1 APPLN-5606.10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE CRIMINAL APPLICATION NO.5606 OF 2010 Sebastian s/o Michael Pereira & Anr. .... Applicants Vs. The State of Maharashtra .... Respondent Shri A.M. Saraogi for the Applicants. Ms G.P. Mulekar, APP, for the State. Shri L.T. Satelkar for the Official Liquidator. Shri B.A. Aloor for the original complainant. CORAM: R.C. CHAVAN, J. DATED: APRIL 28, 2011 P.C: This is an application for bail in an offence of cheating registered with Bund Garden Police Station, Pune. The properties of the applicants have already been taken over by the Official Liquidator who is in the process of putting the properties to sale in Company Petition No.123 of 2010. The price which the Official Liquidator expects in distress sale would be about Rs.5,21,00,000/-. The amount to be recovered for this crime is Rs. 5,75,00,000/-. The learned counsel for the applicants states that the applicants have no objection to the properties being put to sale 2 APPLN-5606.10 and the sale process being dealt with by the Official Liquidator as per the orders in the Company Petition. The learned counsel for the first informant has also no objection to the applicants being bailed out. If the applicants are bailed out, the possibility of the applicants fetching higher price for the properties to be put to sale would be there. The learned APP, however, has a strong objection since there is some other crime in which the applicants are alleged to have duped others to the tune of Rs.10,00,00,000/-. That cannot be a ground for denying bail in this case. The applicants are in jail since September, 2010. In view of this, the applicants be released on bail in C.R. No.126 of 2010 on their furnishing P.R. Bond in the sum of Rs.1,00,000/- each with one or more solvent sureties in the sum aggregating to Rs. 1,00,000/- per applicant on the condition that they shall attend the police station concerned on the first Sunday of every month in between 10:00 a.m. and 1:00 p.m. till the trial is over. The application accordingly stands disposed of. (R.C. CHAVAN, J.)