LAWS(BOM)-2022-4-4

PRABHAKAR SHAMA SHETTY Vs. STATE OF MAHARASHTRA

Decided On April 01, 2022
Prabhakar Shama Shetty Appellant
V/S
STATE OF MAHARASHTRA Respondents

JUDGEMENT

(1.) This is an application for pre-arrest bail on behalf of the applicant in connection with C.R. No. 166 of 2019 registered with Vanrai Police Station, Goregaon (W), Mumbai, for the offences punishable under Ss. 420, 406 and 34 of the Indian Penal Code registered on 25/7/2019.

(2.) On 28/3/2022 the following order was passed :-

(3.) Accordingly, an undertaking is filed on behalf of the applicant dtd. 30/3/2022 which is taken on record and marked as Exhibit 'X' for identification. In view of the undertaking, it is not necessary to refer to the facts of the case in detail. Suffice it to observe that the applicant admits his liability to pay a sum of Rs.4.00 Crores to the respondent no.2. It is the case of the applicant that on account of fire that broke out at the factory premises that the applicant ran into financial troubles. The insurance claims are pending and part of the insurance claim is released. The major liabilities are of the respondent no.3-Union Bank of India. Learned counsel for the respondent no.3 says that the Union Bank of India has first charge over the property and dues to be recovered.