JUDGMENT - R. JAHAGIRDIR, J.:---The petitioner hereinafter will be referred to as the accused No. 1 and the 1st respondent will be referred to as the complainant. Accused Nos. 1, 2 and 3 are being prosecuted in the Court of the learned Judicial Magistrate, First Class, Bhiwandi in Criminal Case No. 434 of 1981 on the complaint filed by the complainant for the offences punishable under section 406 and 420 r/w section 34 of the Indian Penal Code. The case of the complainant as disclosed in the complaint is as follows:

In 1974, the complainant was working as an Agent of the Bombay Mercantile Co-operative Bank of Bhiwandi Branch and as such was looking after the work of disbursing the loans and advances to the members of the said bank. Accused Nos. 1, 2 and 3 are members of the Bank. Accused No. 1 applied for the overdraft facilities to the extent of Rs. 10,000/- against the hypothecation of his 20 buffaloes and offered accused Nos. 2 and 3 as his sureties. On the hypothecation of 20 buffaloes, the overdraft facilities to the extent of Rs. 10,000/- was ordered with monthly instalment of Rs. 835/- within a period of 12 months. As many as four documents were executed in favour of the ban

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