SHRIPAD VASANTRAO RETHAREKAR Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) THIS is an application for anticipatory bail by a person who apprehends arrest in an offence which is likely to be registered pursuant to investigation ordered by a learned Magistrate under Section 156(3) of Cr.P.C. on the complaint of one Jayant Digambar Palkar. The complaint itself shows that shares of HDFC Bank which were allegedly misappropriated by the applicant were sold by the applicant to one Ratanlal Jain for Rs. 48,000/-. The learned counsel for the applicant states that the applicant has not misappropriated any amount and that the shares belong to the applicant himself. However, to show his bona fides the applicant would deposit with the learned trial Magistrate a sum of Rs. 48,000/- within a period of three weeks. This obviates the need for custodial interrogation of the applicant, though the learned APP has a very strong objection. The application is allowed. In the event of the applicant's arrest in connection with the investigation being conducted pursuant to the Order dated 10-11-2010, passed by the learned Judicial Magistrate, First Class, Karad in Criminal Misc. Application No.332 of 2010, the applicant be released on bail on his furnishing P.R. Bond in the sum of Rs.15,000/- with one or more solvent sureties in the sum aggregating to Rs. 15,000/- on the condition that the applicant shall report at the police station concerned initially on 27-1-2012 at 11:00 a.m. for interrogation and thereafter as and when required by the I.O.

(2.) THE applicant shall deposit with the learned trial Magistrate a sum of Rs.48,000/- within a period of three weeks, which amount the learned Magistrate shall invest in an interest earning fixed deposit in State Bank of India and shall deal with the same at the end of the trial as per the result of the case. If the amount is not deposited within the time prescribed, this order shall automatically stand revoked, without further reference to the Court.

(3.) THE application accordingly stands disposed of.