Rajendra M. Sareen,J. - (1.)RULE . Learned Additional Public Prosecutor waives service of notice of rule on behalf of the respondent-State.
1. By way of the present application under Section 438 of the Code of Criminal Procedure, 1973, the applicant original accused has prayed to release him on anticipatory bail in case of his arrest in connection with the FIR registered as C.R No.11201005200001 of 2020 before C.I.D. Crime Vadodara Zone Police Station, District: Vadodara City for the offences punishable under sections 406, 420 and 120B of the Indian Penal Code and under Section 3 of Gujarat Protection of Interest of Depositors(In Financial Establishments) Act, 2013.

(2.)Learned advocate for the applicant submits that other co-accused are released on anticipatory bail by this Court as well as Coordinate Bench of this Court. The applicant was originally a Director and he resigned from his post in the year 2013. The FIR is filed in the year 2020 and the nature of allegations are such for which custodial interrogation at this stage is not necessary. Besides the applicant will be available during the course of investigation and will not flee away from the justice. Learned advocate for the applicant on instructions also states that the applicant is ready and willing to abide by all the conditions including imposition of condition with regard to power of investigating agency to file an application before the competent Court for his remand. He has further submitted that upon filing such application by the investigating agency, the right of the applicant- accused to oppose such application on merits may be kept open. He submits that considering the nature of allegations, role attributed to the applicant, the applicant may be enlarged on anticipatory bail by imposing suitable conditions.
(3.)Learned Additional Public Prosecutor appearing on behalf of the respondent-State has opposed grant of anticipatory bail looking to the nature and gravity of the offence.