VIKRAM PRABHAKAR Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This petition is filed under Sec. 438 of Cr.P.C. seeking anticipatory bail in the event of arrest of the petitioners/accused Nos.1, 2, 3 and 6 in Crime No.222/2022 of Kodigehalli Police Station, registered for the offences punishable under Ss. 417, 420, 406 and 506 read with Sec. 149 of IPC, pending on the file of VII Additional Chief Metorpolitan Magistrate, Nrupatunga Road, Bangalore City.

(2.) Heard the arguments advanced by the learned counsel for the petitioners and learned High Court Government Pleader for respondent-State. Perused the records.

(3.) The brief factual matrix leading to the case are that the complainant was introduced to the first petitioner by the fourth petitioner and by representing the company M/s. Vikram Structures Pvt. Ltd., they have entered in to a development agreement to construct a commercial complex spread over 11 floors by sharing 50% built-up area by developer and the landlord which approximately comes to 82,216 sq.ft for the builder and landlord each. It is further alleged that as per the said joint development agreement and supplemental agreement, the entire 5th floor was given to share of the developer and in a agreement of sale dtd. 19/1/2017 between the developer and complainant, the developer had agreed to construct and give 2000 sq.ft of build-up area with three car parking to the complainant for a sale consideration of Rs.1,06,00,000.00 with a promise to deliver the flat within June 2017, with a grace period of 6 months and if the developer fails to deliver the space by June 2017 to the complainant, the developer has promised to give rental for the property at the rate of Rs.1,00,000.00 p.m. for 2000 sq.ft for built-up area. It is also alleged that subsequently the developer has sub-leased the property which was the subject matter of the agreement in favour to a company called INDIQUBE and on enquiry it is revealed that the property belongs to the said company was sold to more than 14 investors. It is asserted that the built-up area in 5th floor is 14,885 sq.ft and the sale agreement were executed in favour of various persons including sale proceedings to the extent of 42,615 sq.ft which is more than 27,730 sq.ft. It is also alleged that the developer is entitled for Rs.82,200.00 sfq.ft but he has sold 2,72,600 sq.ft in excess to the tune of 1,90,384 sq.ft and cheated to the purchasers. It is further alleged that the initially there was an promise for execution of sale deed but subsequently the complainant was threatened and as such he filed a complaint. The complaint came to be registered under crime No.222/2022 and apprehending their arrest the petitioners are before this Court.