Bail under Section 439 CrPC granted after prolonged custody and prior deposit in a depositors protection case.

Bail was granted under Section 439 CrPC in a prosecution involving alleged offences under the Penal Code and the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999. The Bombay High Court considered that the applicant had remained in custody for about three years and had already deposited Rs. 75,00,000 pursuant to an earlier court order. On those circumstances, the Court found release on bail appropriate and directed release on furnishing the prescribed personal recognizance bond and sureties.

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Issues: Whether the applicant was entitled to be released on bail in the prosecution arising out of the alleged offences under the Penal Code and the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.

Analysis: The application was under Section 439 of the Code of Criminal Procedure, 1973. The applicant had been in jail for about three years and had also deposited Rs. 75,00,000/- pursuant to the earlier order of the Court. Considering these circumstances, the Court found it appropriate to grant bail.

Conclusion: The applicant was entitled to bail and was directed to be released on furnishing the prescribed personal recognizance bond and sureties.

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