1. After hearing arguments of Mr. G. L. Sanghi, learned senior counsel for the appellant and Mr. M. Veerappa, learned Counsel for respondent No. 2-State we did not find much scope to interfere with the impugned order.
2. However, learned senior counsel for the appellant submitted that appellant is tendering an unconditional apology. He made a plea for accepting the said apology and save the appellant from jail sentence. It was lastly pleaded that appellant may be given one more chance to mend the delinquent act for which he offered to pay the entire amount due to the Government in instalments. An affidavit of undertaking has been filed by the appellant offering to pay the balance amount of Rs. 15,10,000/- in equal monthly instalments of Rs. 1,00,000/ - for a period of 15 months and the balance amount on the last i.e. 15th instalment would be Rs. 1,10,000/-. The said amount will be paid without, in any manner, telescoping into the monthly rent of Rs. 25,000/- which he has to pay even otherwise. The undertaking has incorporated that aspect also.
3. After considering all aspects we think that appellant can be saved from jail sentence in view of his undertaking. We make it clear that if he fails to abide by this Undertaking even in regard to payment of one monthly instalment he will forfeit the benefit granted by us and he will be liable to go back to jail to serve the remaining period of sentence as per the impugned order.
4. The amount together with interest deposited by the appellant pursuant to the directions issued by this Court are reported to be lying in fixed deposits accruing interest thereon. We permit the respondent No. 2-State to collect those amounts from the Registry of the High Court or the Registry of this Court wherever the deposits lie.
5. This appeal is accordingly disposed of.