HITESH MULJIBHAI RAGHAVANI Vs. STATE OF GUJARAT

JUDGEMENT

(1.) Rule. Learned Additional Public Prosecutor waives service of notice of rule on behalf of the respondent-State.

(2.) Learned advocate for the applicant submits that the alleged transaction is a commercial transaction and it is a civil dispute and merely for recovery of the amount, the FIR is filed. The applicant has taken a loan of Rs.40,57,000/- and out of the said amount, the applicant has already paid Rs.14,00,000/-. It is further submitted that the applicant is ready and willing to deposit amount of Rs.3,00,000/- within ten days and the rest of the outstanding amount shall be paid after consulting with the Finance Company in due reasonable time, without prejudice to the rights and contentions of the applicant. 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.