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Heard the learned counsel for the petitioner and the State.

The petitioner seeks bail in anticipation of his arrest in connection with Fesar P. S. Case No. 48 of 2018 dated 26.08.2018 instituted for the offences under Sections 406, 420 and 34 of the Indian Penal Code.

The petitioner is named in the F.I.R. as the Secretary of Barawan PACS in the district of Aurangabad. It appears that on the complaint of the villagers regarding faulty functioning of the PACS by its President namely Abriram Vishwakarma, an enquiry was conducted by five persons. During the course of enquiry, it was found that under the Scheme for deposit of money which would fetch Patna High Court Cr.Misc. No.72406 of 2018(2) dt.19-12-2018 interest in favour of the investors, the investors were not being provided with pass-books nor were they being given money on maturity of the investments. There were other complaints also before the enquiry committee. Ultimately, it was found by the committee that the conduct of the functionaries of the PACS is suspicious and the manner in which the PACS is being controlled by its President has lef every person associated with the PACS unhappy. In the aforesaid undemocratic way of functioning of the PACS President, petitioner and other functionaries also have supported him.