. Mr. P.G. Sarda adv. for the Applicants in Appln. No. 3267, 3162, and 3269 of 2009 Mr. V.V. Purwant Adv. For applicant in Appln No. 3112/09. Mr. Sandeep S. Salunkhe Adv. For the applicant in Appln No. 3171, 3172, 3175 & 3183 of 2009. Mr. Surel S. Shah Adv. For the applicant in Appln No. 3269, 3579 and 3513 of 2009. Mr. H.J. Dedhia APP. for the Respondent/State. In Appln no. 3267 and 3269 of 2009 Mr. J.P. Yagnik APP for State in Appln No. 3112, 3175 & 3579 of 2009. Mrs. P.P. Shinde APP for the State in Appln No. 3162, 3171, 3172 of 2009 Mrs. S.D. Shinde APP for State in Appln No. 3183/09. Mr. Y.M. Nakhwa APP for State in Appln No. 3513/09. CORAM: A. P DESHPANDE, J. DATED : 01st September,2009. P. C.: 1. In all these applications, the applicants are apprehending 2 arrest in connection with C.R. No. 97/09 for offences punishable under sections 406, 408, 409 read with 34 or IPC for misappropriation of the amounts of the credit society registered with Kurduwadi police station. Offence has been registered against 34 persons, some of whom are the applicants herein. Applicants were in the administration and management of the affairs of the credit society by name Mahatma phule Bigar Sheti Sahkari Patsanstha during the year 2004-05 to 2007-08, either by virtue of being the Chairman, Director, the Branch Manager or staff members working in the said society. In the audit for the year 2004-05 to 2007-08 it was revealed that the persons named in the FIR and others had misappropriated the amount, borrowed the amounts by way of advance though not permissible, advanced loans, which were not secured and thereby failed to repay the amount due and payable to the depositors whose number was more than 1100. According to the learned counsel for the present applicants, the applicants are innocent and have not committed any crime. 3. A common affidavit has been filed by the respondent/State in Criminal Application No.3679/09 wherein it is stated that the present applicants were either the Chairman, Directors, Branch Managers or Ex-Branch Managers during the year 2006-07 and 2007-08 of the society. The society had 13 branches at different places. In the affidavit, it is stated that the present applicants are guilty of misappropriation of the amounts besides being guilty of committing irregularities for siphoning of the money of the society 3 for personal gains. The total amount of misappropriation is stated to be in the sum of Rs. 29,96,29,997/-. The misappropriation is stated to have been committed in collusion and connivance by the directors and the staff members. Deposits to an extent of Rs. 2,90,00,000/- and above though having been matured could not be returned and the innocent depositors whose number is 1122 are to be repaid their amounts. The learned counsel for the applicant has also submitted that after the registration of the crime, various amounts are recovered and most of the depositors are also repaid the amount. Whatever recoveries are made after the registration of the crime, the present applicants cannot take credit for the said recovery and disbursement of the amount to the depositors. The investigation appears to be at a preliminary stage, as yet the role played by each of the applicants has not been correctly ascertained. In the above set of facts, the learned APP appearing for the State submits that huge public money has been misappropriated, by siphoning the funds of the society and thereby the innocent depositors are duped. Having regard to the various facets of the commission of the crime, I am of the view that this is not a fit case for grant of anticipatory bail. Personal liberty has to be balanced with public interest. In the present case public interest demands a thorough investigation. Having regard to the amounts involved and having regard to the manner in which the offence has been committed, I do not feel that this is a fit case for grant of anticipatory bail to the applicant. The learned counsel for the applicants has placed reliance on some judgments including 4 the judgment of the Apex Court reported in K.C.C. Software Ltd. Vs. Director of Income tax reported in 2009-JT-1-659, 2008- Scale-2-90, 2008(TLS)45333, to contend that there could rise only a civil liability when the amounts are deposited by the depositors with the banker and the amount has not repaid. The said judgment has no application to the facts of the present case as the credit society cannot be equated with the bank and a member of the credit society also cannot be equated with a depositor. The rights and obligations of the elected directors so also the members are regulated by the provisions of Maharashtra Co-operative Societies Act. Be it as it may, in the facts of the present case, I am not inclined to grant anticipatory bail to any of the applicants as at this stage it is difficult to comprehend the role played by each of the applicant separately. Hence applications are rejected. 4. At this stage the counsel for the applicants seek stay of this order for a period of four weeks. Having regard to the facts and circumstances I am not inclined to grant said prayer. Request is rejected. (A. P. Deshpande, J.)