The petitioner has already been granted ad interim anticipatory bail. The charge against him is that he gave two loans amounting to Rs.4,00,000 to one Anwar Bukhtiar and another.
2. Petitioner's case is that the transactions were done in a legal way and were duly secured. This happened in 1976. Thereafter audit took place twice but no fault was found.
3. The police officer submits that the petitioner has not been joining the investigation since the registration of the case. Co-accused Anwar Bukhtiar who was first admitted to bail but it was cancelled later on, is absconding.
4. The interim bail allowed to the petitioner is confirmed. He shall join the investigation as and when called upon by the police. In case he does not co-operate the prosecution will be entitled to move for cancellation of the bail.
5. Since the amount involved is huge one, the petitioner is directed to furnish new bail bond in the sum of Rs.1,00,000 (one lakh) with one surety in the like amount to the satisfaction of D.R. (Judl.) of this Court.