1 ABA-780-11.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION Mhi ANTICIPATORY BAIL APPLICATION NO. 780 OF 2011 Ajay Mataprashad Seth ... Applicant vs. The State of Maharashtra ... Respondent Mr. K.H.Giri, Advocate, for the applicant. Mrs. G.P.Mulekar, APP for the respondent - State. CORAM: J.H.BHATIA,J. DATE : 15th September, 2011. P.C. 1. Heard the learned Counsel for the parties. Perused the various documents produced by the applicant as well as the report from the Investigating Officer. 2. The applicant seeks anticipatory bail in Crime No.477/2011 registered with Santacruz Police Station for the offence under Sections 406,. 409, 420 read with Sec. 34 of IPC. The offence was registered on the report lodged by one Mahendra Pandit. According to him, one Radheshyam Gupta had established Dhanlaxmi Co-op.Credit Society Ltd. and had collected huge amounts from investors and on maturity, the Society had defaulted in making repayments. 2 ABA-780-11.sxw According to him, Radheshyam Gupta, who is founder of the said Society, and other directors have committed the offence. The complainant Mahendra Pandit himself has invested amount of Rs.7,50,000/- with the said Society. As per the evidence collected during investigation, amount of more than Rs. 1 crore was invested by some of the investors. According to prosecution, as per the information collected during investigation, amount of more than Rs.34 crore may be due to the different investors. Radheyshyam Gupta was arrested and he is presently in jail. According to the prosecution, the present applicant is one of the directors and Chief Executive Officer and Manager of the said Society as per the statements of said Radheyshyam Gupta before the police. 3. The documents produced by the applicant reveal that Radheyshyam Gupta was carrying on business in different names like Laxmi Auto globe Pvt.Ltd., Laxmi Cars Pvt.Ltd., Laxmi Auto Plaza Pvt.Ltd. and the applicant was employed by said Radheyshyam in his Laxmi Auto Plaza in 1999. Thereafter, he was shifted to Laxmi Auto Globe Pvt.Ltd. and then to Laxmi Cars Pvt.Ltd. Due to his experience, he was finally designated as Chief Executive Officer of Laxmi Cars Pvt.Ltd. in the year 2005. He was holding this post till he resigned on 16.12.2010. After that the applicant started his own business by taking loan from Oriental Bank of Commerce. According to the applicant, he is being falsely 3 ABA-780-11.sxw implicated by said Radheshyam after he left the job. 4. The FIR in the present case was lodged on 24.8.2011,while the applicant had resigned from the post of CEO, Laxmi Cars Pvt.Ltd. on 15.12.2010. There is a letter from the District Deputy Registrar, Co-operative Societies that for the period from 2008 to 2013, there were 13 directors. However, out of them, six had resigned and four were removed during the year 2009-2010. The applicant was also removed with others. Even the statement of Radheshyam before the police does not reveal nor there is any independent document to show that the applicant had received any amount either as loan or otherwise from the said Dhanlaxmi Co-operative Credit Society Ltd. Even the statement of Radheshyam only shows that applicant was aware about certain transactions with the persons to whom the loans were advanced by the Society. It appears that the applicant was removed from the post of Director during 2009-2010 and from 16.12.2010, he resigned from the service of Radheshyam. In absence of any documentary evidence to show that the applicant had taken any financial benefit from the said Society, in my opinion, merely because he might be aware about certain transactions of the Society with certain borrowers as per the statement of Radheshyam, custodial interrogation of the applicant is not necessary. 4 ABA-780-11.sxw 5. Therefore, in the event of arrest in Crime No.477/11 registered with Santacruz Police Station, the applicant be released on his executing P.R. of Rs.15,000/- with a surety in the like amount with condition that he shall make himself available to police as and when required for the purpose of interrogation. He shall also produce all the necessary documents which the police may require. 6. Learned APP, on instructions from I.O., who is present before the Court, makes a request that the applicant be made available to police tomorrow i.e. 16.9.2011 for interrogation. Therefore, the applicant shall attend the Santacruz Police Station on 16.9.2011 at 11 a.m. and shall also attend the police station as and when he may be required. (J.H.BHATIA,J.)