1 BA 1453, 1459 vks IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL BAIL APPLICATION NO.1453 OF 2011 Dr. Yashwant Pande .. Applicant -versus The State of Maharashtra .. Respondent. WITH CRIMINAL BAIL APPLICATION NO.1459 OF 2011 Suresh Sadashiv Chavan .. Applicant -versus The State of Maharashtra .. Respondent. Mr. A.P. Mundargi, Senior Counsel with Ms. Anuprita Nalavade i/b Mr. Ravindra Lokhande for the applicants Mrs. M. R. Tidke, APP for the Respondent State. CORAM: R.C. CHAVAN, J. DATED: 12th October, 2011 P.C. 1. The applicants in these two applications are alleged to have participated in defrauding the complainant Kunal Sambhaji Pawar, for various sums assuring him that he would get some loan at concessional rate of interest from the companies in Chennai. It is indeed unfortunate that the complainant falling prey for this bait, went on paying various sums to the accused persons from time to time, expecting to get flt loan at concessional rate of interest. 2 BA 1453, 1459 2. The applicant Suresh Sadashiv Chavan is alleged to have received Rs.1,75,000/- alongwith the co-accused Nilgikar in January, 2004. Further allegations in the complaint do not show Suresh Chavan received any further amount. Nilgikar was surprisingly admitted to anticipatory bail, by order dated 16th September, 2011, passed by the learned Additional Sessions Judge, Kolhapur and the State has not chosen to question that order. Therefore, since Nilgikar and Chavan are in the same category, if Nilgikar has been bailed out, there is no reason for the applicant Suresh chavan to remain in jail. Therefore, the applicant Suresh Sadashiv Chavan, arrested in connection with C. R. No.5 of 2011, registered at Laxmipuri Police Station, Kolhapur, be released on bail on his furnishing P.R. Bond in the sum of Rs.15,000/- with one or more solvent sureties in the sum aggregating to Rs.15,000/- on the condition that he shall make himself available before the Investigating Officer as and when required and shall not leave the country without prior permission of the trial Court. 3. As far as applicant Dr. Yeshwnt Pande is concerned, affidavit filed by Geetaram L. Shewale, attached to Economic Offences Wing, Kolhapur, shows that the complainant deposited a sum of Rs.6,94,500/- in applicant Yeshwant Pande's account on different dates. Learned counsel for the applicant states that without prejudice to applicant's defence, the applicant to show his bonafides, would deposit the 3 BA 1453, 1459 aforesaid sum of Rs.6,94,500/- with the trial Court, within a period of four weeks. In view of this applicant Yeshwant Pandey’s being in custody for further investigation may not be necessary. The applicant is already in custody since 1st August, 2011. In view of this, application is allowed. The applicant Dr. Yeshwant Pandey, arrested in connection with C.R. No. 5 of 2011, registered at Laxmipuri Police Station, Kolhapur, be released on bail on his furnishing P. R. bond in sum of Rs.15,000/- with one or more solvent sureties in the sum aggregating to Rs.15,000/- on the condition that the applicant shall deposit with the trial Court a sum of Rs. 6,94,500/- by 9th November, 2011 without fail without seeking any extension of time. If the amount is not so deposited, bail granted shall stand cancelled. If the amount is deposited the learned trial Court would invest the same in the interest earning fixed deposit scheme, in State Bank of India, and shall deal with the said amount at the end of trial as per result of trial. (R. C. CHAVAN, J.)