Bail should not be granted or conditioned on financial undertakings; it must be assessed strictly on its merits according to law.

ORDER :

J.B. PARDIWALA, J.

1. Leave granted.

2. This appeal arises from the order passed by the High Court of Judicature at Bombay dated 1-7-2025 below interim application No.4524/2024 filed in Criminal Bail Application No.445/2024, by which the interim application filed by the original complainant (Respondent No.2 – herein) came to be allowed and the order of bail passed by the High Court in favour of the appellant – herein dated 1-4-2024 came to be modified.

3. The facts giving rise to this appeal may be summarized as under:-

4. The appellant – herein came to be arrested in connection with Crime No.652 of 2023 dated 27-8-2023 registered with the Satara City Police Station, State of Maharashtra for the offence punishable under Sections 406 , 408, 420, 467, 468, 471, 504, 506 read with 34 respectively of the INDIAN PENAL CODE (for short, “IPC”).

5. The appellant – herein was arrested on 17-8-2023.

6. As the Trial Court declined to release the appellant on regular bail, he went before the High Court and prayed for regular bail by way of the Bail Application No.445/2024. The High Court vide its order dated 1-4-2024 ordered release of the appellant – herein on bail, subject to deposit of Rs.25,00,000/- (Twenty Five Lakh only) in the Trial Court. The entire order passed by the High Court dated 1-4-2024 reads thus:-

“1. Heard learned counsel Shri Kadam appearing for the applicant, learned counsel Shri Gole appearing for the Intervener and learned APP for the State.

2. Learned counsel Shri Gole appearing for the intervener and learned APP vehemently opposed the application.

3. This is an application for bail in respect of the offence punishable under Sections 406 , 408, 420, 467, 468, 471, 504, 506, 34 INDIAN PENAL CODE , 1860 registered on 27/08/2023 vide C.R. No. 1-652 of 2023 with Satara City Police Station. The applicant was arrested on 17/08/2023.

4. It is the allegation that the informant runs Satara Advertising Company and I-Can Training Institute. I-Can Training Institute is having its several branches at several places in Maharashtra. Through the Advertising company, the informant does market work like bulk messages, Whats- app 'messages, creating a website, Facebook marketing, white call marketing etc. The applicant was employed as a business development manager for the purpose of both these institutes. The informant was paying Rs.10,000/- to 30,000/- per month to the applicant. The informant started a residential academy at Talegaon Dabhade. The applicant was looking after this branch as a business development manager. Basically, it is the allegation that an amount of Rs.1,66,00,000/- was siphoned of by the accused from the legitimate funds belonging to the informant.

5. The affidavit-cum-undertaking dated 22/03/2024 has been filed by the applicant voluntarily which is duly affirmed by the applicant which reads thus:

"I, Mr. Gajanan Dattatray Gore, Age: 31 years, Occ: Business, Residence at:154, Block, Somwar Peth, Near Datta Mandir, Satara presently at Central Prison of Kalamb, Dist: Kolhapur, do hereby state on solemn affirmation as under:-

1) I say that, I undertake to deposit 25,00,000/- (Twenty Five Lakhs Only) within 5 months Before this Hon'ble Court for showing my bonafide Before this Hon'ble Court.

2) I say and undertake that, I will not use the name of I Can Institute.

3) I further say and undertake that, I will also not use a logo of I Can Institute for my person as well as business purpose.

Whatever