1 SNS IN THE HIGH COURT OF JUDICATURE AT MUMBAI APPELLATE CRIMINAL JURISDICTION CRIMINAL APPLICATION NO.10 OF 2011 Kamalakar Vinayak Badbade ...Applicant. v. The State of Maharashtra ...Respondents. Mr. Vidyadhar Koshe , adv. For the Applicant. Smt.R.V.Newton, APP For the Respondent/State. CORAM : J.H. BHATIA, J. DATED : JANUARY 31, 2011. P.C. 1 The applicant seeks to be released on bail in crime no.50 of 2009 registered with Samarth Nagar Police Station, Pune for the offences punishable under Sections 406, 420, 409 r/w Section 34 of the I.P.C. 2 Applicant and his wife were carrying on business in the name of Badbade Investments at Pune. According to the applicant, this business was going on for last about 20 years. On 3.4.2009 one Mahesh Tilekar lodged a report with the Economic Offences Wing, Crime Branch, Pune to the effect that the present applicant and his wife had made large number of people to invest money with them assuring interest at the rate of 15% p.a. which is much more than bank rates. Accordingly, he and his family members had invested an amount of Rs. 2 15 lacs. Upto 1.3.07, applicant had also paid an amount of Rs.1,30,000/- to said Mahesh Tilekar and family members towards the interest on their investments, however, thereafter, he had not made any payment. He had issued cheque of Rs.15 lacs, which was dishonoured. In the F.I.R., he pointed out that to his knowledge, there are 32 other investors, who had invested an amount of Rs.64,65,250/- and on maturity payments were not made. During the investigation, it was revealed that in all 99 persons had invested money to the tune of Rs.1,86,00,000/- with the applicant. Previous application filed by the present applicant was rejected by this Court while his wife was granted bail. The learned counsel for the applicant contended that all the offences are triable by the Magistrate and the Sessions Court had granted temporary bail for one month and during that one month’s period, applicant had settled claims of 23 claimants. He also contends that he had executed conveyance deed of certain immovable property in favour of Mahesh Tilekar and his claim is also settled. According to him, he has two shops and 19 gunthas of land situated within municipal limits of the Municipal Corporation of Pune and if sufficient time is given, he will be in a position to settle most of the claims. According to him, though he was in business for twenty years, he became defaulter because of the economic recession during the 3 year 2008. The learned APP on instructions makes a statement that 23 investors have filed affidavit before the lower Court to the effect that their claims have been settled by the applicant. In view of the facts and circumstances of the case, to secure the payment to the investors should be most important factor. In view of the fact that applicant had settled claims of 23 investors in the period of one month and he wants to settle the claims of remaining investors also, in my opinion, he may be given sometime to show his bonafides. 3 In view of the above, applicant is granted temporary bail for a period of three months from the date of his release on his executing PR of Rs.50,000/- with one or more sureties in the like amount. On expiry of three months, he shall surrender before the trial Court. However, if he succeeds in settling claims of the substantial number of/or all the investors within the said period of three months, he shall be at liberty to move fresh application for permanent bail before this Court. 4 Application stands disposed off. (J.H. BHATIA,J.) 4 SNS IN THE HIGH COURT OF JUDICATURE AT MUMBAI APPELLATE CRIMINAL JURISDICTION CRIMINAL APPLICATION NO.26 OF 2011 IN CRIMINAL APPLICATION NO.3479 OF 2009 Varada Badbade ...Applicant. v. The State of Maharashtra ...Respondents. Mr. Bhakti N. Deshpande , adv. For the Applicant. Smt.R.V.Newton, APP For the Respondent/State. CORAM : J.H. BHATIA, J. DATED : JANUARY 31, 2011. P.C. 1 Heard. The applicant seeks relaxation of the condition of attendance at the police station. As per the order dated 29th September, 2009 applicant was granted bail. I do not see any valid reasons to relax the condition. Therefore, application stands rejected. However, in case claims of all the investors are settled, for which husband of the present applicant is granted temporary bail today only, the applicant may move fresh application for relaxation of the condition. 5 2 Application stands rejected. (J.H.BHATIA, J.)