1. By this application, the applicant has prayed to quash the orders dated 16.07.2008 and 23.10.2008 passed by JMFC, Kopargaon granting regular bail in favour of respondents No.3 to 12.

2. Rule. Rule made returnable forthwith. By consent of the learned counsel for the parties, heard finally at the stage of admission.

3. Admittedly, respondent No.3 was the Chairman and respondents No.4 to 10 and 12 were the Members of the Managing Committee of applicant Bank whereas respondent No.11 was the Manager of the said Bank. As certain irregularities and illegalities were noticed in the conduct of the banking business, the Reserve Bank of India had cancelled the license of the applicant bank. Thereafter, District Deputy Registrar, Cooperative Societies, had appointed Liquidator on the applicant bank to look after the affairs of the said bank. One Mr.N.K.Ingole (Government Auditor) had carried out the audit of the said bank for the period 1996 to 2002. During the said audit, certain illegalities, allegedly committed by the respondent-accused, were noticed. It was alleged that misappropriation to the tune of Rs.33 crores was done by the respondent-accused. Accordingly, complaint came t