HIGH COURT OF UTTARAKHAND AT NAINITAL ORIGINAL JURISDICTION Dated Nainital the 17th March, 2011 1st Bail Application No. 153 of 2011 Order on the bail application of the accused. Prateek Kumar Saxena and another ……. Applicants Versus State of Uttarakhand …….. Opposite Party In Case Crime No. 163 of 2001 U/S 380 and 406 I.P.C. Police Station Kotwali Gangnahar, Roorkee District Haridwar Hon’ble Tarun Agarwala, J. Heard Shri Sharad Sharma, the learned Senior Counsel duly assisted by Mr. Ajay Veer Pundir, the learned counsel for the applicants and Shri S.S. Adhikari, the learned A.G.A. for the State. Inspite of time being granted, no counter affidavit has been filed. It transpires that the applicants took a loan of ` 17,78,000/- from the U.P. Financial Corporation in the year 1996. Since the loan was not paid back, the Corporation placed its own security outside the factory premises, inspite of which, it is alleged in the F.I.R. lodged in the year 2001 that the goods which were pledged to the Corporation was surreptitiously removed by the applicants resulting in further loss to the Corporation. This F.I.R. lodged in the year 2011 was acted upon and the applicants were finally arrested in February, 2011. Considering the aforesaid facts, the applicants are enlarged on bail subject to depositing a sum of ` 10 lacs before the Magistrate concerned in addition to their executing a personal bond and furnishing two sureties each of the like amount to the satisfaction of Magistrate concerned. (Tarun Agarwala, J.) Dated 17.03.2011 Shiv