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2013 DIGILAW 917 (AP)

Cholamndalam Investment and Finance Co. Ltd. v. State of A. P.

2013-10-23

R.KANTHA RAO

body2013
ORDER R. Kantharao, J. 1. Heard the learned counsel appearing for the petitioner and the learned Additional Public Prosecutor representing the State. Though served with notice, the second respondent did not appear either in person or through counsel. 2. The vehicle i.e., Force Traveller/12+D bearing registration No. AP 31TB 9872 was seized in Crime No. 63 of 2013 of IV Town Police Station, Visakhapatnam, registered for the alleged commission of offence under Sections 420 and 406 of IPC and Section 5 of A.P., Protection of Depositors and Finance Establishment Act, 1999 and Sections 4, 5 and 6 r/w. Sections 2(c), 3 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978. The case was registered against the second respondent on the allegation that he collected huge amounts from the public and purchased some properties and also the said vehicle with the said amounts. 3. The version of the petitioner/3rd party is that it is a finance company and the vehicle was purchased by the second respondent under Hire Purchase Agreement with the petitioner company and it has got the first charge over the vehicle. The petitioner filed a petition under Section 451 of Cr.P.C., before the learned Court below to grant interim custody of the vehicle, but the said petition was dismissed on the ground that the vehicle was purchased by the second respondent with the amounts illegally collected from the general public. The contention of the petitioner is that it is nothing to do with the second respondent and as the vehicle was purchased under Hire Purchase Agreement, if it is kept idle for long time, it will be damaged and that the vehicle may be released on furnishing bank guarantee for appropriate amount. 4. Having regard to the facts and circumstances stated herein above, I am of the view that interim custody of the vehicle can be granted to the petitioner/3rd party. Accordingly, the Criminal Revision Case is allowed. The order dated 28-6-2013 in Crl. M.P. No. 885 of 2013 on the file of the Metropolitan Sessions Judge-cum-Special Judge to try the offences under NDPS Act, Visakhapatnam is set aside. Accordingly, the Criminal Revision Case is allowed. The order dated 28-6-2013 in Crl. M.P. No. 885 of 2013 on the file of the Metropolitan Sessions Judge-cum-Special Judge to try the offences under NDPS Act, Visakhapatnam is set aside. The vehicle i.e., Force Traveller/12+D bearing registration No. AP 31TB 9872 is ordered to be given interim custody to the petitioner on his furnishing bank guarantee for an amount of ` 3,00,000/- (Rupees three lakhs only) to the satisfaction of Metropolitan Sessions Judge-cum-Special Judge to try the offences under NDPS Act, Visakhapatnam.