Facts & background in brief:

The First Information Report No. 30/08 of Achalpur Police Station is lodged by the Administrator of Achalpur Co-operative Urban Bank Ltd., Achalpur, who is also Assistant Registrar of Co-operative Societies, Achalpur, on 17th March, 2008. This FIR is lodged on the basis of the letters dated 14th and 22nd January, 2008, received from the Reserve Bank of India and the Report of Inspection/Enquiry conducted under Section 89-A of the Maharashtra Co-operative Societies Act by the Asstt. Registrar, Co-operative Societies, Achalpur.

2. Few amongst persons, who have been named as accused in Crime No.30/08, have filed these applications for anticipatory bail, after rejection of same prayer by Sessions Court.

3. The accused are broadly classified as follows :[a] Directors of Achalpur Urban Cooperative Bank Limited, [b] Borrowers who are related to the officers of the Bank.

[c] Borrowers, who are Family Members or relatives of the Directors or Employees of the Bank, [d] Borrowers, who are not in categories [a] and [c] above.

4. Loans leading to filing of FIR are broadly classified as follows :[a] Loans granted in the names of Directors and employees of the