appln811of2010.sxw 1 vks IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO. 811 OF 2010 Shri.Habib Ismile Khan .. Applicant -versus The State of Maharashtra .. Respondent. Mr. Sachin Dhakephalkar, for the Applicant. Smt. Y. S. Shinde, APP for the State. CORAM: R.S.MOHITE, J. DATED: 22nd April, 2010 P.C. 1. This is an application for grant of regular bail. The applicant is shown as accused in CR No.30 of 2008, registered at RAK Marg Police Station, for the alleged offences under section 409, 465, 467, 468, 471, 320 r/w 34 of IPC . The applicant is a partner of Shama Developers Pvt. Ltd. 2. The case of the prosecution that after constructing building the firm created purchase agreements in favour of the alleged purchasers of flats, but in fact there were no such purchasers. They persuaded the bank and obtained home loan totalling Rs.77,00,000/-. The record indicates that the complaint is made by an officer of Central Bank of India, who subsequently appln811of2010.sxw 2 found said flats were occupied by other purchasers. It is now found that the present applicant who was shown as purchaser of flat was in fact himself a Director. The record further indicates in so far as this applicant is concerned, he has withdrawn an amount of Rs. 29,7l,711/- by cheques addressed to himself from the firm after loan was received. In such circumstances prima facie offence under section 467 of IPC, which is punishable for life imprisonment, can be said to be made out out, since the document purported to create a right in favour of purchasers and on the strength of of which the alleged purchasers had taken a loan from the bank. In this view of the matter, this is not fit case for grant of bail. Therefore, the application is rejected. However, applicant will be at liberty to apply for bail if he is agreeable to deposit an amount of Rs.29,71,717/- with the Investigating Officer without prejudice to his rights and contentions but subject to the orders to be passed on merit under section 452 at the conclusion of the trial. (R.S. MOHITE, J.)