: 1 : wp-1475-11=.doc USJ IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION WRIT PETITION NO. 1475 OF 2011 Amit Jhaveri .. Petitioner v/s. The Bank of Baroda & Anr. .. Respondents ......... Mr. Niranjan Mundargi for the petitioner Mrs. V.R. Bhosale, APP for respondent no.2 ......... CORAM : R.Y.GANOO, J. DATE : 11th JULY, 2011. P.C. : 1. The petitioner was convicted under Section 138 of the Negotiable Instrument Act, 1881 by learned Metropolitan Magistrate, 14th Court at Girgaon, Mumbai by judgment dated 18th January, 2011 in C.C. No. 6314/SS/2005 (Old No.13/S/1995). By the said order, the applicant has been sentenced to suffer simple imprisonment for one year and to pay fine of Rs.14 crores and it was also ordered that in default of payment of this fine, petitioner to undergo simple imprisonment for 6 months. Out of the fine amount, a sum of Rs. 13 crores 50 lakhs has to be paid to Bank of Baroda, respondent no.1 as and way of compensation. The applicant felt aggrieved by the order of conviction as aforesaid and has : 2 : wp-1475-11=.doc filed Criminal Appeal No.125 of 2011 in the Sessions Court at Mumbai. In the said appeal, the applicant filed Miscellaneous Application No. 308 of 2011 praying for suspension of substantive sentence. Learned Additional Sessions Judge has by order dated 22nd February, 2011 ordered the applicant to deposit in this Court a sum equivalent to 10% of the cheque amount within 12 weeks. The impugned cheque was for a sum of Rs. 10 crores. This will mean that the applicant will have to deposit appropriate amount in the Court of Sessions Court. The applicant has challenged this order dated 22nd February, 2011. Learned Counsel Mr. Mundergi submitted that as the bank is holding securities and shares, market value which is in the vicinity of Rs.29 crores and to that extent the interest of the bank is adequately protected. According to him, the impugned order dated 22nd February, 2011 should be set aside taking into consideration the large amount of shares and securities lying with bank. 2. I have heard learned Counsel Mr. Mundergi. In my view, even if the word of the learned Counsel for the petitioner is accepted that a large quantity of shares and securities are lying in Bank of Baroda that has nothing to do with the compliance of the impugned order by which the applicant is put to terms. In my view, the learned Judge has taken the correct approach of the matter and has rightly passed the order. In : 3 : wp-1475-11=.doc fact he could have directed the applicant to deposit some more amount, looking to the figures involved in the matter. In my view, the applicant has been let off by putting him into the very insignificant and nominal terms. 3. No interference is required in the impugned order dated 12th February, 2011. At the same time, if the applicant is of the view that the Bank of Baroda is holding various shares and securities to the prejudice of the applicant and without any legal authority, the applicant is free to adopt appropriate proceedings to get back those shares and securities. Hence, following order is passed. ORDER (I) Petition is dismissed. (II) The applicant to comply with order dated 22nd February, 2011 that is to say time to comply with the said order is extended upto 12th August, 2011. If the applicant fails to deposit the amount as per order dated 22nd February, 2011, he shall surrender to his bail bond. Similarly, the Court of learned Additional Sessions Judge to keep a track over the conduct of the applicant and if the applicant fails to comply with the order dated 22nd February, 2011 on or : 4 : wp-1475-11=.doc before 12th August, 2011, the learned Additional Sessions Judge shall pass appropriate orders for arrest of the present applicant. (III) If the applicant is of the view that Bank of Baroda is holding shares and securities to the prejudice of the applicant and / or in an illegal manner, the applicant is free to adopt appropriate proceedings before the appropriate Court. (IV) Writ Petition stands disposed of in the above terms. (R.Y.GANOO, J.)