AB 229/2011 BEFORE HON’BLE MR JUSTICE A.C.UPADHYAY By this application under section 438 Cr.P.C, the petitioner Golak Bihari Panda has prayed for releasing him on pre arrest bail in connection with Latasil PS Case No.184/2010 under sections 410/468/420/406 IPC. Heard Mr PC Goswami, learned counsel for the petitioner and Mr BS Sinha, learned Additional Public Prosecutor for the State of Assam. The relevant case diary has been produced by Mr Sinha and I have perused the same. On the basis of the FIR filed the aforesaid case was registered and the investigation was launched. The facts stated in the FIR reveal that one Dinesh Mittal and the wife of the complainant were the Directors in a company named as Seven Sisters Plastics Pvt. Ltd. Umtru Power Road, Ri-Bhoi District, Byrnihat, M eghalaya. The aforesaid company obtained a loan from the North Eastern Developme nt Finance Corporation (hereafter referred to as NEDFI for an amount of Rs. 3.5 crores. When the NEDFI asked for collateral security in addition to the land mortgaged by the complainant handed over his ten LIC policies along with the ph otocopies of his original documents including his PAN Card, Passport, photograph s etc. to Dinesh Mittal for doing the needful. Mr Mittal, however, instead of ha nding over all the documents to NEDFI went with the LIC policies and documents to UCO Bank, Silpukhuri Branch, Guwahati without the knowledge of the complain ant and opened a Saving Bank Account purportedly in the name of the complainant in collusion with the then Branch Manager Mr GV Panda of the UCO bank,Silpukhur i Branch by forging the signature of the complainant and obtained a loan and dis appeared with the cash without the knowledge of the complainant. After Sri Mitt al started defaulting in repayment of the loan obtained in the name of the comp lainant and under forge signature of his, the present UCO Bank Credit Manager, S ilpukhuri Branch called the complainant for repayment. Mr Dinesh Mittal took adv antage of the fact that the complainant was busy in General Elections to the Meg halaya Legislative Assembly which were held in Febraury,2008. The complainant an nexed the photocopies of various cheques forged by Mr Dinesh Mittal. According t o the complaint, this act of Mr Dinesh Mittal in collusion with the Bank Manager , UCO Bank, Mr GB Panda, is one of forgery, impersonation, cheating, criminal br each of trust, which is punishable under the provisions of sections 120A,403, 4 05, 406, 409, 415, 416, 418, 419 ,420 and 468 IPC. The petitioner is a Manager of UCO Bank. On careful perusal of the materials in the case diary and looking into t he progress of investigation, I am of the considered opinion that there is no i ncriminating materials warranting custodial interrogation of the accused petitio ner in connection with the case. The investigation of the case would not be adversely affected if the accused petitioner is granted the privilege of pre arrest bail. Accordingly, it is provided that in the event of arrest of the pet itioner abovenamed in connection with the aforesaid case, he shall be released o n bail of Rs.10,000/- with one local surety of the like amount to the satisfacti on of the arresting authority on condition that, he shall appear before the I.O. as and when directed to do so and shall co-operate with the investigation of th e case. The application is disposed of.