When an investigation is not completed within the prescribed period of 90 days or 60 days, as the case may be, and the accused is in custody on expiry of the said period; if he is prepared to and does furnish bail, the accused is entitled to be

Option (1) is incorrect: Discharge is during trail procedure. Option (2) is incorrect: Acquittal is also during trial procedure. Option (3) is incorrect: When an investigation is not completed within the prescribed period, then bail can be granted only by the concerning magistrate. Option (4) is correct: Under Section 167(2) of the CrPc, when an investigation is not completed within the prescribed period of 90 days or 60 days, as the case may be, and the accused is in custody on expiry of the said period, the accused is entitled to be released on bail if he is prepared to and does furnish bail.