1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO.2697 OF 2009 Rajkumar Tukaram Ubale ....Applicant Vs. The State of Maharashtra ....Respondent WITH CRIMINAL APPLICATION NO.2698 OF 2009 Vijaykumar C. Bagal ...Applicant Vs. The State of Maharashtra ...Respondent WITH CRIMINAL APPLICATION NO. 2699 OF 2009 Adinath R. More ...Applicant Vs. The State of Maharashtra ...Respondent WITH CRIMINAL APPLICATION NO.2700 OF 2009 Shivaji Mahadeo Bhosale and Ors. ...Applicants Vs. The State of Maharashtra ...Respondent ----- Shri Sandeep S. Salunkhe for Applicant Mrs. P.P. Shinde- APP for State ---- 1 WITH CRIMINAL APPLICATION NO.2683 OF 2009 Sandipan L. Bagal ...Applicant Vs. The State of Maharashtra ...Respondent ----- Shri Shekhar A. Ingawale for Applicant Mrs. P.P. Shinde- APP for State ---- CORAM: V.M. KANADE J. DATED: 3RD DECEMBER, 2009 P.C. 1. Heard the learned Counsel appearing on behalf of the Applicants and the learned APP for the State. 2. The Applicants are the directors of the credit society. The auditor, who audited the account of the said credit society has given a report in which he has stated that the persons who deposited the amount in this credit society for a fixed period, were not repaid the said amount on the maturity of the said fixed deposit. He has stated that the loans have been given by the directors of the credit society without following the guidelines and the bye-laws of the credit societies and, as a result, the society was not in a position to recover the said amount which was given as a loan to the friends and relatives of the certain directors. 1 3. The learned Counsel appearing on behalf of the Applicants submitted that so far as present Applicants, are concerned, no loans were given to any of their relatives. He further submitted that almost 90% of the loans were disbursed during the period from 2000 to 2005 and during this period they were not the directors of the said credit society. He, therefore, submitted that they were not responsible for disbursement of the said loans which have not been recovered by the bank at the time when the complaint was filed. The learned Counsel for the Applicants further submitted that the Applicants have given an undertaking to this Court that in the event the amount which have been disbursed by the erstwhile directors is not recovered, the fixed deposit of the Applicants may be seized by the bank. It is further submitted that now auditor has given a further statement, in which he has stated that an amount of Rs.26,00,000/- has already been recovered by the bank. 4. In view of the aforesaid position, in my view, the custodial interrogation of the Applicants is not necessary, particularly, because the Applicants had not given loans to any of their friends and relatives and that during the period when the loans which have been disbursed, they were not the directors of the said credit society. Undertaking given by the 1 Applicants in their affidavits is accepted. The credit society, therefore, is secured. Many of the directors who had given loans to their relatives, have been released on bail by the Sessions Court. The Applicants, under these circumstances, are entitled for grant of anticipatory bail. 5. The Applicants, in the event of their arrest in connection with C.R. Nos.85 of 2009 registered with Kurduwadi Police Station for the offence punishable under sections 420, 406 r/w. 34 of the Indian Penal Code, be released on bail in a sum of Rs.5,000/- each with one or two sureties each in the like amount. They shall report to the concerned police station as and when called. 6. Applications are disposed of. (V.M. KANADE J.)