PRAKASH V. KARIA Vs. STATION HOUSE OFFICER

JUDGEMENT

(1.) Petitioners are seeking anticipatory bail in Crime No. 112 of 2012 registered by Vyalikaval Police, Bangalore City, for an offence punishable under Sections 409 and 420 read with Section 34 of Indian Penal Code, 1860. Allegation against the petitioners is that, the petitioners have borrowed money from second respondent and as on June 2011, there was outstanding loan of Rs. 1,31,90,000/-. The machineries were hypothecated to the Bank, however, the Bank noticed that the machineries are shifted and as such, Bank has alleged that the accused with intention to cheat the Bank, they have shifted the machineries.

(2.) Learned Counsel appearing for the petitioners submits that, the machineries are installed in the same place and notice has been issued to the Bank. Further submits that, he had already deposited about Rs. 5 lakhs and there is a collateral security worth of Rs. 1 crore. As far as the allegation of shifting of machineries is concerned, now learned Counsel for the petitioners submits that, the machineries are installed in the same place. If that is so, the petitioners could be granted anticipatory bail, however, in case the Bank finds that the machineries are missing, the Bank is given liberty to seek for cancellation of anticipatory bail.