SHANKAR SHEKAR Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Heard the learned counsel for the petitioners and the learned High Court Government Pleader for the State, and perused the records.

(2.) The petitioners, husband and wife, are accused of committing offence punishable under Section 420 of IPC, and information in this regard is registered in Crime No.403/2019 on 14.12.2019. The petitioners are not yet apprehended and their application in Crl.Misc.No.1816/2020 for anticipatory bail under Section 438 of Cr.P.C. is rejected by the LXII Additional City Civil and Sessions Judge, Bengaluru City (CCH-63) on 7.3.2020. Therefore, the petitioners are before this Court.

(3.) It has been alleged by the complainant, Sri Purushotham. K that he made over certain immovable property papers to the first petitioner because the first petitioner assured the complainant that he would secure loan as against the security of such immovable property. The first petitioner did not furnish the details of the loan nor return the documents. The first petitioner mislead him by stating that one of the banks had rejected his application for loan and he was pursuing with another bank for loan. The complainant suspecting bona fide ascertained that the petitioners had purchased eight Closed Containers as against the security of the complainant's immovable property. These Closed Containers were purchased in the name of the complainant and his wife, but used exclusively by the petitioners for their advantage. The petitioner and his wife defaulted in repaying the loan. The bank initiated coercive measures for recovery of the loan granted for purchase of the aforesaid vehicles. As such, the petitioners are guilty of the offence punishable under Section 420 of IPC.