SANJAY OMPRAKASH SHARMA Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This petition is filed under Sec. 438 of Cr.P.C. praying this Court to enlarge the petitioner on bail in the event of his arrest in respect of Crime No. 797/2021 registered by Whitefield CEN Crime Police Station, Bengaluru City, for the offences punishable under Ss. 406 and 420 of IPC.

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

(3.) The factual matrix of the case of the prosecution is that the complainant is a builder. He was in need of money and in order to avail the finance, he contacted this petitioner and documentation was done in Delhi for getting an amount of Rs.125.00 Crores. It is also the case of the complainant that an amount of Rs.4,53,35,000.00 was paid in favour of different persons and even though collected the said amount, the petitioner did not make any arrangement of loan as agreed and the petitioner along with other persons cheated the complainant. It is also given the details of payment of Rs.31,25,000.00 transferred to M/s. Paras Enterprises in Kotak Mahindra Bank and also Rs.2.5 Crores towards the duty and registration fees for registering the loan agreement at Thailand and the same was transferred to the accounts of CCCL's Associates in India. An amount of Rs.60.00 lakhs to Ellora Enterprises having its account in IDBI Bank, Thakur Village, Kandivali, Mumbai Branch. Rs.60.00 lakhs to Astrid Trading Company having its account in IDBI Bank, Mumbai. Rs.65.00 lakhs to Ozone Traders having its account in IDBI Bank and the same is also at Mumbai Branch. Rs.65.00 lakhs to Vista Trading Company having its account in IDBI Bank, Mumbai Branch. Inspite of receipt of the amount, the petitioner did not arrange the loan as agreed and the amount which was paid was also drawn and committed fraud on the complainant and hence requested for taking action against this petitioner as well as other accused persons.