1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO.299 OF 2009 Shri Swanand Babanrao Gurav ..... Applicant. V/s The State of Maharashtra ...... Respondent. ------ Mr. Vilas B. Tapkir for the applicant. Mrs. M.H. Mhatre, APP for the State. ------ CORAM : V.M. KANADE, J. DATE : 21st January, 2009 P.C.: 1. Heard the learned Counsel for the applicant and the learned APP for the State. 2. A complaint has been filed against the present applicant for the offence punishable under sections 406, 420 read with section 34 of the Indian Penal Code. 3. Applicant was a Director of Credit Society. It is alleged that on account of various irregularities committed by the Director and Chairman of the Society, the Society has incurred loss of more than Rs 3 crores. 4. Counsel for the applicant submits that the applicant had resigned from his post of Director in 2005. It is submitted that the auditor has filed a complaint in respect of 2 irregularities committed from 1/4/2005 to 1/4/2008. It is submitted that during this period, applicant was not a Director. 5. In my view this cannot be a ground for accepting the submission made by the Counsel for the applicant. The allegations made against the accused are of a very serious nature and the police have right to investigate into the case. Therefore, this is not a fit case for granting anticipatory bail. Applicant may make an application for regular bail, which, if filed may be considered expeditiously. 6. Application for anticipatory bail is rejected. (V.M. KANADE, J.)