ORDER :

S. Abdul Nazeer, J.

1. Leave granted.

2. In these appeals the appellant is aggrieved by the judgment and orders of the High Court of Orissa at Cuttack dated 9th February, 2017 and 6th January, 2017 in MCN No.42 of 2017 and BA No.4542 of 2015, imposing a condition to deposit cash security of Rupees two crores in the shape of fixed deposit STDRs for releasing him on bail.

3. Having heard learned senior counsel appearing for the appellant as well as learned counsel for the respondent, we are of the view that the direction to deposit a sum of Rupees two crores as a condition for releasing him on bail is onerous. Having regard to the facts and circumstances of the case, we direct him to furnish a cash security of Rupees one crore in the shape of fixed deposit STDRs obtained from any nationalized bank. Condition No.2 of the order of the High Court is modified to that extent. In all other respects, the judgment and order of the High Court is sustained.

4. The appeals are disposed of accordingly.