RAMA KRISHNA KARUTURI Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This petition is filed by accused No.1 under Sec. 438 of the Code of Criminal Procedure, 1973, for granting anticipatory bail in Crime No.116/2022 registered by Sadashivnagar Police Station for the offences punishable under Ss. 406 and 420 of the Indian Penal Code, 1860.

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

(3.) The case of the prosecution is that, on the complaint of one G.V.Pavan Kumar, working in ICICI bank to the police alleging that accused No.2 said to have borrowed loan of Rs.29,70,00,000.00 by pledging the documents and this petitioner was a guarantor/co-applicant of the said loan and he has pledged so many documents accordingly, the bank has disbursed a sum of Rs.20,00,00,000.00 to accused No.2. Subsequently, the accused become defaulter in payment of the loan and a suit was filed before DRT by ICICI bank where it was revealed that this petitioner being a guarantor of accused No.2 had already sold the property which was pledged to the bank without permission and thereby cheated and misappropriated the loan sanctioned by ICICI bank. After registering the complaint, police are making hectic efforts to arrest the petitioner. Both accused Nos.1 and 2 filed bail petition before the Sessions Judge for granting anticipatory bail, where Sessions Judge granted anticipatory bail to accused No.2 and bail petition of this petitioner came to be rejected. Hence, the petitioner is before this court seeking anticipatory bail.