1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR. CRI.APPLICATION NO.3756 OF 2008 (PRAFULL NARAYAN MAHAJAN VS. STATE OF MAHARASHTRA & OTH.) _____________________________________________________________________________________________ Office Notes, Office Memoranda of Coram, appearances, Court's orders or directions and Registrar's orders. Court's or Judge's orders ______________________________________________________________________________________________ Shri Anil S. Mardikar, Advocate for Applicant. Shri T.A. Mirza, A.P.P. for Respondent /State. CORAM : R.C.CHAVAN, J. DATED : OCTOBER 24, 2008. 1. This is an application by a Director of the Bank, who allegedly abused his office in order to get loans sanctioned to his relations. One Kalavati Gangadharpant Dabhane is in arrears of Rs.80,293/- and one Lalita is in arrears of Rs.5,18,352/-. 2. The learned counsel for the applicant states that the applicant has been in jail since 06.10.2008 and has cooperated with the investigation. The applicant would be ready to deposit the sum of Rs.Three Lacs by 10th November, 2008 and would create a charge for the balance amount on immovable property belonging to him to show his bonafides. 2 3. The learned A.P.P. submits that the investigation is still in progress and much more information is required from the applicant. It is, however, not clear as to how the Investigating Officer hopes to get information from the applicant who is in magisterial custody. 4. In view of this, following order is passed : i) The applicant be released on executing a P.R. Bond of Rs.Fifty Thousand with solvent sureties in the aggregate sum of Rs.Fifty Thousand, upon depositing a sum of Rs.Three Lacs on or before 10th November, 2008. The applicant shall also create a charge on the immovable property to secure the balance amount, within a week of his release. ii) Upon deposit of the amount and furnishing security the applicant be released on bail, if not wanted in any other case. 3 iii) The learned Magistrate shall invest the amount, so deposited, in fixed deposit in State Bank of India, so as to ensure that it earns maximum interest and the learned Magistrate shall deal with such deposit as well as the property charged as if it is the property attached in the case, at the end of the trial. 5. Hamdast allowed. JUDGE RR.