VAIBHAV KASHINATH DHAWALE Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) THIS is an application for bail by applicant, who is arrested in connection with C.R.No.16 of 2010 for the offence punishable under Sections 420, 467, 468, 471 read with Section 34 of the Indian Penal Code registered with Lashkar Police Station, Pune. He had taken a loan of Rs.8,30,000/- for purchase of a flat. He repaid loan instalments till July, 2007 amounting to Rs.2,40,000/- and thereafter, defaulted. According to the learned Counsel for the applicant, in fact the applicant was defrauded by builder because he did not get the flat. In that case, it was necessary for him to bring it to the notice of the Bank promptly. In any case, the learned Counsel for the applicant states that applicant had absolutely no intention to cheat the Bank. He has already paid an amount of Rs.2,40,000/- towards the loan taken by him and would deposit a further sum of Rs.2,50,000/- to show his bona fide within a period of two weeks of his release.

(2.) ' In view of this, since investigation is complete and charge sheet has already been filed, applicant's being in custody pending the trial may not be necessary, applicant be released on bail on his furnishing P.R.Bond of Rs.25,000/- with one or more solvent sureties in the like amount of Rs.25,000/- on the condition that he shall deposit a sum of Rs.2,50,000/- as offered by him within a period of two weeks from his release with the trial Court, failing which order shall stand automatically revoked and police would be at liberty to re-arrest him. If the amount is deposited, the learned trial Judge shall invest the said amount in interest earning deposit in a Nationalized Bank and deal with it at the end of the trial as per the result of the trial. Applicant shall attend Lashkar Police Station, Pune on the 1st Sunday of the month between 10:00 a.m. to 1:00 p.m. till the trial is over.