MADHUKAR S CHAVAN Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) THIS is an application filed by the applicant who is the Managing Director praying this court to release him on bail in C.R. No.10 of 1997 registered with C.B. C.I.D., Mumbai. The offence is under section 120(b), read with 403, 406, 409, 477(a) and 420 I.P.C.

(2.) THE counsel appearing for the applicant submitted that the applicant is only an employee of the bank and that he has no voting rights and that he has no role to play in decision making. The applicant has further contended that he has been interrogated both before and when he was in police custody and that he furnished all information and documents available with him and thus he fully cooperated with the investigation and that he no longer need to be detained in custody.

(3.) THE Public Prosecutor would submit that as far as the applicant is concerned he has no power to vote in meeting of board of directors and take part in deciding matters and that he is only an employee of the bank. The Public Prosecutor further mentioned that the investigation is on and that some materials have been gathered and as and when sufficient materials are gathered and found necessary the applicant may have to be interrogated and for which purpose he must make himself available before the investigating agency. The learned Public Prosecutor has not mentioned any reason as to why the applicant should be kept in custody.