(1.) THIS is an application for grant of anticipatory bail, arising out of following circumstances. A complaint was lodged by one Shri H.P. Vidwans, General Manager (Inspection) and Chief Vigilance Officer, Bank of Maharashtra, Pune, addressed to the Superintendent of Police, Bank Securities and Fraud Cell, Bombay, on 24-10-1997. No specific offence is alleged to be committed therein, but allegations in the complaint can be stated as follows: One Suresh B. Patil, one of the directors of Padma Alloy Castings P.Ltd and Rukadi Metal Castings P.Ltd. floated 6 firms: viz. M/s Mukund Trading Co., M/s Prakash Trading Co., M/s Ajanta Commercial Corporation, M/s Gautam Enterprises, M/s Dyken Associates and M/s Mahavir Engineering Corporation in the names of his friends, relatives and ex-employees in 1988-89. He approached the Bank with intention of raising finances from various branches of the said Bank. This Suresh Patil figured in 7 out of 8 accounts either as a Director or as a Guarantor and in the 8th account of M/s Dyken Associates, Shri Sunil More, another Director of Padma Alloy Castings is a partner. M/s Padma Alloy Castings P. Ltd. and M/s Rukadi Metal Castings P. Ltd. have the same address viz. 24th floor, Matrumandir, 278, Tardeo Road, Mumbai. M/s Dyken Associates & M/s Gautam Enterprises also have the same address viz. 3rd floor, Rustom Building, Veer Nariman Road, Mumbai. In para (iv) of the complaint, it has been stated how petitioner has been connected with these 6 firms, besides he being Director of Padma Alloy Castings Ltd. and Rukadi Metal Castings P.Ltd. Para (2) of the complaint then states how petitioner and others were successful in pursuading bank officials to sanction them credit limits and in particular Bill Discounting limits, though the aforesaid firms had just been established. Most of the Bills were drawn by these firms among themselves. While some bills discounted in the initial period were paid, the bills discounted by Bank's various branches, as per particulars given in the annexure to the complaint remained outstanding. 6 Bills drawn by M/s Padma Alloy Castings P.Ltd. on M/s. Kosajee Marketing P.Ltd amounting to Rs. 18.05 lakhs were never paid. 8 bills of Rs. 26.73 lakhs drawn by M/s Mukund Trading Co., M/s Praksh Trading Co. and M/s Ajanta Commercial Corporation on M/s Padma Alloy Castings P.Ltd were never paid. So also, 7 bills for Rs. 18.47 lakhs were drawn in favour of aforesaid firms. 10 bills for Rs. 12.94 Lakhs of M/s Dyken Associates remained unpaid. Of these 4 Bills were drawn on M/s Kosajee Marketing P.Ltd. and 6 were drawn on M/s AH Electrical Works. The 4 bills for Rs. 11.65 lakhs by Gautam Enterprises were drawn on M/s Ajay Engineering Works, of which brother of the petitioner by name Kiran Patil was the proprietor and he is Director of M/s Rukadi Metal Casting P. Ltd, M/s Kohinoor Enterprises, of which Shri B.K. Kutti, who is a Director of M/s Kosajee Marketing P.Ltd. and the proprietor of M/s Ajanta Commercial Corporation and United Hardware Mills Stores, is Proprietor.
(2.) THE complaint then makes out allegations in para 3 as follows.
(3.) IN the petition, case is made out as follows: