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2022 DIGILAW 1115 (KAR)

Nagavalli v. State of Karnataka

2022-08-26

K.NATARAJAN

body2022
JUDGMENT 1. This petition is filed by the petitioners-accused Nos.1 and 2 under Section 439 of Cr.P.C. seeking anticipatory bail in Crime No.139/2022 registered by Kumaraswamy Layout Police Station, Bengaluru for the offences punishable under Sections 506, 504, 406, 420 read with Section 34 of IPC. 2. Heard the arguments of learned Senior Counsel for the petitioners and learned High Court Government Pleader for the respondent-State. 3. The case of the prosecution is that the complainant-Sampangi Ramaiah had filed a complaint to the Police on 24.04.2022, alleging that the petitioners are said to be running financial business in the name of Siri Vaibhava Souharda Pattina Sahakari Niyamitha (hereinafter referred to as 'Society') and the petitioners induced the complainant that they will pay 14% interest on the fixed deposit in their Society. Therefore, the complainant said to be invested crores of rupees in the said Society and in spite of maturing the FD, the petitioners-Society did not pay the amount invested by the complainant. The petitioners-Society said to have been collected and cheated more than Rs.5.00 crores and when the complainant approached the petitioners, the petitioners said to be threatened with dire consequences. Therefore, the complaint came to be filed. After registering the case, the Police arrested the petitioners-accused Nos.1 and 2, they have been remanded to the judicial custody. Subsequent to their arrest, the petitioners approached the Co-ordinate Bench of this Court by filing Crl.P.No.4631/2022 under Section 482 of Cr.P.C., wherein, the Co-ordinate Bench has stayed the further proceedings in present FIR i.e., in Crime No.139/2022 and hence, the petitioners prayed the Court to grant regular bail. 4. Per contra, learned High Court Government Pleader seriously objected the bail petition and contended that the petitioners have cheated more than Rs.5.00 crores from the complainant and also cheated various investors. The Co-ordinate Bench has stayed only in respect of the KPID Act, but, there were number of cases registered against him. The accused lent loan more than Rs.64.00 crores without any security and in view of staying the investigation, the police are unable to proceed further. Hence, prayed for dismissing the petition. 5. The Co-ordinate Bench has stayed only in respect of the KPID Act, but, there were number of cases registered against him. The accused lent loan more than Rs.64.00 crores without any security and in view of staying the investigation, the police are unable to proceed further. Hence, prayed for dismissing the petition. 5. Having heard the arguments of learned Senior counsel for the petitioners, learned High Court Government Pleader for the respondent-State and on perusal of the records, it is alleged that the complainant has invested Rs.5.00 crores in the Society belongs to the petitioners and they have not refunded the same though they assured to give interest more than 10 to 14%. Of course, the Police have also said to be registered some more cases against the petitioners in other Police Station limits especially at Rajarajeshwari Nagar Police Station in Crime No.200/2022 and the another case in Subramanyapura Police Station in Crime No.187/2022 for the similar offences. In those two crimes, the petitioners have cheated more than Rs.19.00 lakhs and Rs.28.00 lakhs respectively and it also appears the further various investors were coming forward to file complaint against the petitioners-Society. It reveals that the petitioners have cheated various investors by receiving the investment from the various general public and did not repay the same. The Co-ordinate Bench of this Court has already stayed the further investigation of this case in Crime No.139/2022 of Kumaraswamy Layout Police Station and it is further clarified that at the request of the learned counsel for the petitioners, the Court has only stayed the further proceedings in this case and there is no hurdle in considering the bail petition of the petitioners. 6. Once the Co-ordinate Bench stayed the further proceedings and investigation in the same crime number, keeping the petitioners in custody in this case will amount to a detention without due process of law. Therefore, this Court have no other option to release the petitioners on bail in this case. Of course, the petitioners may be in custody in other cases also but no such bail petition is filed in those cases. The records reveal that there is a prima facie case against the accused for having cheated the complainant and also other investors. The Co-ordinate Bench has stayed the further proceedings in respect of the KPID Act. Of course, the petitioners may be in custody in other cases also but no such bail petition is filed in those cases. The records reveal that there is a prima facie case against the accused for having cheated the complainant and also other investors. The Co-ordinate Bench has stayed the further proceedings in respect of the KPID Act. It has to be decided by the concerned Court in respect of the KPID Act until disposal of the said cases by the Co-ordinate Bench, it is deem fit and proper to release these petitioners on bail in this case for a limited period. Therefore, without expressing any opinion on the merits of the case, by imposing certain conditions, if bail is granted to the petitioners, no prejudice would be caused to the case of the prosecution until disposal of the case by the Co-ordinate Bench in the petition filed under Section 482 of Cr.P.C. Hence, I pass the following Order Accordingly, the petition is allowed in part. The Trial Court is directed to release the petitioners- accused Nos.1 and 2 on interim bail in Crime No.139/2022 registered by Kumaraswamy Layout Police Station for the offences punishable under Sections 506, 504, 406, 420 read with Section 34 of IPC, until disposal of the petition under Section 482 of Cr.P.C. by the Co-ordinate Bench, subject to the following conditions: (i) Petitioners-accused Nos.1 and 2 shall execute a personal bond for a sum of Rs.10,00,000/- (Rupees Ten Lakh only) each with two sureties for the likesum to the satisfaction of the Trial Court; (ii) Petitioners shall not indulge in similar offences strictly; (iii) Petitioners shall not tamper with the prosecution witnesses directly/ indirectly.