Allowed

Vivek Ramchandra @ Achyut Thombre v. the State of Maharashtra

Bombay HC20 Apr 2011BA/319/2011

Case brief

AI extract

What is this about?

In a criminal bail application, the High Court directed the release of an applicant arrested for cheating banks on furnishing a bond conditioned upon repaying loan installments to the banks or the trial court.

What did the court decide?

Applicant released on bail on furnishing a bond of Rs. 50,000/- with sureties, conditioned upon repaying loan installments to banks or depositing them in court.

Vivek Ramchandra @ Achyut Thombre Vs the State of Maharashtra — Cheque Dishonour | Bombay HC (2011)

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BA 319-2011

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Anand

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION

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CRIMINAL BAIL APPLICATION NO.319 OF 2011

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Vivek Ramchandra alias Achyut
Thombare

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..Applicant

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 V/s.

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The State of Maharashtra..Respondent

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Mr.A.B.Tajane, Advocate, for the Applicant
Mrs.Geeta P. Mulekar, APP, for the Respondent
- State

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CORAM:R.C.CHAVAN, J.
DATE:20TH APRIL, 2011

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P.C.

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.This is an application for bail by a

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person, who is arrested in connection with

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C.R.No.99 of 2010 for the offence punishable

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under Sections 406, 409, 420, 467, 468, 471

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read with Section 34 of the Indian Penal Code

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registered with Vishram Baug Police Station,

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District Pune and who has cheated several

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Banks by taking loans from those Banks and

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failing to pay the Banks as per the repayment

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schedule. The applicant is in jail for the
last one year. The learned Counsel for the

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2 BA 319-2011

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applicant has filed on record statement of the
applicant on solemn affirmation made before

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the jailor of the prison where the applicant
is lodged stating that the applicant would
repay the loans as per the installments which
he was supposed to repay to all the concerned
Banks, aggregating to Rs.1,20,000/- per month.
The learned APP states that the applicant has

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duped several Banks to the tune of Rs.
66,84,000/- and if he deposits a sum of Rs.
1,20,000/- per month it will not be enough
even to cover the interest. All the same,

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some recovery would be definitely better than
nothing. Since the applicant has already been
in jail for about one year and investigation
is complete and charge sheet has filed and the
trial is not likely to commence before the
JMFC soon, applicant's being in custody for
the purpose of trial may not be necessary.

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Applicant be released on bail on his
furnishing P.R.Bond of Rs.50,000/- with one or
more solvent sureties in the aggregate sum of

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3 BA 319-2011

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Rs.50,000/- on the condition that the

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applicant shall repay the loans in

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installments as indicated in his statement on
solemn affirmation attested by the jailor on

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30th March, 2011. The repayment shall start

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one month after the applicant's release from

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prison. The Order shall stand automatically
re-voked, if repayment schedule is not adhered

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to. If the Banks concerned refuse to accept

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repayment, the applicant would deposit the
installments in the Trial Court which amounts
the learned Magistrate shall invest in
interest earning deposit in a Nationalized

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Bank and deal with it at the end of the trial
as per the result of the trial.

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2.Criminal Bail Application is disposed

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of.

Vivek Ramchandra @ Achyut Thombre v. the State of Maharashtra

Case brief

What is this about?

What did the court decide?

Vivek Ramchandra @ Achyut Thombre v. the State of Maharashtra

Case brief

What is this about?

What did the court decide?

What the court decided

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