VIJAY SHRIDHAR CHIPLUNKAR Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) The applicants accused are involved in a case of criminal breach of trust, cheating and impersonation, for the offences punishable under Ss. 409, 417, 418, 420 read with Sec. 34 of the Indian Penal Code, and under Sec. 3 of Maharashtra Protection of Investors Deposit Act, registered under C.R. No.113 of 2011, with Roha Police Station, District: Raigad.

(2.) All the accused alongwith co-accused are the Chairman, Vice Chairman, Directors and Branch Officers, Accountants etc of one Roha Ashtami Co-operative Urban Bank Ltd. District Raigad. One Shashikant Shripati Bhandare, an Auditor of the bank, has lodged complaint against all the accused persons. It is the case of the prosecution that bank has received audit report for the year 2005-06 from M/s S.S. Deo & Co. As per audit report, it is found that the applicant alongwith others have flouted rules and regulations laid down by the Reserve Bank of India and disbursed loans of different types by way of cash credit to the tune of Rs.7,56,77,055.00. It is also stated in the audit report that the aforesaid amounts were disbursed to in all 438 different borrowers. These loans were disbursed in the year 2005. After the receipt of audit report, Mumbai, steps were taken. F.I.R. was lodged on 14/12/2011 against all the accused persons with Roha Police Station. During the course of investigation, it was found that the applicants accused and others have cheated the bank and committed offence of breach of trust of the bank and also responsible for the misappropriation of bank funds to the tune of Rs.41,11,82,543.00.

(3.) Interim protection of anticipatory bail was granted on 16/12/2011 which continued till 23/1/2014 when the learned Sessions Judge rejected their anticipatory bail loan application.