1 1 1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPELLATE JURISDICTION CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO.4055 OF 2008 Ramesh V.Khasnis .. Applicant. Vs. The State of Maharashtra .. Respondent. Mr.A.P.Mundargi, senior advocate with Mr.S.R.Mithare for the applicant. Mrs.P.P.Shinde A.P.P. for the State. CORAM : D.B.BHOSALE, J. CORAM : D.B.BHOSALE, J. CORAM : D.B.BHOSALE, J. DATED : 17TH NOVEMBER, 2008. DATED : 17TH NOVEMBER, 2008. DATED : 17TH NOVEMBER, 2008. P.C.: . Heard learned senior counsel for the applicant and learned A.P.P. for the State. 2. The applicant is seeking bail in C.R.No.96 of 2008 of Jaysingpur police station, Dist.Kolhapur. The said crime has been registered against the applicant and thirteen others for having allegedly committed an offence punishable under sections 406, 420 read with section 34 of IPC. The applicant, at the relevant time, was a Member of the Board of Directors of Trimurti Co-operative Credit Society. It is alleged that between the period from 1.4.2005 to 31.3.2006 all the Directors, by committing illegalities and irregularities in the Banking operations, caused loss to the said Society to the tune of rupees four crores and fifty six lakhs. Insofar as the applicant is concerned, Mr.Mundargi, learned senior counsel submits that neither the applicant nor any of his relatives has taken loan from the society and in view thereof he 2 2 2 submitted that the applicant stands on a better footing than the co-accused - Dhananjay Khade, who has been granted temporary bail by this court vide order dated 22.10.2008. It appears from the order dated 22.10.2008 that the brother of the applicant - Dhananjay Khade had not paid the entire amount of loan and, therefore, the applicant was given time to settle the loan account and, hence he was granted temporary bail. Mr.Mundargi, learned senior counsel has placed on record a certificate issued by the society stating that there is no outstanding amount against the applicant or his relatives of any loan account. Keeping that in view and considering overall facts and circumstances of the case I am inclined to enlarge the applicant on bail. Hence the following order: . The applicant be released on bail in the sum of Rs.50,000/- with one or two sureties of the like amount subject to condition that the applicant shall report to the concerned police station on every alternate Saturday between 10.00 a.m. and 11.00 a.m. till conclusion of the trial. . While passing this order I shall not be understood to have expressed any opinion on merits of the case and the trial Court shall deal with the case without being influenced by the observations made in this order. 3 3 3 (D.B.Bhosale, J.) (D.B.Bhosale, J.) (D.B.Bhosale, J.)