N. GAYATHRI Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) The present petition has been filed by accused Nos.3 and 4 under Section 439 of Cr.P.C. to release them on bail in Crime No.103/2014 of Channapatna Town Police Station for the offences punishable under Sections 420, 120(B) R/W Section 149 of IPC and Section 9 of the Karnataka Protection of Interest of Depositors in Financial Establishment Act, 2004.

(2.) I have heard the learned counsel Sri. Ajay Kumar for petitioner-accused Nos.3 and 4 through video conferencing and the learned High Court Government Pleader Sri. R.D.Renukaradhya for respondent-State.

(3.) The gist of the case of prosecution in brief is that during the year 1999, accused persons started a company under the name and style of Green Buds Agro Farm Limited and have issued pamphlets and booklets to the public at large with its aims and objects, invited public to deposit money in different schemes and assured to give higher interest to them from that company. Being attracted with the schemes, complainant and others deposited amount in the company and subsequently, they did not pay proper interest and the maturity amount with an intention to cheat the complainant and other investors. On the basis of the complaint, a case has been registered. It is further alleged that due to the said act, petitioneraccused have cheated Rs.1,48,80,775/-.