1 BA 319-2011 Anand IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL BAIL APPLICATION NO.319 OF 2011 Vivek Ramchandra alias Achyut ..Applicant Thombare V/s. The State of Maharashtra ..Respondent Mr.A.B.Tajane, Advocate, for the Applicant Mrs.Geeta P. Mulekar, APP, for the Respondent - State CORAM : R.C.CHAVAN, J. DATE : 20TH APRIL, 2011 P.C. . This is an application for bail by a person, who is arrested in connection with C.R.No.99 of 2010 for the offence punishable under Sections 406, 409, 420, 467, 468, 471 read with Section 34 of the Indian Penal Code registered with Vishram Baug Police Station, District Pune and who has cheated several Banks by taking loans from those Banks and failing to pay the Banks as per the repayment schedule. The applicant is in jail for the last one year. The learned Counsel for the 2 BA 319-2011 applicant has filed on record statement of the applicant on solemn affirmation made before the jailor of the prison where the applicant is lodged stating that the applicant would repay the loans as per the installments which he was supposed to repay to all the concerned Banks, aggregating to Rs.1,20,000/- per month. The learned APP states that the applicant has duped several Banks to the tune of Rs. 66,84,000/- and if he deposits a sum of Rs. 1,20,000/- per month it will not be enough even to cover the interest. All the same, some recovery would be definitely better than nothing. Since the applicant has already been in jail for about one year and investigation is complete and charge sheet has filed and the trial is not likely to commence before the JMFC soon, applicant's being in custody for the purpose of trial may not be necessary. Applicant be released on bail on his furnishing P.R.Bond of Rs.50,000/- with one or more solvent sureties in the aggregate sum of 3 BA 319-2011 Rs.50,000/- on the condition that the applicant shall repay the loans in installments as indicated in his statement on solemn affirmation attested by the jailor on 30th March, 2011. The repayment shall start one month after the applicant's release from prison. The Order shall stand automatically re-voked, if repayment schedule is not adhered to. If the Banks concerned refuse to accept repayment, the applicant would deposit the installments in the Trial Court which amounts the learned Magistrate shall invest in interest earning deposit in a Nationalized Bank and deal with it at the end of the trial as per the result of the trial. 2. Criminal Bail Application is disposed of. (R.C.CHAVAN, J.)