The court emphasized the importance of considering the material collected by the I.O. during the investigation and found that there were no new grounds to release the applicant on bail.

Ravindra Singh, J.

Heard Sri Viresh Mishra, Senior Advocate, assisted by Sri Vikas Chandra Mishra, learned counsel for the applicant, learned A.G.A. for the State of U.P. and Sri Murlidhar Mishra, learned counsel for the complainant.

This is second bail application moved by the applicant S.P. Jalan, with a prayer that he may be released on bail in case crime no. 802 of 2009 under sections 409,420,467,468,471 I.P.C. P.S. Sahibabad district Ghaziabad. The criminal misc. first bail application no. 31505 of 2009 has been rejected by Hon'ble Y.K.Sangal,J. on 17.12.2009 after considering the merits of the case.

This bench has been nominated by the Hon'ble the Chief Justice on 13.7.2010 to hear this bail application.

2. The facts, in brief, of this case are that the F.I.R. of this case has been lodged by Sri Prakash Chandra Gupta against the applicant on 3.4.2009 at 9.30 p.m. in respect of the incident illegally occurred since 1.9.2007 to 12.11.2008 alleging therein that the first informant was the secretary of Sanjeev Memorial Educational Society, 236 Main Park, Sahibabad Ghaziabad and the applicant was the chairman to the above mentioned Society, the Society was running the school in the name and style of 'Sanjeev Memorial Public School' Sahibabad Ghaziabad, the applicant being the chairman of that Society has changed the name of the above mentioned School, forcibly as Mayo International School. The Mayo International School is already situated in Paparganj Delhi, which was having no concern with the first informant and its society of the school, the applicant has opened an account in the name of the above mentioned school in syndicate Bank, Papargnj Delhi Branch, and has obtained a cheque book in the name of 'Mayo International School, Shyam Enclave,Shalimar Extension, II' the account was to be operated by any of them, i.e. either by the Chairman or by its Secretary, but the applicant was always getting the cheque book and the statement of the Bank, the applicant refused to show the statement of the Bank to the first informant and he extended threat to commit the murder of the first informant. It was stated by the applicant that the Bank Manager had told not to show any documents, when the first informant obtained the account and statement of the Syndicate Bank from its another Branch, he came to know that the applicant had withdrawn an amount of Rs. 22.85 Lakhs on 11.9.2007 through cheque no. 522401, he withdrew an amount of Rs. 10 lakhs on 19.11.2007 through cheque no. 522410, he withdrew Rs. 10 lakhs on 17.11.2007 an amount of Rs. 3 lakh on 25.6.2008, and an amount of Rs. 3 lakhs on 30.6.2008 he withdrew an amount of Rs. 90,000 on 12.11.2008 through cheque no. 465375 the total amount withdrawn by the applicant was 49.75 lakhs by putting his signature on the cheque and he had transferred the money of the institution in the account opened in the name of other school and institution. it is alleged that the applicant with an dishonest intention played fraud and misappropriate/embezzled the money of the above mentioned institution, the applicant has committed serious offence, he may be punished.

3. It is contended by the learned counsel for the applicant that the applicant is a qualified Chartered Accountant, he is an old assessee of the income Tax, he also run another company of which he is the Managing Director. He is also the Chairman of an institution namely Mayo International School, he has not committed any offence, nor he has embezzled any amount of the money, the first informant is also a qualified Chartered Accountant, according to the prosecution version itself the applicant was the Chairman of Sanjeev Memorial Educational Society and the first informant was its Secretary, the rules and regulation of the society empower the Chairman " to spend any amount for the completion of society work or to fulfil the main aims and objects of the society without the prior permission of the Managing committee." if the entire a