Order

This petition is filed for clarification of the order passed by this Court on March 7, 2005 by which the petitioners were released on temporary bail. A prayer is made to enlarge the petitioners on bail till further orders and/or pending hearing of Special Leave Petitions filed by them.

2. It is the case of the petitioners that First Information Report dated October 23, 2002 was lodged with DCB Police Station, Surat against several accused including the petitioners herein. It was alleged that certain offences had been committed by the accused and huge amount had been misappropriated. Criminal Miscellaneous Application Nos. 3331 and 5302, both of 2003 were disposed of by the High Court of Gujarat by an order dated October 6, 2004 rejecting the prayer for grant of bail. Against the said order, the petitioners have approached this Court by filing Special Leave Petitions (Criminal) Nos. 5321 and 5492 of 2004. Notice was issued by this Court and by an order dated March 7, 2005, temporary bail was granted. The said order reads as under :—

“Adjourned by six weeks.

After hearing the learned counsel for the parties, it is directed that the petitioner shall be released on temporary bail on furnishing a personal bond in an amount of Rs. 1,00,000/- (Rupees One Lakh only) with two solvent sureties of the like amount to the satisfaction of the Sessions Court, Surat, on the same terms and conditions as are contained in the operative part of the order dated 25.07.2003 passed by the High Court in Crl. Misc. Application Nos. 3331/2003 and 5302/2003.”

3. It is stated by the petitioners that they were enlarged on tempo­rary bail in pursuance of the order passed by this Court. It was further stated that the Special Leave Petitions were to come up for hearing on October 7, 2005, but at the request of the respondents, the hearing was pre-poned to August 5, 2005. Since the order of this Court was to release the petitioners on temporary bail and that period was to be over, they have filed the present petition on April 18, 2005. On May 13, 2005, this Hon’ble Court issued notice. The learned counsel for the State waived service of notice and sought time for having instructions which was granted by the Court. No interim order, however, was passed in favour of the petitioners. Hence, the petitioners sur­rendered on April 21, 2005 and at present, they are in jail.

4. We have heard Shri KTS Tulsi, Senior counsel for the petitioners and Ms. Vibha Datta Makhija for the respondents.

5. The learned counsel for the petitioners submitted that the peti­tioners are willing to pay the amount and sincere and honest attempts/efforts have been made by them. It is also stated that in Criminal Miscellaneous Application Nos. 3331 of 2003 and 5302 of 2003, the petitioners were enlarged on temporary bail at one stage on cer­tain conditions by the High Court. Those applications were, however, finally rejected. The counsel submitted that the petitioners started negotiations with the respondents and submitted proposal for payment of the amount. It was also submitted that the petitioners were ready to re-pay the loan of Rs. 50.40 crores as mentioned in the proposal. Moreover, Special Leave Petitions would come up for hearing in near future. They are in jail since long and no useful purpose would be served by keeping them behind the bar, particularly when they have shown their bona fide and have expressed their willingness to pay the amount to the respondents. If they will be enlarged on bail, no preju­dice will be caused to the respondents inasmuch as even in past when they were on bail, they had complied with terms and conditions imposed on them. Moreover, they will be able to make necessary arrangements for payment of the amount which according to the respondents is due and payable. It was, therefore, submitted that an appropriate order may be passed releasing the petitioners on bail till further orders and/or till pending Special Leave Petitions.

6. The learned counsel for the