K.RAMAKRISHNA Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) These two petitions for anticipatory bail are disposed of by a common order as the State Public Prosecutor has raised question of maintainability.

(2.) The petitioners have sought anticipatory bail in connection with two FIRs in Crime No.8/2020 and Crime No. 11/2020 registered by the respondent police in relation to offences punishable under Section 406 of Indian Penal Code and Section 9 of Karnataka Protection of Interest of Depositors in Financial Establishments Act ('the Act' for short) read with Section 34 of IPC. The first petitioner is the President and the second petitioner is the Vice President of Gurusarva Bhowma Souharda Credit Co-operative Limited. FIR in Crime No.8/2020 was registered at the instance of a depositor by name Y.G. Prasanna Narasimha, and Crime No. 11/2020 at the instance of Mr. Sanjay Koratakar, Special Officer. Both the complainants have alleged misappropriation by the management of Gurusarva Bhouma Souharda Credit Co-operative Limited.

(3.) The State Public Prosecutor Sri. V.M. Sheelavant takes preliminary objection to the maintainability of the petitions under Section 438 of Cr.P.C, he refers to Section 18(2) of the Act and argues that it excludes the applicability of Section 438 of Cr.P.C. But learned counsel for petitioners Sri. I.S. Pramod Chandra argues this way: Section 18(2) is bar for the Special Court constituted under the Act, it is not applicable to the High court. And this is the reason for the petitions for anticipatory bail being filed in the High court directly. A Co-ordinate bench of this court has granted anticipatory bail for the similar offences, he refers to query report pertaining to Criminal Petition 3921/2020 and Criminal Petition 4171/2020 obtained from the official website of this Court. His further submission is that High Court has concurrent jurisdiction, the bar is only in respect of offences under the Act, not under IPC; and since the offence under Section 9 of the Act had not been invoked when FIR was registered, Section 18(2) of the Act has no application.