1. This is a criminal application presented by the State of Maharashtra at the instance of Inspector of Police, C.B.I., A.C.B. CDW, Bombay. The respondent to this application is Mr. R. Mahadevan Iyer, who is the original accused in a set of prosecutions pending before the learned Additional Chief Metropolitan Magistrate, 3rd Court, Esplanade, Bombay. These prosecutions are numbered as Criminal Cases Nos. 630/ P of 1979 to Criminal Case No. 636/ P of 1979 and Criminal Cases Nos. 9/P, 10/P and 11 /P of 1982.

2. The incidents giving rise to these prosecutions pertained to the year 1976-77. After the investigations were carried out, the charge-sheets were filed in the years 1979 and 1982 and the proceedings have been pending before the Court since that point of time. One of the cases has been filed before the Court of Session at Greater Bombay, which I shall deal with separately. It is alleged that the respondent-accused was doing business as a clearing agent and that he committed certain irregularities in connection with some documents, the total value of the same amounting to approximately Rs. 75,000/-. In view of the fact that there were 10 such parties involved, the invest