Bail is primarily for ensuring attendance at trial, not punishment; the right to a speedy trial under Article 21 protects personal liberty.

JUDGMENT :

G.SATAPATHY, J.

1. This is an application U/S. 439 of Cr.P.C. by the Petitioner for grant of bail in connection with Badambadi P.S. Case No. 181 of 2022 corresponding to G.R. Case No.785 of 2022 pending in the Court of learned J.M.F.C.(City), Cuttack for commission of offence U/Ss. 420/294/409/506/34 of the IPC , but subsequently charge-sheeted (preliminary) for offence U/Ss.420/506/409/294/34 of , on the allegation that the petitioner being the Chief Executive Officer of Jai Jhadeswar Co-operative Society Ltd had allured the informant and cheated him by misappropriating the amount deposited by him in the Society.

2. In the course of hearing of bail application, Mr.K.P. Mishra, learned Senior Counsel appearing for the petitioner has submitted that there is of course allegation against the petitioner for cheating and misappropriating the money deposited by the informant, but the petitioner is innocent of the offence and he has not committed any offence nor misappropriated the money of the informant. It is further submitted by him that the petitioner although was the Chief Executive Officer of the Co- operative Society, but there were other office bearers of the Co-operative Society and the petitioner was not alone the in charge of the affairs of Co-operative Society and in case, any misappropriation of the money deposited by the informant had been done, the same might have been done by some other employee of the Society, but not the petitioner. It is also alternatively submitted that the petitioner being the CEO of the society has every intention to settle the dispute of the informant, but the same can be done once the petitioner is released on bail inasmuch as there are fifteen members engaged in the management and affairs of the Co-operative Society who had also availed loan from the Society and the amount deposited by the informant can be settled by way of funds kept in the Society. In summing up his argument, Mr. Mishra, has highlighted the date of detention of the petitioner since last one year and prayed to grant bail to the petitioner in this case.

3. On the other hand, Mrs.S.R. Sahoo, learned ASC, however, seriously opposes the bail application of the petitioner and she inter alia has submitted that the petitioner is not only involved in this case, but has been involved in other four cases of similar nature and, thereby, the petitioner should not be granted bail.

4. Mr.R.N. Das Mohapatra, learned counsel for the informant, however, has vociferously objected the bail application of the petitioner by submitting inter alia that the petitioner had cheated the informant and misappropriated his deposits by transferring some lakhs of rupees from the account of the Society to the personal accounts of the petitioner and his family members and in the process, the petitioner had cheated and misappropriated the amount of innocent depositors along with co-accused persons. Mr. Das Mohapatra accordingly has prayed to reject the bail application of the petitioner.

5. On being queried by the Court, learned counsel for the parties by referring to the affidavit filed by the IIC, Badambadi P.S. in CRLMP No. 750 of 2022 apprised that cash of rupees more than one crore deposited in the name of accused persons at different banks has been freezed by the I.O. In the present case at hand, the informant has not clarified in the FIR as to the amount deposited by him in the Society. It is also not disputed that the petitioner is in custody since 25.06.2022 and subsequently remanded in this case. Admittedly, the petitioner was the Chief Executive Officer of the Co-operative Society and there were also o