( 1 ) THE petitioner seeks anticipatory bail in case FIR No. 577/01 registered at P. S. Tilak Marg under Sections 406/420/120-B IPC. The said FIR has been registered on the basis of a complaint filed by Prasar Bharti Broadcasting Corporation of India alleging that Western Cooperative Bank Limited, of which the petitioner is one of the Directors, had issued Bank Guarantees to the tune of Rs. 14 crores 73 lacs in its favour between the period 5. 10. 1999 to 27. 6. 2000. However, when the complainant Prasar Bharti invoked the said Bank guarantees and presented the same to the Bank for encashment, the same were not honoured by the Bank. It was alleged that certain feature films and programmes were allowed to be telecast by Prasar Bharti on the strength of the said Bank Guarantees and had Prasar Bharti known that the said Bank Guarantees would not be honoured, it would not have allowed the telecast of the films and programmes. It was also stated that the Chairman, Managing Director, Directors and other officers of the Bank had colluded and conspired to cause wrongful loss to Prasar Bharti and make wrongful gain for themselves by issuance of the aforesaid Bank Guarantees and