Manohar Prasad and ors. Vs. State of Bihar and anr.

criminal procedure code, 1973, section 438(2) - grant of conditional bail--offence under sections 406 and 420, ipc--petitioner ready to make payment of whole amount--request to allow making payment in instalments--accepted by opposite party--bail can be granted on satisfactory deposit of first instalment within given period--if payment is made the court of cjm will allow bail on furnishing bonds and sureties as per satisfaction of chief judicial magistrate who will grant bail--provided if period to deposit money is violated the bail will automatically be cancelled with no more benefit under ots is scheme--petition disposed of. - - 10,000/- each with two sureties of the like amount each to the satisfaction of arresting/chief judicial magistrate, khagaria, in khagaria mufassil p......and within a period of two years from the date of the payment of 1st instalment petitioner will clear the entire aforesaid amount by increasing some last instalments or last instalment. it is further submitted that for payment of 1st instalment three months time be granted.3. learned counsel for the informant accepts the aforesaid proposal but submits that time for payment of 1st instalment till 15th october, 2005 may be granted. this proposal is accepted by the learned counsel for the petitioner.4. in the facts and circumstances of the case, it is hereby ordered that if the petitioners deposit a sum of rs. 5/- lacs by 15.10.2005 by demand draft or cash with bihar state credit and investment corporation ltd., they, 1. manohar prasad 2. mukesh kumar and 3. rajesh kumar, in the event of arrest/surrender within four weeks from today before the court below shall be released on bail on furnishing bail bond of rs. 10,000/- each with two sureties of the like amount each to the satisfaction of arresting/chief judicial magistrate, khagaria, in khagaria mufassil p.s. case no. 539/04 subject to the condition laid down under section 438(2), cr pc.5. after release of the petitioners they shall deposit the balance amount in quarterly instalments each instalment being of rs. 10/- lacs or more as desired by the petitioners and the entire sum of rs. 81,72,000/- will be deposited by 14.10.2007. the second instalment will be deposited in three months from the date of deposit of first instalment and in this way subsequent instalments will be paid. it is made clear that in default of payment of any instalment the bail to the petitioners will result in automatic cancellation and benefits under ots scheme shall stand forfeild.