DAMODAR NARAYAN MANKAR Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) THE present applicant had taken loan from one Shriram Sahakari Cooperative Bank Limited which is a cooperative bank. The applicant had borrowed an amount of Rs.23 lacs by way of loan from the bank for the purpose of his business. A complaint came to be lodged against 198 persons including 18 directors, 149 borrowers and number of employees of the bank. The accusation is that the directors and employees of the bank had disbursed the loans in breach of the guidelines and the bylaws and the borrowers have taken advantage of the said illegalities committed. CR No.152/06 for the offences punishable under sections 403, 406, 408, 409, 428, 420, 468, 471, 120B read with section 34 of IPC came to be registered. Perusal of the order sheet dated 18.7.09 reveals that without furnishing necessary documents and securities the applicant had obtained loan of Rs.23 lacs. It is also recorded that the learned counsel for the applicant has submitted that after registration of the crime applicant has repaid the entire amount of loan. At that time learned APP had taken time to seek instructions with a view to ascertain as to whether the applicant has deposited the entire loan amount which he had borrowed together with interest in the bank.

(2.) TODAY on instructions from IO learned APP has made categorical statement that the applicant has deposited the entire loan amount together with interest. The statement is accepted. My attention is invited to various orders passed by learned Single Judges of this Court dealing with applications under the aforesaid crime. One of such order being an order passed in Criminal Application No.272/09 dated 26.3.09. The orders reveal that an endeavor was made to secure the amount. Cases wherein the amount had been secured the applicants have been granted the relief. On instructions from the IO learned APP submits that in view of deposit of the entire amount the applicant's custodial interrogation is not necessary. In that view of the matter anticipatory bail application needs to be allowed. In the event of arrest of the applicant in CR No.152/06 for the offences punishable under sections 403, 406, 408, 409, 428, 420, 468, 471, 120B read with section 34 of IPC the applicant shall be released on executing personal bond in the sum of Rs.25,000/- with one or more sureties in the like amount. Applicant shall abide by the conditions laid down in section 438(2) of Criminal Procedure Code. Application stands disposed of.