1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO. 2408 OF 2009 Vilas Rasiklal Shah Madjukar Bapurao Bhalerao ........ Applicants versus The State of Maharashtra ........Respondent. Mr. R.D. Soni i/b. M/s. Ram & Co. adv. for the Applicants Mrs. P.P. Shinde APP. for the Respondent/State. CORAM: A. P DESHPANDE, J. DATED : 20th August, 2009. P. C.: 1. Apprehending arrest in C.R. No. 152/06 and/or 47/06 registered with Panchavati Police Station, Nashik for offence under sections 403, 406, 408, 409, 418, 420, 468, 471, 120-B of IPC, the applicant has moved the present application under section 438 of Cr.P.C. for anticipatory bail. According to the prosecution, the applicant was at the relevant time, Vice Chairman of City Cooperative Credit and Capital Ltd. Nashik which is a Urban Credit Society registered under the Maharashtra Cooperative Societies Act 1960 and is a non banking financial institution which does not fall within the purview of Banking Regulation Act. The society cannot carry on any banking business. A cheque of EPS Trading Company was drawn on 6-1-03 as per the audit report 2 and was presented on 20-12-2003 to Shriram Sahakari Bank. The said Credit and Capital Society had drawn cheques of Rs. 5 lacs and Rs. 10,000/- bearing nos. 89581 and 89582 and encashed the same on 20-12-2002. However the original cheque of Rs. 5 lacs and Rs. 10,000/- was never sent for encashment by Shriram Bank to Bank of India, i.e. The bank which represents EPS Trading Company . From the record of Shriran Bank it was transpired in the audit that the original cheque is neither encashed nor presented for encashment, inspite of which the amount was paid by Shriram Bank to City Credit and Capital Society Ltd. 2. According to the learned counsel for the applicant though the applicant had no concern with the realization of the said cheque, with a view to show his bonafide, the applicant had already deposited the said amounts on 2-5-2008. The learned APP appearing for the State does not dispute the fact that the applicant has already deposited a sum of Rs. 5,10,000/- with the liquidator appointed on Shriram Bank. It is thus submitted that there is no amount due and payable by the applicant to Shriram Bank. However, as the applicant is apprehending arrest he has moved the present application. The Superintendent of Police has received a communication from the Chief Excecutive Officer of Shriram bank dated 18th August 2009 a copy of which is placed on record, which reveals that besides a sum of Rs. 5,10,000/- some amount of interest is also due and payable by the applicant and the said amount roughly works out in the sum of Rs. 1,87,210/-. In all fairness the learned counsel for the applicant makes a 3 statement that without prejudice to its right and contentions, the applicant would deposit the said amount of Rs. 1,87,210/- with the liquidator of Shriram bank within a period of four weeks from today. The statement is accepted. In view of the fact that nothing is due and payable by the applicant to the bank, I deem it appropriate to allow the present application. In the result, I direct that in the event of arrest of the applicant in C.R. No. 152/06 and/or 47/06 registered with Panchavati Police Station, Nashik for offence under sections 403, 406, 408, 409, 418, 420, 468, 471, 120-B of IPC, the applicant shall be released on bail on executing personal bond in the sum of Rs. 25,000/- with one or two sureties in the like amount. The applicant shall abide by the conditions stipulated under section 438(2) of Cr.P.C. and shall attend the police station as and when so required. The application is disposed of. (A. P. Deshpande, J.)