1. Rule. Rule made returnable forthwith and heard finally by consent of the parties.

2. These are applications for cancellation of anticipatory bail orders rendered by learned IInd Additional Sessions Judge, Jalgaon.

3. The respondents were Directors of Shri Swami Samarth Urban Cooperative Credit Society Limited, Savda. An Audit Inspection was carried out for the year 2005-2006. The Auditor noticed a large number of irregularities, illegalities and financial misdeeds. It was found that a large number of loans were sanctioned by the Board of Directors of the Credit Society in lots on 27th September, 2004, 28th September, 2004, 4th January, 2005, 7th January, 2005 and 8th January, 2005. The examination of record showed that 87 loan cases were sanctioned without verification of credentials of the borrowers without obtaining proper securities and a large number of borrowers were not in existence. Some of the loans were sanctioned to relatives of Chairman Rajendra Wani and also to members of the Board of Directors. There was a designed plan, prima facie, to defraud the depositors and members of the Cooperative Credit Society. The Credit Cooperative Society was put to lo