1 ABA 504.11.sxw JPP IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE SIDE JURISDICTION ANTICIPATORY BAIL APPLICATION NO. 504 OF 2011 Mr. Shivdas Bajrang Tagtode and Anr. ... Applicants. V/s. The State of Maharashtra. ... Respondent. Mr. V.V. Purwant for the Applicant Mrs. S.D. Shinde, APP for the State. Mr. K.S. Patil for the Intervener. CORAM : A.M. THIPSAY, J. DATED : 15th JUNE 2011. P.C. :- Heard Mr. Purwant, learned Advocate for the Applicants, Mrs. Shinde, learned APP for the State and Mr. Patil, learned Advocate for the Intervener. 2. I have gone through the averments in the complaint where the thrust is on the aspect that though a certain land belonging to Haleco Pharmaceuticals Pvt. Ltd. was agreed to be sold to Kiran M. Jain and Vinod Kumar Solanki, the Applicants, who are the Directors of the said Haleco Pharmaceutical Pvt. Ltd., later on, without the consent of the other Directors, sold the same to M/s. A.J. Associates. 2 ABA 504.11.sxw 3. In the view that I am taking, I refrain from discussing the rival contentions in details. What needs to be observed is, that according to the Applicants, the amount received from M/s. A.J. Associates was credited in the accounts of the Haleco Pharmaceuticals Pvt. Ltd. Undoubtedly, the original Complainant has contended that most of the amount received in the account of Haleco Pharmaceuticals Pvt. Ltd. was siphoned by the Applicants, without any authority of the said Company. 4. It seems that the matter would need further investigation. Say of the other Directions would be relevant, which can be ascertained in the course of investigation. It also appears that such investigation can be carried out without requiring the Applicants to be detained in custody. 5. In the peculiar facts and circumstances of the case, I think it proper to grant anticipatory bail to the Applicants but only for a limited duration, so that the matter can be reviewed, after some further investigation in the matter is carried out, and the rival contentions can be more satisfactorily examined. 6. Keeping this in mind, the Application is disposed of as follows :- (i) In the event of their arrest in AB C.R. No.4/11, registered with Band Garden Police Station, the 3 ABA 504.11.sxw Applicants be released on bail in the sum of Rs. 1,00,000/- each, with one surety, in like amount, on the condition that the Applicants shall report to the Band Garden Police Station every day and make themselves available for investigation/interrogation, for a period of 10 days, from today and thereafter, as and when required by the Investigating Officer. (ii) This order shall remain in force, only till the filing of the charge-sheet, and a period of two weeks thereafter; or for a period of three months, from today, whichever is earlier. (A.M. THIPSAY,J.)