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 CRI.APPLICATION NO.2443 OF 2008 CRI.APPLICATION NO.2443 OF 2008 CRI.APPLICATION NO.2443 OF 2008 Sanjay Bhagwant Shinde, .. Applicant Vs The State of Maharashtra, .. Respondent Mr A.P.Mundargi, Sr.Advocate with Mr S.V.Marwadi, for the applicant. Mrs A.T.Jhaveri, APP, for the respondent. CORAM : D.B.BHOSALE,J. CORAM : D.B.BHOSALE,J. CORAM : D.B.BHOSALE,J. DATE : 11/11/2008 DATE : 11/11/2008 DATE : 11/11/2008 PC: PC: PC: 1. Heard Mr.Mundargi, learned senior counsel for the applicant and Mr.Jhaveri, learned APP, for the State. 2. The applicant has prayed for bail in C.R.No.I-260/2007 of Sarkarwada police station, which is now being investigated by E.O.W, Crime Branch, Thane. The said crime has been registered against the applicant and three others for having allegedly committed an offence punishable under sections 420,467,468, 120-B read with 34 of IPC and under sections 45-S,45-IA,58-B(5a) of R.B.I.Act. It appears that four crimes have been registered against the accused persons having similar facts and circumstances and all the four cases are clubbed and are being investigated by the E.O.W, Crime Branch, Thane. 3. Accused no.1-Premchand Kamble, is a Proprietor of M/s Unique Motors, who had floated a scheme inviting the investors to invest their money for a period of 5 or 3 years and earn attractive returns from the said investment. Different investors, after having realised that they have been duped by all the accused persons, lodged complaints at Thane, Nashik, Pune and Mumbai. At all the four places different crimes came to be registered against the accused persons bearing C.R.No.411/2007 of Naupada Police Station, Thane; C.R.No.260/2007 of Sakarwada Police Station, Nashik; C.R.No.606/2007 of Chatushrungi Police Station, District-Pune; and C.R.No.93/2007 of Malad Police Station, Mumbai. Insofar as the applicant is concerned, he is shown accused in two cases, that is, the crimes registered at Thane and Nashik. The applicant is not shown accused in the cases registered at Pune and Mumbai. Investors in Thane case are 5000 and the amount involved is about 55 crores, out of which Rs.15 crores and odd, has been recovered by the police so far. In Nashik case, investors are 225 and the amount involved is 1.77 crores and the amount recovered so far is about 20.39 lacs. The allegation against the applicant is that he was a consultant and used to advise investors to invest in the scheme floated by accused no.1 Premchand Kamble. The applicant has already been released on bail in Thane case. The prosecution has not taken any steps for cancellation of the said bail. Insofar as accused no.1 Premchand Kamble is concerned, he has been released on bail in C.R.No.93/2007 of Malad Police Station, Mumbai. It is against this backdrop, Mr Mundargi, learned senior counsel for the applicant, submitted that no useful purpose would be served by keeping the applicant behind bar and he may be released on bail. It appears that the father of the applicant has already filed an affidavit dated 18.10.2008 making reference to 4-5 properties of the family standing in his name and in the name of the applicant, his wife and the wife of the applicant. Mr Mundargi, on instructions, submitted that all the four members of the family are prepared to file affidavits in the form of an undertaking in this court stating that they shall not dispose of those properties during pendency of these proceedings or the proceedings, if any, initiated or to be initiated to recover the monies involved and that they would accept the liability,if any, that would be fixed on the applicant in those proceedings. It is against this backdrop, I am inclined to enlarge the applicant on bail. Hence, the following order. . The applicant to be released on bail in the sum of Rs.Two lacs with two local sureties of the like amount subject to condition that the applicant, his father, his mother and wife shall file an affidavit in the form of an undertaking in this Court within a period of two weeks from the date of his release stating that the properties mentioned in the affidavit dated 18.10.2008 filed by the father, shall not be disposed of and no third party rights would be created therein till the disposal of all the proceedings either criminal or civil, as submitted by the learned counsel for the applicant. If the undertakings, as aforestated, are not filed within the stipulated time, the applicant shall surrender before the Jail Authority within a week therefrom, failing which the order of bail shall stand cancelled and in that event the police will be entitled to arrest him. . The application is disposed of. (D.B.BHOSALE, J.) (D.B.BHOSALE, J.) (D.B.BHOSALE, J.)