PIYUSH SONI Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) The petitioner herein, who is the accused in Crime No.280/2014 for the offence punishable under Section 420 of the Indian Penal Code with the first respondent police, which was instituted at the instance of the second respondent herein, has sought for quashing of the said complaint against him.

(2.) The summary of the complaint of the second respondent before the first respondent police is that the accused was running a business in the name and style of M/s Padmavathi Finance and Licence Holder Pawn Broker. The complainant claims that he was doing transaction with him in getting the ornaments prepared etc. The accused had taken from him a hand loan of Rs.4,00,000/- on 11.02.2013, another sum of Rs.1,40,000/- on 01.03.2014 and one more sum of Rs.2,00,000/- on 13.02.2014. Apart from this, a gold mangalya chain weighing about 37 grams belonging to the complainant was also with the accused, however, the accused neither returned the loan amount and interest there upon nor the gold chain. In this manner, the accused after taking loan from about 48 persons, with an intention to cheat them, has not returned any amount to any of them and thus after accumulating a sum of rupees three and a half crore, he, along with his family, left the place in the month of May 2014. The complainant has further stated that in this connection he approached one Sri. Naresh Soni, the President of Gold Merchants, who assured that he would summon the accused and settle the matter and also requested not to give any police complaint against the accused. Thus, the complainant and other persons waited for sometime as requested by said Naresh Soni. Thereafter, they came to know that said Naresh Soni has acted only to protect the accused. In the meantime, the accused had filed an insolvency petition in the competent court and ensured service of notices upon the respondent. With this the complainant has alleged that accused No.1 had cheated not only him but about 48 persons. The said complaint was registered in the first respondent police station Crime No.280/2014 for an offence punishable under Section 420 of the Indian Penal Code (hereinafter for brevity referred to as the ' IPC ').

(3.) The respondents are represented by their counsel.