..(1).. IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO.1523 OF 2008 Anand Puttanna Shetty. ..Applicant. Versus State of Maharashtra. ..Respondent. .... Mr.Girish Kulkarni, Adv. for the applicant. Mr.K.V.Saste, APP, for the State. .... CORAM : SMT.V.K.TAHILRAMANI,J. CORAM : SMT.V.K.TAHILRAMANI,J. CORAM : SMT.V.K.TAHILRAMANI,J. DATED : 9th July, 2008. DATED : 9th July, 2008. DATED : 9th July, 2008. P.C.: 1. Heard the learned Advocate for the applicant and the learned APP for the State. 2. The applicant is seeking anticipatory bail in C.R.No.36 of 2008 of EOW, CB CID, Unit-III, Mumbai. The said case is under Sections 193, 403, 463, 464, 465, 468, 471, 420 IPC. 3. The case of the prosecution is that the applicant was the Secretary of the association in the year, 2000. The material on record shows that the daily collection of the sale of articles by the association was kept by the applicant with himself and it was not deposited in the bank. Huge amounts ..(2).. of Rs.10 lakhs and above were kept by the applicant with himself and they were not deposited in the bank. The learned Advocate for the applicant submitted that the cash amounts were kept so that the applicant could pay for transactions in cash as certain parties did not accept cheques or demand drafts. However, I do not see the necessity for the applicant to keep such huge amounts with himself. Whenever a transaction was to take place the amount could be withdrawn from the bank and given to the party concerned. 4. The material on record also shows that false entries were made in the minutes books to show that the meetings were held whereas infact the meetings of the association were not held. The association was earlier transacting with some firms. However, the applicant stopped transactions with many of the said firms and instead started transacting with some other institutions. It is the prosecution case that some of the institutions were bogus institutions and were not at all in existence. The names of some of these bogus institutions have been stated in the affidavit. Besides this, it is also seen that the applicant had opened bogus MST Account No.67-S-611 & CST ..(3).. No.67-C-5509 in the name of Hasmukh General Medical Stores, Kandivali, Charkop. 5. In my view, the material collected by the prosecution in the present case is such as to point out an accusing finger towards the present applicant. The Apex Court has observed in the decision of Directorate of Enforcement Vs. P.V.Prabhakar Rao, Directorate of Enforcement Vs. P.V.Prabhakar Rao, Directorate of Enforcement Vs. P.V.Prabhakar Rao, reported in 1997 SCC (Cri.) 978 1997 SCC (Cri.) 978 1997 SCC (Cri.) 978 that when the material gathered by the prosecution is such as to point out an accusing finger towards the accused, it is not a fit case to grant anticipatory bail. Moreover, the custody of the applicant would be necessary to find out the exact nature and extent of the racket. Hence, application for anticipatory bail is rejected. (SMT.V.K.TAHILRAMANI,J.) (SMT.V.K.TAHILRAMANI,J.) (SMT.V.K.TAHILRAMANI,J.)