MANISHBHAI BHUPATRAI MEHTA Vs. STATE OF GUJARAT

JUDGEMENT

(1.) A.J. Desai, J 1.I have heard learned advocates appearing for the respective parties.

(2.) By way of the present application under Section 438 of the Code of Criminal Procedure, 1973, the applicant accused has prayed to release him on anticipatory bail in case of his arrest in connection with the FIR registered at C.R. No. I - 108 of 2019 with Krishnanagar Police Station, Ahmedabad for the offences punishable under Sections 406, 420 and 506 (1) of the Indian Penal Code.

(3.) Mr. N.L. Ramani, learned advocate for the applicant, under instructions, states that subject to the rights and contentions of the applicant, the applicant is ready and willing to pay an amount of Rs. 7.39 Lacs within a period of two weeks from today by Demand Draft in the name of Sahajanand Industries which is a proprietary firm of Mehul Prajapati. He would further submit that as far as the transactions took place between the applicant and another Company, namely, Edge Petro Products which is a proprietary firm of one Amarsinh Mangilalji Pawar who has executed Power of Attorney in favour of the present complainant, the applicant is ready and willing to deposit an amount of Rs. 21.50 Lacs in the account of Edge Petro Products through RTGS and for making the said payment, some reasonable time may be granted. He would further submit that the nature of allegations are such for which custodial interrogation at this stage is not necessary. Besides, the applicant is available during the course of investigation and will not flee from justice. In view of the above, the applicant may be granted anticipatory bail.