' RIAZ HUSSAIN, J.--- Through this application, the petitioner seeks bail in a case F.I.R. No,29/94, dated 10-4-1994 under sections 420, 406, 380, 109, 468 and 471 of the P.P.C. Registered against him at Police Station F.IA., Multan.
2. Brief facts are that Messrs Musa Pak Textile Mills is a private limited company having place of business at Mauza Fatwalpur, Old Shujabad Road, Multan and the petitioner is the Managing Director of the said company. It applied for sanction of LMM loan and A.D.B.P. Loan on 12-12-1992 and amount of Rs,3.300 (M) was sanctioned against the LMM loan account and an amount of Rs,2.887(M) against A.D.B.P. Account. On 26-5-1992, a pay order in the sum of Rs,12,80,500 was issued by the bank branch in favour of Messrs Muzammal Brothers for supply of machinery to be installed in Messrs Musa ?Ak Textiles Mills, Multan.
3. The precise allegation against the petitioner is that on 26-5-1992, he an amount of Rs,12,80,500, which was credited in the account of Messrs Muzammal Brothers by forging cheques.
4. Learned counsel for the petitioner submits that the petitioner was lawfully authorized by Messrs Muzammal Brothers to receive the aforesaid amount, therefore, he did not commit any offence in drawing the said amount. He further submits that as per prosecution story, the beneficial owners are Messrs Muzammal Brothers but no criminal proceedings have been initiated on their behalf. He further submits that the case against the petitioner does not fall within the prohibitory clause of section 497, Cr.P.C.
5. Learned counsel for the State has opposed the bail application vehemently, submitting that notwithstanding the fact that Messrs Muzammal Brothers had intimated the bank branch not to make any payment out of their account because of theft of the signed cheques, the payment was made to the petitioner.
6. We have given anxious consideration to the arguments advanced by learned counsel for the parties and perused the record. There is no cavil to it that the petitioner was lawfully authorized to draw the amount of Rs,12,80,500 as these cheques were duly signed by Messrs Muzammal Brothers.
Whether these cheques were stolen by the petitioner or someone else is a question which could be determined at the time of trial when some evidence will be produced. Prima facie there are no reasonable grounds to connect the petitioner with the guilt and the matter needs further inquiry.
In view of the above, the petitioner shall be released on bail subject to his furnishing bail bond in the sum of Rs,2,00,000 (Rupees two lacs only) with one surety in the like amount to satisfaction of the learned Sessions Judge, Multan.