Published On : Mon, Jan 6th, 2020

Condition of huge cash security deposit for bail is not proper: High Court

Nagpur: Justice Swapna Joshi of Nagpur Bench of Bombay High Court observed that imposing onerous condition of depositing huge cash security as a condition for bail is not proper.

The observation came as one Bhushan Bhusari was prosecuted by Yavatmal police for the offence under Sections 420, 408, 467, 468, 471, 34 of IPC vide crime Mo. 521/19 registered on the report lodged by complainant namely Suraj Chaudhari

It is alleged by the complainant that, he is the authorized representative of Shriram Citi Union Finance Limited. The accused Bhushan Bhusari is also an employee (Custodian) of Shriram Citi Union Finance Limited along with Rupesh Yadav who is Divisional Officer, Amol Puri (Accountant) and Hemant Bondre (Custodian and Accountant). It is alleged by the complainant that, Shriram Citi Union Finance Limited indulged in the business of extending Gold Loan and Bhushan Bhusari and aforesaid employees are responsible for keeping the gold in safe custody and depositing the amount of loan in the account of company when paid by the customers. It is alleged that Bhushan Bhusari and other employees have committed misappropriation of money to the tune of Rs, 1.16 crore and also replaced the original gold with spurious gold and thereby caused loss to the company.

After his arrest, Bhushan Bhusari had applied for grant of regular bail before learned Sessions Court, Yavatmal. The Sessions Court, Yavatmal was pleased to allow the application preferred by the Bhushan Bhusari vide order dated 9-09-19 but imposed condition to deposit an amount of Rs. 20 lakh with the complainant company. That, Bhushan Bhusari was not a position to comply with such onerous condition of depositing an amount of Rs. 20 lakh and therefore he challenged said condition before High Court submitting that, imposing such a condition amounts to refusal of bail and such a harsh condition cannot be imposed.

After hearing arguments, Justice Swapna Joshi quashed the said condition and instead directed Bhushan Bhusari to deposit Rs. 3 lakh as cash security.

Adv Mir Nagman Ali appeared for Bhushan Bhusari.