UDAY MOHANLAL ACHARYA vs STATE OF MAHARASHTRA

The Supreme Court interpreted the phrase 'if not already availed of' in the context of bail applications under Section 167(2) of the Criminal Procedure Code, establishing that an accused can be considered to have availed of their right to bail if they file an application and express readiness to furnish bail, even if the court has not yet considered the application. The Court emphasized the need for clarity in the rights of accused individuals in light of the Maharashtra Protection of Interest of Depositors (In Financial Establishment) Act, 1999, which aims to protect public deposits against fraudulent financial establishments. The appeal was decided in favor of the interpretation that supports the accused's rights under the law.