Partly allowed

Dilip Eknath Bodode and Ors. v. the State of Mah

Bombay HC30 Mar 2011APPLN/926/2011

Case brief

AI extract

What is this about?

In a bail application regarding a credit society FIR, the Judge rejected bail for two applicants involved in irregularities and defalcation but granted bail to a retired director who only proposed loans, imposing a monetary deposit condition.

What did the court decide?

(i) Application of applicant No.1 and No.3 rejected. (ii) Application of applicant No.2 allowed with a bond of Rs.20,000 and a deposit of Rs.1,50,000.

Dilip Eknath Bodode and Ors. Vs the State of Mah — Bail and Remand | Bombay HC (2011)

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Criminal Application No.926/2011

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IN THE HIGH COURT OF JUDICATURE OF BOMBAY BENCH AT AURANGABAD

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CRIMINAL APPLICATION NO.926 OF 2011

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Dilip Eknath Bodode & ors. ... APPLICANTS VERSUS The State of Maharashtra ... RESPONDENT

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Shri G.V. Wani, Advocate for applicants Shri K.M. Suryawanshi, A.P.P. for respondent

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CORAM : K.U. CHANDIWAL, J. DATE : 30th March, 2011

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PER COURT :

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Heard. The accused/ applicant No.1 was Chairman and applicant Nos.2 and 3 were Directors respectively of Dhanwardhini Gramin Bigar Sheti Sahakari Patsanstha Maryadit, Warangaon, Taluka Bhusawal, District Jalgaon (for short the Patsanstha). The applicants are in custody from 10.2.2011, based on F.I.R. lodged by the Auditor before the Police, giving rise to Crime No.14/2011, registered at Varangaon Police Station.

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Learned counsel for the accused/ applicants submit that

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Criminal Application No.926/2011

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the applicants were Directors or may be Chairman, however, it cannot be said that they should have a regular checking on the activities of the credit society. The illegalities which have been pointed is disbursal of unsecured loans. Vehicle loans are not properly disbursed as no charge of the Bank is created in the records. In few of the cases, the loan is diverted from the purpose for which it was advanced. Counsel reiterated, there are certain irregularities in the nature of transaction in not creating charge on the properties of the borrowers or not securing the lands by creating proper mortgage. In few of the cases, the revenue record shows that charge on the property of such borrowers is created. The transactions have taken place before 4 to 5 years, however, during regime of Administrator, the record is misplaced because of which the applicants are unnecessarily harassed.

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As against above submissions, learned A.P.P., with the assistance of the Auditor and the investigator, points that the applicant No.1 as Chairman and applicant No.3 as Director, ensured disbursal of loans to their near and dear relatives. Even loan to the partners in the firm of accused/ applicant No.1 were also showered with illegal benefits. The applicant No.3 Kailash has availed a loan of Rs.3,00,000/- even if he was a Director. He had recommended

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Criminal Application No.926/2011

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loans to unworthy persons and such transaction has become sticky de funct and impotent.

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On perusal of the record, prima facie I find that the accused/ applicant Nos.1 and 3 have created mess in the affairs of credit society by their atrocious and autocratic behaviour. They carried the financial dealings for personal benefits by preparation of the documents not in conformity to rules, illegal disbursement of the loan and defalcation. The net result is, the nibbling by these applicants has crushed the society to ground. Consequently, the depositors are left to ruination. The faith of depositors are put to winds by such approach. Investigation is in progress, I do not see any reason to release the applicant Nos.1 and 3 on bail.

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So far as applicant No.2 is concerned, he was a Director at the material time, apparently did not avail loan for himself. He stays at Pune with his son, enjoying retired life. Mr. Wani submits, the applicant being upset with rumours in the village of defalcation, and police contemplating action, himself approached police on 11.2.2011 to enquire, and he was nabbed.

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Learned A.P.P. points that in 4 or 5 undeserving cases

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Criminal Application No.926/2011

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the applicant Manohar has facilitated disbursal in the years 2005, 2001 and 2007.

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Record illustrate, he has retired in 3.6.2007. The disbursals are of March 2007. Though the above referred few loans have turned non profiting assets, however, the papers do not basically indicate that he desired to dupe the credit society by his untoward and unexpected behaviour. However, he having proposed for the above referred four loans, he will have to deposit certain amount without prejudice to his rights. This is to ensure at least few of the depositors at their odd hours of life shall receive the deposit for their lawful needy purpose. Hence order :

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O R D E R

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(i) Application of accused/ applicant No.1 Dilip Eknath Bodode and applicant No.3 Kailash Baburao Marathe rejected.

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(ii) Application of accused/ applicant No.2 Manohar Eknath Saraf allowed. He be released on furnishing P.R. bond and a surety in the sum of Rs.20,000/- (Rupees twenty thousand). After his release, the applicant No.2 Manohar shall attend the investigator on last Saturday of every month till conclusion of trial and also to

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Criminal Application No.926/2011

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coordinate the investigator whenever so specifically informed. In addition, the applicant No.2 Manohar Eknath Saraf, without prejudice to his rights, shall deposit with the credit cooperative Society a sum of Rs.1,50,000/- (Rupees One Lakh Fifty Thousand) up to 30 days of his release. Such deposit shall earn an interest as per Bank rules, if the role of applicant No.2 Manohar is found to be credulous and he is relieved of charge.

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Application partly allowed as above.

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K.U. CHANDIWAL JUDGE

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fmp/cri926.11

Dilip Eknath Bodode and Ors. v. the State of Mah

Case brief

What is this about?

What did the court decide?

Dilip Eknath Bodode and Ors. v. the State of Mah

Case brief

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