JUDGMENT :

1. Heard Shri Mundargi, learned Senior Advocate for the appellant and Shri Yadav, Learned APP appearing for the State.

2. This is a second application for bail by the applicant-Waryam Singh Kartar Singh in this Court. The earlier application being Bail Application No. 800 of 2022 was rejected on merits by this Court vide order dated 21/02/2023. Having regard to the gravity of the accusations against the applicant, before I proceed to consider this application on the grounds now raised, it is expedient to reproduce the earlier order dated 21/02/2023 for ease of reference and to appreciate the magnitude of this serious economic offence alleged which reads thus:

“1. Heard learned counsel for the applicant, learned APP and learned counsel for the intervener.

2. This is an application for bail in respect of C.R.No. 86 of 2019 dated 30/09/2019 registered with EOW, Banking Unit-II, Mumbai Police Station for the offences punishable under sections 406, 409, 420, 465, 467, 468, 471, 477, 201, 120-B of the Indian Penal Code, 1860 (“IPC”, for short) and under sections 46(I) and 47(A) of the Banking Regulation Act, 1949.

3. The FIR is dated 30/09/2019. The FIR initially was registered wit