((-1-)) mst IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL WRIT PETITION NO.1421 OF 2008 Sanjay Chandrakant Kirloskar Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1462 OF 2008 Prabhakar D. Gune Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1526 OF 2008 Vijay Ravi Kirloskar Petitioner versus The Commissioner of Police, Pune and others Respondents ALONG WITH WRIT PETITION NO.1527 OF 2008 P.R.Mundhewadi Petitioner versus The Commissioner of Police, Pune and others Respondents ALONG WITH WRIT PETITION NO.1528 OF 2008 N.Saivatsa Petitioner versus The Commissioner of Police, Pune and others Respondents ALONG WITH WRIT PETITION NO.1530 OF 2008 ((-2-)) Preet Mohan Singh Malik Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1541 OF 2008 Kamlesh Suresh Gandhi Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1546 OF 2008 M.V.Patwardhan Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1554 OF 2008 Dr.Kadur S. Krishnaswamy Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1555 OF 2008 Dr.Vishwanathpura Parmeshwara Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1556 OF 2008 Dattatraya V. Tikekar Petitioner versus The Commissioner of Police, Pune and another Respondents ALONG WITH WRIT PETITION NO.1557 OF 2008 ((-3-)) Jayant Gupta Petitionr versus The Commissioner of Police, Pune and another Respondents Mr.Niteen Pradhan, Sr.Counsel with Ms.S.D.Khot and Ms.Ameeta Kuttikrishnan with Miss K.Patil for petitioners. Mrs.S.D.Shinde, APP in WP Nos.1421/2008, 1528/2008, 1530/2008. Mr.S.R.Borulkar in WP Nos.1462/2008 & WP 1527/2008. Mrs.P.H.Kantharia in WP Nos.1554/2008 & WP 1555/2008. Mr.A.S.Pai in WP Nos.1526/2008, 1541/2008, 1546/2008, 1556/2008, 1557/2008. CORAM : BILAL NAZKI AND A.A.KUMBHAKONI, JJ. DATE : 22nd September 2008 PC : 1. The prosecution was sought to be launched against the petitioners under M.P.I.D. Act, 1999 (Maharashtra Protection of Interest of Depositors {In Financial Establishment} Act, 1999) (hereinafter referred to as "the said Act"). 2. In Writ Petition No.5186 of 2001 and others, the Full Bench of this Court ruled that the said Act was ultra vires to the Constitution of India. Against the judgement ((-4-)) of the Full Bench of this Court, petition(s) for Special Leave to Appeal (Cri) No(s). have been filed in the Supreme Court and the Supreme Court on 18th November 2005 has passed following order :- "ORDER Heard both sides. In view of the amount involved in the various transactions and the number of prosecutions launched under the provisions of Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999, we grant interim stay in the following manner : In case where investigations are in progress the prosecuting agency shall continue with the investigation. But there shall not be further prosecutions of the accused persons and as regards pending cases the status quo as on today shall be maintained. It is submitted that in 9 cases already accused persons have been convicted and the convicted persons would be at liberty to apply for bail and the court would be at liberty to pass order granting bail. The interim attachment granted by the competent authority shall subsist until further orders. However, in cases where applications for release of attachment have been filed the same should be disposed of in accordance with law by separate orders. There shall not be sale of attached properties. The Authorities shall not take any coercive steps to recover the amount under the Act. Issue notice in IA Nos.6-10 returnable within a period of four weeks. Permission granted for filing appeals. ((-5-)) Counter affidavit shall be filed within four weeks. The convicted and the under-trials be released on bail." 3. After this order was passed by the Supreme Court, various other petitioners approached this Court seeking relief on the premise that the Act has been held to be ultra vires. Therefore, we passed orders in cases including present one in conformity with the order passed by the Supreme Court. We have been informed that these appeals are still pending in the Supreme Court. 4. We feel that the fate of these cases depends on the judgement of the Supreme Court which will be rendered by the Supreme Court in the appeals pending before it. If the judgement of the Full Bench of this Court is upheld by the Supreme Court, then all prosecutions initiated under the said Act, will become illegal and unconstitutional. On the other hand, if the judgement of this Court is reversed, then all the prosecutions will have to be carried in accordance with the Act. 5. We, therefore, dispose off these petitions ((-6-)) with following directions :- (a) The prosecution, if any, launched against the petitioners, shall remain stayed till further orders are passed by the Supreme Court in Petition(s) for Special Leave to Appeal (Cri) No(s).406-409 of 2004; (b) The fate of this prosecution will be governed by the orders that may be passed by the Supreme Court in the aforesaid pending appeals. (BILAL NAZKI, J.) (A.A.KUMBHAKONI, J.)