JUDGMENT :

Ilesh J. Vora, J.

1. By way of the present application under Section 438 of the Code of Criminal Procedure, 1973, the applicant-accused has prayed for anticipatory bail in connection with the FIR being C.R. No. I - 123 of 2019 registered with Kalupur Police Station, Ahmedabad City for the offences under Sections 406 and 420 of the Indian Penal Code, 1860.

2. Brie facts leading to this anticipatory bail application are that, on 31.12.2019, the informant lodged the FIR with regard to the offence that alleged to have been committed between 25.12.2018 to 25.11.2019, inter alia, alleging that the accused named in the FIR i.e. Tapas Mandal and the complainant with other 26 members are the Gold manufacturer and retail ship owners in the Ahmedabad City and they have jointly formed a group for running gold deposit business, which is known as V.C. in short. The object of such V.C. is to deposit 1963.260 grams gold for 28 months and on rotation basis, each of the members intend to keep the said gold monthly. As per the complaint, during the charge of the said V.C., the accused named in the FIR has misappropriated the gold deposited by the complainant. Accordingly, as such the complain