IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPELLATE JURISDICTION CRIMINAL APPELLATE JURISDICTION CRI.APPLICATION NO.4083 OF 2008 CRI.APPLICATION NO.4083 OF 2008 CRI.APPLICATION NO.4083 OF 2008 Ajitkumar Bhimrao Bhosale, .. Applicant Vs The State of Maharashtra .. Respondent. Shri Shirish Gupte, senior counsel, i/b Mr M.S.Mohite, for the applicant. Mr.Y.S.Shinde, APP, for the respondent. CORAM : D.B.BHOSALE,J. CORAM : D.B.BHOSALE,J. CORAM : D.B.BHOSALE,J. DATE : 19/11/2008 DATE : 19/11/2008 DATE : 19/11/2008 PC: PC: PC: 1. Heard Mr. Shirish Gupte, learned Senior Counsel, for the applicant and Mr Shinde, learned APP, for the State. 2. The applicant is seeking bail in C.R.No.II-84/2008 of Waghle Estate police station. The said crime has been registered against the applicant for having allegedly committed an offence punishable under sections 420,406,201, 464,465, 467,468, 471 and 120-B of IPC. It is the case of the prosecution that the applicant was Secretary of Accolade Co-operative Housing Society and during his tenure as a Secretary, certain flats were sold and the sale proceeds were deposited in the account of M/s Accolade Developers, the firm of the daughter of the applicant and the wife of one Iyer, who was a Treasurer of the said society. It is further alleged that the applicant and other accused sold three flats at a lesser price and thereby caused loss to the society and lastly it is alleged that two flats have been sold by the daughter of the applicant illegally in the open market. Mr Gupte, learned senior counsel for the applicant, after taking me through the entire record, submitted that insofar as the first allegation is concerned, the entire amount, that was deposited in the account of the Accolade developers, has already been transferred in the account of the housing society on 29.6.2006 itself. In respect of the allegation of selling flats at a lesser price, he submitted that those flats were sold at the prevailing market rate and merely because they did not fetch a particular price does not mean that they deliberately sold those flats at a lesser price and caused loss to the society. Lastly, he submitted that the applicant’s daughter has not sold the two flats bearing nos 1102 and 1103 in the market and those flats are even today in possession of the society. Having regard to overall facts and circumstances of the case, and the nature of allegations against the applicant and considering that the applicant is in custody since last about two months, I am inclined to release him on bail. It is pertinent to note that all other accused have already been granted bail by the Sessions Court. In the circumstances, this application is allowed. 3. The applicant to be released on bail in the sum of Rs. one lac with one or two sureties to make up the said amount, subject to condition that the applicant shall report to the concerned police station every alternate Saturday between 6 and 7 pm for a period of six months and thereafter as and when called. . While passing this order I shall not be understood to have expressed any opinion on merits of the case and the trial Court shall deal with the case without being influenced by the observations made in this order. (D.B.BHOSALE, J.) (D.B.BHOSALE, J.) (D.B.BHOSALE, J.)