( 1 ) BY way of this Criminal Misc. Application, the applicant-the original complainant The Kheralu Nagarik Sahakari bank Limited (hereinafter referred to as the bank or the applicant), has prayed for quashing the order dated 16th September 2005, passed by the Additional Sessions judge and Presiding Officer, Fast Track court No. 2, Ahmedabad (Rural) in Criminal misc. Application No. 715 of 2005 and to cancel the bail granted to the accused, the respondent no. 2 herein (hereinafter referred to as respondent No. 2 or Branch Manager ).

( 2 ) BEFORE considering the merits of the matter, it would be necessary to set out the short facts of the case which are as under:1]. The applicant bank is a cooperative bank having its one of the branches at Sola Road area of Ahmedabad. The respondent No. 2 herein was the Branch manager of the applicant Bank. As per the applicant, during the tenure of the respondent No. 2 as Branch Manager, he has caused financial loss to the applicant bank to the extent of Rs. 3,50,64,825/- by way of fraudulent transactions. As regards the present complaint is concerned, the amount of misappropriation is about Rs. 25,92,598. 30 from one Current Account No. 5490. 2]. In connection with the said alleged irregularities a First Information report was lodged 21. 10. 2003 at Ghatlodia police Station, which came to be registered as C. R. No. 362 of 2003 for the alleged commission of offences punishable under sections 406, 420, 114 and 120b of Indian penal Code. In the said FIR the respondent no. 2 was shown as accused No. l. According to the FIR, the modus operand! adopted by the respondent No. 2 was that though a particular account holder does not have sufficient balance in his account and no cash credit limit or loan facility is granted, the respondent No. 2, who was holding the post of Branch Manager at the relevant time, by misusing his position, allowed the cheques to be honoured and withdrawal slips drawn by such account holder for payment and therefore permitted unauthorized withdrawal causing loss to the bank. 3]. The FIR came to be lodged on 21st October 2003. The respondent No. 2 thereafter filed an application for anticipatory bail before the Sessions Court which came to be rejected. Subsequently the respondent no. 2 approached this Court praying for anticipatory bail which came to be withdrawn on 12. 5. 2004. In spite of this, the respondent no. 2 was not arrested.

( 3 ) THE applicant bank therefore filed Special Criminal Application No. 74 of 2005 before this Court for a direction to the concerned Police Officer to take steps for arresting the accused. The said petition came to be disposed of by directing the authorities to take steps for the purpose of taking action under sections 82 and 83 of Cr. P. C for declaring the respondent No. 2 as accused absconding. However, it appears that even thereafter no arrest was made for quite some time. 1]. The applicant made representation on 1. 8. 2005 to various authorities including the Chief Minister, home Secretary, Director General of Police, etc. On 24th August 2005 the respondent no. 2 came to be arrested. The respondent no. 2 filed an application for regular bail before the District and Sessions Court at ahmedabad (Rural ). The Sessions Court passed order dated 19. 9. 2005 granting bail to the respondent No. 2. The applicant bank has therefore filed the present application praying to cancel the said order of bail.

( 4 ) HEARD Mr. P. K. Jani for the applicant, Mr. H. L. Jani for the respondent no. l State and Mr. P. M. Thakkar, Senior advocate, with Mr. D. M. Thakkar and Mr. V. K. Joshi for the respondent No. 2. 1]. Mr. P. K. Jani submitted that the sessions Judge has committed an error in releasing the respondent No. 2 on bail without considering his grave involvement in serious financial irregularities. 2]. He submitted that from the record it is evident that the respondent No. 2 was absconding for quite some time and it is only after an ord