Therefore, this application can be allowed by modifying the condition Nos. (i), (ii) and (iii) in the impugned order dated 17/6/2014. Insofar as the contention regarding imposing of additional condition is concerned, I do not think that same is necessary as the applicant is a well established finance company which is furnishing an undertaking as well as an indemnity bond, which, therefore, are to be seen to be as good as a Bank guarantee. In the result, the application is allowed and the condition Nos. (i), (ii) and (iii) of the order dated 17/6/2014 are hereby deleted and substituted by the following conditions.:
I. The photographs of the seized vehicles taken by the Investigating Officer shall be used as secondary evidence during the trial and, therefore, physical production of the vehicles is dispensed with.II. The applicant is permitted to sell the vehicles by auction. Before auctioning off the vehicles the applicant shall get the vehicles valued by recognized Government Valuer and the Valuation Report shall be submitted to the trial Court. The details of the auction and auction proceedings shall be submitted to the trial Court.
III. The applicant shall submit an indemnity bond, stating therein, that the applicant shall remit the proceeds from the sale of the vehicles conducted through auction by the applicant to such party as may be directed by the Court. The applicant shall also submit an undertaking within two weeks from the date of the order to the effect that in the event the ownership of vehicles is found to be vested with the accused persons, the sale proceeds of the vehicles shall be deposited by it in the trial Court or shall be paid by it in terms of the order to be passed in that regard by the trial Court.
IN THE HIGH COURT OF BOMBAY (NAGPUR BENCH)
S.B. Shukre, J.