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2005 DIGILAW 1238 (SC)

Babubhai Ratilal Patel v. State of Gujarat

2005-08-05

B.N.SRIKRISHNA, P.VENKATARAMA REDDI

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ORDER : P. Venkatarama Reddi, J. Leave granted. 2. The appellant is accused of the offences under Sections 406, 420 and 467 and 120-B on the allegation that he conspired in the siphoning off of the funds of Sabarmati Cooperative Bank Ltd. The High Court has refused bail by the impugned order. The appellant has been in jail for about 22 months. The appellant has stated in para 3 of the affidavit filed in the High Court that he will deposit Rs. 15 lakhs immediately and thereafter, within six or eight months, an amount of Rs. 35 lakhs will be deposited by him by sale of properties, etc. The charge-sheets have already been filed after investigation. 3. In the circumstances, we consider it just and proper to direct the appellant to be released on interim bail for a period of six months on the condition of his furnishing personal bond for Rs. 50,000 and two sureties for the like sum to the satisfaction of the Additional Sessions Judge, Ahmedabad city. The application for bail shall be taken up by the High Court in the month of February 2006 and the High Court will consider whether to continue the bail, subject to further developments in the matter. 4. In view of the above order, the judgment of the High Court stands set aside and the bail application shall stand revived so that it may be considered afresh during the month of February 2006, as indicated above. 5. Accordingly, the appeal is disposed of.