IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR Criminal Application No.3689 of 2008 (Sanjay Prabhakarrao Deshpande v. State of Maharashtra) Office Notes, Memoranda of Coram, appearances, Court's orders or directions Court's or Judge's orders and Registrar's order Shri R.S. Kurekar, Advocate for Applicant. Shri S.S. Doifode, APP for Non-Applicant. Coram : R.C. Chavan, J. Dated : 16th December, 2008 This is an application by the Manager of one of the branches of Samta Co-operative Bank, where the Directors and Managers together led the Bank to suffer a loss of Rs.145 crores. The applicant is in magisterial custody since May 2008. The investigation is over and the chargesheet has already been filed. The applicant, therefore, seeks his enlargement on bail since the investigation is over and he has been chargesheeted for offences punishable under Sections 406, 408, 409, 420, 467, 468 and 471 read with Section 34 of the Penal Code and also for offence under the Information Technology Act. The learned counsel for the applicant states that the applicant has not participated in misappropriation of these amounts or falsification of the accounts. However, to show his bona fides, the applicant is ready to deposit a sum of Rs.3 lacs with the Trial Court to be treated as the property in the case apart from furnishing a list of his assets, which he will not transfer pending the trial. The learned APP has vehemently opposed this application taking me through various clauses of the report of the Special Auditor of the Co-operative Societies, Shri Uike, which does show that the applicant had been a party to sanctioning the loans without taking security and abusing his position as the Manager of the Bank. All the same the question is whether the applicant should languish in prison till his trial comes to an end. The applicant's presence can be secured at the trial by imposing certain condition, as several Directors of the Bank had been admitted to anticipatory bail and which order was left undisturbed by the Apex Court. Some other Directors, who had been arrested, have been bailed out. In view of this, considering the offer of the applicant to deposit a sum of Rs.3 lacs before the Trial Court to be treated as the property in the case and also the fact that since the investigation in the case is over, no useful purpose would be served in detaining the applicant in prison till the trial is over. The applicant be released on his furnishing a PR bond of Rs.1 lac with one or more solvent sureties in the aggregate sum of Rs.1 lac on the condition that he shall deposit a sum of Rs.1.50 lacs by 30-12-2008 and the remaining amount of Rs.1.50 lacs in the Court of Judicial Magistrate First Class, Court No.2, Nagpur. The learned Magistrate shall deposit the said amount in an interest accruing fixed deposit in the State Bank of India and shall deal with the deposit as the property in the case at the end of the trial. The applicant shall furnish to the Investigating Officer and the Court the entire list of his movable and immovable properties and shall file an undertaking that he shall not transfer the property or deal with it in any manner till the trial is over. The applicant shall also attend the office of the Investigating Officer every Wednesday and Sunday at 10 a.m. till the trial is over. Hamdast allowed. Judge. Pdl.