1 APPLN-4948-2010 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO.4948 OF 2010 Rajendra Pannalal Sanghavi. ..Applicant. Versus The State of Maharashtra. ..Respondent. ................. WITH CRIMINAL APPLICATION NO.119 OF 2011 IN CRIMINAL APPLICATION NO.4948 OF 2010 Shri Rajendra Pannalal Sanghavi. ..Applicant. Versus The State of Maharashtra. ..Respondent. And The Nashik Merchant Co-operative Bank Limited, Nashik. ..Applicant/Intervenor .... Ms.Anjali Awasthi, Advocate for the Applicant. Mr.R.M. Hardas, Advocate i/b. Mr.P.N. Joshi, Advocate for Intervenor in Cri.Appln.No.119/2011. Mrs.S.D. Shinde, A.P.P. for the State. .... CORAM : A. R. JOSHI, J. DATED : 22nd MARCH, 2011. 2 APPLN-4948-2010 P. C. : 1. Heard rival submissions on this application for anticipatory bail preferred by the Applicant apprehending his arrest in connection with C.R. No.172 of 2010 registered with Satpur Police Station, Nashik for the offences punishable under Sections 420, 465, 467, 468, 471-A, 408 r/w 34 of Indian Penal Code. 2. On or about 1st September, 2010 a complaint was lodged by The Nashik Merchants' Co-operative Bank Ltd.. The main allegations in the said complaint are that the Applicant approached the complainant-bank with a request for raising a loan on certain immovable property owned by him. The loan proposal was processed by the Bank officials and valuation report was asked to be prepared by the valuer who was appointed by the complainant- bank. According to the allegations, the said valuer had given inflated valuation report showing excessive value, though, the actual value of the land was much less. On the strength of such valuation report, a loan of Rs.14 lacs & odd was granted. The valuation of the property was apparently made to the tune of Rs.22 lacs, though, the actual value according to the complainant was about Rs.3 to 4 lacs. This is the main gist of the allegations against 3 APPLN-4948-2010 the present Applicant and the co-accused (valuer of the Bank). Reportedly, the co-accused (valuer of the Bank) had been granted anticipatory bail by the Sessions Court. 3. When the matter was before the another Bench on earlier dates, a sort of undertaking was given by the Applicant that he will pay the requisite loan amount to the concerned Bank and also undertook to pay the loan of Rs.14,14,000/-. However, subsequently a document was produced before this Bench showing that only an amount of Rs.6 lacs was paid till date. Today, a copy of written letter 17th April, 2011 [month is wrongly mentioned as April instead of March], in which a request is made to the complainant-bank by the present Applicant, so as to amicably settle the dispute by giving him an opportunity to settle the bank-claim by One Time Settlement and asking for some installments. 4. Without going into the transactions as to settlement or otherwise interse between the complainant-bank and the present Applicant, suffice it to say that on the fact situation of the matter, there is no need of custodial interrogation of the present Applicant. However, certain conditions can be imposed on the Applicant to assist the Investigating Officer, and on those conditions anticipatory 4 APPLN-4948-2010 bail can be granted to the Applicant. Hence, the order :- :: O R D E R :: [i] Criminal Application No.4948 of 2010 for anticipatory bail is allowed and accordingly disposed of. [ii] In the event of arrest of the Applicant - Rajendra Pannalal Sanghavi in C.R. No.172 of 2010 registered with Satpur Police Station, Nashik, he shall be released on bail on his executing a P.R. bond in the sum of Rs.25,000/- (Rs.Twenty Five Thousand Only) with one surety in the like amount. [iii] In the event of arrest and availing the bail, as above, the Applicant shall attend the concerned Police Station on every Monday and Thursday between 10:00 a.m. to 12:00 noon, till filing of the chargesheet. [iv] In view of passing of the above order, the intervention application i.e. Criminal Application No.119/2011 filed by the Bank stands disposed of. (A. R. JOSHI, J.) PPD