1 Cri.Appln.No.338/2011 1. FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD CRIMINAL APPLICATION NO.338/2011 (Rajendra s/o Motilal Pande Vs. The State of Maharashtra) ----------------------------------------------------------------------------------------------------------- Office notes, office Memoranda of Coram,appearances, Court’s orders Court’s or Judge’s orders. or directions and Registrar’s orders ----------------------------------------------------------------------------------------------------------- Mr.SG Chapalgaonkar Adv. for applicant; Mr.VH Dighe, APP for State. *** CORAM : K.U.CHANDIWAL ,J. DATE : 9 th February, 2011. ... 1) Heard. 2) The accused/applicant is a borrower of Tapi Credit Cooperative Society Chopada. He has availed loan from its branch at Navi Peth, Jalgaon. 3) The predominant allegation against the applicant/accused is, there was earlier charge on the property for the loan availed and by virtue of letter dated 21.12.2005, issued by the Manger of the Credit Cooperative Society, the property was released from the charge of the Bank. The Counsel submits that the arrangement of subsequent loan is dated 30th March, 2007 for Rs.30,00,000/- and the earlier transaction is merged in the subsequent financial transaction. The counsel also informs, a recovery certificate is issued, showing the liability of Rs. 27,19,135/-. 4) The learned APP submits that in terms of Rule 11 of the Credit Cooperative Society, family member, like mother, could not be a guarantor in the arrangement of loan. 5) Even if the learned APP is correct, it was the bank, which is a credit cooperative society, was basically required to take care while disbursing the loan to ensure to avoid such risk to be 2 Cri.Appln.No.338/2011 covered at the instance of any family members, for that purpose, at this stage, the applicant/accused as a borrower, need not be branded as a mischief-monger. 6) During the course of submissions, learned Counsel submits, the accused/applicant is ready to give security in respect of the present liability of his mother and wife to secure bank s dues. ’ 7) Considering the overall survey of the matter, it is not surfacing that the present accused/applicant was a member in the concert with the mis-appropriation and several illegalities committed at the credit cooperative society. At the most, care can be taken by directing the accused/applicant to deposit some amount with the Credit Cooperative society. Hence, order. 8) In the event of arrest of the applicant/accused in Crime No. 1/2011, registered at Zilla Peth Police Station, Jalgaon, the applicant/accused be released on his furnishing PR bond and surety in the sum of Rs.25,000/- (Rupees twenty five thousand). 9) The accused/applicant, up to 15th March, 2011 shall ensure to create charge of the Bank for an amount of Rs.28,00,000/- on the property of his mother and wife. After creation of such charge, necessary document, indicating its entry, will be furnished to the Bank up to 15th March, 2011; failure to do so, today s concession shall automatically stand terminated. ’ 10) The applicant/accused shall deposit with the credit cooperative society at Visanji branch, an amount of Rs.5,00,000/- (Rupees five lakhs) up to 30th March, 2011; failure to do so, to face the rejection of the application. 11) The applicant/accused shall attend the Investigator between 3.00 p.m. to 5.00 p.m. on every alternate Sunday till 31st May, 2011. 12) Application allowed as above. (K.U.CHANDIWAL) JUDGE bdv/