operative Bank. I say that the investigation in respect of misappropriation of the amount is still going on. I say that not a single installment is repaid to the informant bank. The informant bank has been duped, due to which, depositors are unable to get back their deposits. I say that the fraudulent intention existed, since the inception. I further say that it is an economic offence. I say that apart from that there are six criminal antecedents against the present Applicant/Accused. I say that the applicant was the chairman of Nashik District Central Co-operative Bank, the officer whereof is the first informant. I say that the mother of the applicant was the Chairperson of the society, namely Renuka Devi Yantra Mag Audyogik Sahakari Sanstha. I say that the said society raised a total sum of Rs.7,46,00,000/- as a loan from the informant bank in the year 2013. I say that the same properties were mortgaged, although loans were applied for thrice and got sanctioned accordingly. I say that no repayment of the loan amounts was made at any point of time by the society. Certain movable properties of the society came to be sold out, from out of which, the informant bank could be successful in recovering a sum of Rs.1,78,26,922/-. I say that the valuation of the remaining property of the society is shown to be Rs.2,23,00,000/-. I say that thus, even if the remaining property is sold out, the entire recoverable amount would come to the tune of Rs.4,01,26,922/-. I say that there are six crimes registered against the applicant in the year 2023 itself. The said total amount is said to be Rs.31,40,76,000/-, which includes the interest accrued thereon. I say that indisputedly, a loan of Rs.2,80,00,000/- was initially raised by the society, on the basis of mortgage of three immovable properties with the bank, although there was a recommendation for Rs.2,35,00,000/- only, from the bank. Thereafter, additional loans of Rs.2,20,00,000/- and 2,46,00,000/were raised, by mortgaging the same properties. There
