1 SNS IN THE HIGH COURT OF JUDICATURE AT MUMBAI APPELLATE CRIMINAL JURISDICTION CRIMINAL APPLICATION NO.4988 OF 2010 Vivek Ramchandra @ Achyut Thombre ...Applicant. v. The State ...Respondents. Mr. Ashok B. Tajane , adv. For the Applicant. Mr. S.A.Shaikh, APP For the Respondent/State. CORAM : J.H. BHATIA, J. DATED : JANUARY 18, 2011. P.C. 1 Applicant was arrested in Crime No.96 of 2010 by Vishram Baug police station, Pune for the offences punishable under Sections 420, 467, 468, 471 r/w section 34 of the I.P.C. 2 According to the prosecution, present applicant, who is accused no.1 and six other persons approached Nagar Urban Co- operative Bank Ltd. at Sadashiv Peth, Pune for loan for purchase of Honda Accord and Honda Jazz cars. Each of them was applicant for loan and each of them was guarantor for one or the other. Present applicant had applied for loan of Rs.28,91,000/- for three cars. Similarly other accused also applied for loans. It was represented by the accused persons that the cars were to be purchased from Akwest Auto, the authorised 2 dealers. Loans were actually advanced. Later on, it was revealed that said Akwest Auto was not authroised dealer and it was established by the present applicant himself and the major amount of the loan advanced were credited to the current account of the Akwest Auto belonging to the present applicant. Loans were advanced in March, 2010 and report was lodged with police on 14.4.2010. After that in all 7 cars were attached and seized by the bank and thereafter, police have seized the said vehicles in the criminal case also. 3 It appears that bank has also filed disputes before the Co- operative Court against each of the borrowers for recovery of the amount against the present applicant. Three of the disputes bearing nos.113 of 2010, 114 of 2010 and 117 of 2010 were filed against the present applicant for recovery of the loan amount advanced for each of the cars. The Co-operative Court has restrained the present applicant from disposing off or creating third party interest in the concerned cars as well as house property bearing no.220 admeasuring 1020 sq.ft. situated at Matri Kishor Arcade. The learned counsel for the applicant contends that the loan amount is fully secured in view of the seizure of the cars and the above referred house property which is mortgaged with the bank. To show the bonafides of the applicant, the learned counsel, on 3 instructions, makes a statement that the applicant is willing to deposit an amount of Rs.10,00,000/-, if reasonable time is given to him. 4 The learned APP could not point out as to where from said cars, which are attached and seized had come even if they were not purchased from or through Akwest Auto. It appears that in similar circumstances another accused Ganesh Kale has been granted bail by this Court subject to depositing certain amounts. 5 In view of the above circumstances, applicant be released on his executing PR of Rs.50,000/- with one or more sureties to make up the said sum, with condition that he shall deposit an amount of Rs.5 lac with Nagar Urban Co-operative Bank Ltd., Sadashiv Peth Branch, Pune within 15 days from date of his release and further amount of Rs.5 lacs within one month thereafter with the said bank and he shall not tamper the prosecution evidence. If the amounts are deposited as per this order, the same shall be credited to his loan account. If any of the amounts are not deposited, present application shall be deemed to have been rejected. (J.H. BHATIA,J.)