1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY, NAGPUR BENCH, NAGPUR Criminal Application No.3660 of 2008 (Mrs. Nirmala Wd/o Ashokrao Wadibhasme and another v. State of Maharashtra, through P.S.O., P.S. Dhantoli, Nagpur) -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-- Office Notes, Memoranda of Coram, appearances, Court's orders or directions : Court's or Judge's orders and Registrar's orders. -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- Shri Manoj Kariya, Advocate for Applicants. CORAM : R.C. Chavan, J. DATE : 16th October, 2008 The applicants are described in course of arguments by the learned counsel for the applicants as sleeping partners, but they seem to be sleeping directors of a Private Limited Company. They apprehend arrest for offence punishable under Section 420 read with Section 34 of the Penal Code, since the Company of which they are directors, had purchased the property from M/s. Laxmi Land Developers, which in turn had mortgaged the same to secure the loan from a Co-operative Bank. One Manoj Naidu is the director of M/s. Om Ingot Industries Pvt. Ltd., and his father is the Proprietor of M/s. Laxmi Land Developers. The learned counsel for the applicants states that the applicants are ready to deposit Rs.10 lacs with the Bank, which has been defrauded, to show their bona fides. In view of this, it is not necessary to go into the merits of the matter. Hence, the following order : 2 In the event of arrest of the applicants, they be released on bail on each of them furnishing a PR bond of Rs.25,000/- and a solvent surety in the like amount. Both the applicants shall deposit a sum of Rs.10 lacs each by 24-10-2008 with the Registry of this Court. The Registrary shall then transmit the said amount to Shikshak Sahakari Bank Ltd., which in turn shall invest in a fixed deposit with the State Bank of India, Kingsway Branch, Nagpur, having the maximum rate of interest. The applicants shall report to the Investigating Officer on 20-10-2008 at 10 a.m. and thereafter as and when required by the Investigating Officer. Hamdast allowed. JUDGE Lanjewar