1 ba 158 of 2011 vks IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL BAIL APPLICATION NO.158 OF 2011 Hitesh B Kareliya .. Applicant. -versus The State of Maharashtra .. Respondent. WITH CRIMINAL APPLICATION NO. 206 OF 2011 IN CRIMINAL BAIL APPLICATION NO.158 OF 2011 Union of India .. Applicant versus The State of Maharashtra and anr .. Respondents. Mr. Anjali Patil, for the applicant Mrs. P. P. Bhosale, APP for the Respondent State. Mr. K.D. Shukla, i/b M/s K. D. Shukla and Co. for the intervenor SICOM Bank. CORAM: R.C. CHAVAN, J. DATED: 16h September, 2011 P.C. 1. This is an application for bail which has been adjourned from time to time. Applicant had intimated to Debts Recovery Tribunal that he is willing to put his properties to auction to liquidate dues of banks and other financial institutions whom he is alleged to have cheated by mortgaging the same properties again and again. The 2 ba 158 of 2011 applicant had stated that the value of the properties is more than the dues of the banks and financial institutions. The applicant has filed application for putting the properties to auction before the Debt Recovery Tribunal. Learned counsel for the Union of India, states that such applications have been filed. Learned counsel for SICOM has stated that recovery certificate has been issued in favour of SICOM and dues of SICOM may be secured. Learned counsel for the applicant has no objection. In view of this, the applicant's being in jail pending trial may not be necessary since investigation is complete and chargesheet has been filed. In view of this application is allowed. The applicant arrested in connection with C.R. No.22 of 2008, registered at Economic Offences Wing, Unit No.I, be released on bail on his furnishing P.R. Bond in the sum of Rs.1,00,000/-with one or more solvent sureties in the sum aggregating to Rs.1,00,000/-, on filing an undertaking on oath before being actually bailed out to co-operate with the Debts Recovery Tribunal, SARFAESI Authorities and other creditors of financial institutions in liquidating the dues of the bank by putting the properties of the applicant to auction. if Applicant commits any default in co-operating with the aforesaid authorities, his bail shall be liable to be cancelled. The applicant shall also report to the Investigating Officer on first Monday of every month between 10.00 a.m. to 1.00 p.m. in the next six months and thereafter as and when required. 3 ba 158 of 2011 2. Both Criminal Application No.158 of 2011 and Criminal Application No.206 of 2011 are hereby disposed of. (R. C. CHAVAN, J.)