VIJAY Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This petition is filed by the accused under Sec. 439 of The Code of Criminal Procedure, 1973 (hereinafter referred to as the ' Cr.P.C .', for brevity) seeking bail in Crime No.29/2022 of Gadag CEN Police Station registered for an offence punishable under Sec. 420 of The Indian Penal Code (hereinafter referred to as the ' IPC ', for brevity) and Sec. 21(3) of the Banning of Unregulated Deposit Schemes Act, 2019 (hereinafter referred to as the 'BUDS Act', for brevity).

(2.) The case of the prosecution is that, one Santhosh Mutagar son of Prabhakar filed a complaint stating that, with his consent, the petitioner, who was running Shri Puttaraj Finance Corporation, Gadag, succeeded in taking deposit of Rs.10,00,000.00 and 407.07 grams of gold on 1/10/2020 by executing a document with two sureties. The complainant, when he wanted that money, went along with his mother to the petitioner seeking return of money and gold but the petitioner was postponing periodically on one or the other ground and finally on 23/4/2022, the complainant visited the office of the petitioner but someone was running a different shop in that premises and they told that, already the petitioner left the office and therefore, they visited his house at Rajiva Gandhi Nagar but the house was also closed and failed to gather proper information from neighbours. Therefore, he lodged a complaint which came to be registered in Gadag CEN Police Station Crime No.29/2022 for the aforesaid offences against the petitioner. The petitioner came to be arrested on 27/7/2022 and he is in judicial custody. The petitioner filed bail application and the same came to be rejected by the learned Additional District and Sessions Judge, Gadag, by order dtd. 5/8/2022. Therefore, the petitioner is before this Court seeking bail.

(3.) Heard the arguments of the learned counsel appearing for the petitioner and the learned High Court Government Pleader for the respondent- State.