NAGAVALLI Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This petition is filed by the petitioners-accused Nos.1 and 2 under Sec. 439 of Cr.P.C. seeking anticipatory bail in Crime No.139/2022 registered by Kumaraswamy Layout Police Station, Bengaluru for the offences punishable under Ss. 506, 504, 406, 420 read with Sec. 34 of IPC.

(2.) Heard the arguments of learned Senior Counsel for the petitioners and learned High Court Government Pleader for the respondent-State.

(3.) The case of the prosecution is that the complainant-Sampangi Ramaiah had filed a complaint to the Police on 24/4/2022, alleging that the petitioners are said to be running financial business in the name of Siri Vaibhava Souharda Pattina Sahakari Niyamitha (hereinafter referred to as 'Society') and the petitioners induced the complainant that they will pay 14% interest on the fixed deposit in their Society. Therefore, the complainant said to be invested crores of rupees in the said Society and in spite of maturing the FD, the petitioners-Society did not pay the amount invested by the complainant. The petitioners-Society said to have been collected and cheated more than Rs.5.00 crores and when the complainant approached the petitioners, the petitioners said to be threatened with dire consequences. Therefore, the complaint came to be filed. After registering the case, the Police arrested the petitioners-accused Nos.1 and 2, they have been remanded to the judicial custody. Subsequent to their arrest, the petitioners approached the Co-ordinate Bench of this Court by filing Crl.P.No.4631/2022 under Sec. 482 of Cr.P.C., wherein, the Co-ordinate Bench has stayed the further proceedings in present FIR i.e., in Crime No.139/2022 and hence, the petitioners prayed the Court to grant regular bail.