JUDGMENT

Rohit B. Deo, J. - Heard Mr. Mahesh Rai, the learned counsel for the applicant and Mr. V.A. Thakre, the learned APP for nonapplicant/State.

2. The applicant, who is arraigned as accused 1 in Crime 427/2020, registered with Police Station, Ballarshah, Dist Chandrapur, for offences punishable under sections 406, 409, 420, 465, 468, 471, 201, 109 read with section 34 of India Penal Code ("IPC") and sections 3 and 4 of Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act,1999 ("MPID Act"), is assailing the order dated 14.10.2020, rendered by the Additional Sessions Judge, Chandrapur, in Special Case (MPID) 138/2020, whereby the application preferred by the applicant, seeking bail under the provisions of section 167(2) of Criminal Procedure Code, 1973 ("Code") is rejected.

3. Before adverting to the submissions canvassed by the learned counsel for the applicant Mr. Mahesh Rai and the learned APP Mr. V.A. Thakre, it would be apposite to note the relevant facts, which are either admitted or are irrefutable.

3.1 The applicant was arrested on 13.7.2020 and was produced before the jurisdictional Court on 14.7.2020 and was remanded to police custody, and at