1 apl550.11.sxw IN THE HIGH COURT OF JUDICATURE OF BOMBAY CRIMINAL APPELLATE JURISDICTION. Criminal Application No. 550 of 2011 Chetan Rajindernath Dogra ....Applicant v/s. Central Bureau of Investigation & anr. ....Respondents Mr. Subhash Zha i/b. M/s. Law Global for the applicant. Mr. D.N. Salvi for respondent no.1. Mr. A.S. Shitole-APP for the State. CORAM: B.R. GAVAI, J. 4th July, 2011 PC: Rule. Rule made returnable forthwith. Heard finally by consent of the parties. 2. By way of present petition, the petitioner prays for order thereby quashing the directions issued by respondent no.3 for freezing the bank accounts and DP accounts of the petitioner. The respondent no.1-CBI is investigating one case being RC No. 38(A)/2010-CBI-ACB-MUM wherein it is alleged that certain fraud was committed by one company. It is the allegation of the prosecution that an amount of Rs. 4 crores has been diverted to the petitioner from the said fraud and that petitioner has utilised the same amount for purchase of shares. 3. Shri Jha, the learned Counsel appearing on behalf of petitioner submits that petitioner is not at all concerned with the said fraud. He submits that the petitioner is a reputed businessman dealing in shares and has been 2 apl550.11.sxw unnecessarily involved in the matter. 4. Shri Salvi, the learned Counsel appearing on behalf of respondent-CBI vehemently opposes the petition. He submits that petitioner himself has stated in the statement recorded by the CBI that he has received an amount of Rs. 4 crores and had agreed to return the amount. 5. I find that at this stage, it will not be appropriate to go into the merits of the matter inasmuch as any observations in that regard would effect the case of either the prosecution or the defence. I find that the interest of prosecution can be safeguarded by directing defreezing the petitioner’s bank accounts and the DP accounts and the petitioner being directed to furnish the solvent surety in the sum of Rs. 4 crores to the satisfaction of the respondent authority. 6. Rule is, therefore, made absolute by directing the respondent to defreeze the bank account so also the DP account of the petitioner, on the petitioner furnishing one or more sureties in the sum of Rs. 4 crores to the satisfaction of the respondent authority. 7. On the petitioner furnishing the necessary surety, the respondent shall issue necessary orders within a period of 48 hours. (B.R. GAVAI, J)