M.R. GIRISH Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) The 2nd respondent filed a private complaint alleging that he and his brothers are owners of the subject property and a charge was created on the said subject property for securing the loan and in order to clear the loan, the accused Nos.1 and 6 came forward stating that they would clear the loan if they were paid Rs.5.00 lakh towards commission and they would secure the loan on the subject property from another bank and accordingly entered into an agreement and mortgaged the subject property with the Rajajinagar Cooperative Bank for a period of fifteen years and obtained the loan with the Rajajinagar Cooperative Bank and cleared the loan within the time specified. Thereafter, accused no.1 and 6 mortgaged the subject property with the Karnataka Bank on the basis of the nominal sale deed alleged to have been executed by the 2nd respondent and his brothers in favour of the accused Nos.1 for the purpose of raising loan from Rajajinagar Cooperative Bank. The accused no.1,2,3,4,and 6 in connivance with the other staff of the Karnataka Bank, created the sale certificate in respect of the subject property in favour of accused No.2. The learned Magistrate referred the complaint to the police for investigation under Sec. 156(3) of Cr.PC. The police have registered the case for the offences punishable under Ss. 406 , 420 , 443 , 120B and 34 of IPC. Taking exception to the same, the accused Nos.4 and 5 are before this Court.

(2.) Sri B L Acharya, learned Senior counsel appearing for the petitioners' counsel submits as follows:

(3.) The learned High Court Government Pleader appearing for the respondent No.1 - State submits that the allegation made in the complaint discloses the commission of offence alleged against the petitioners - accused No.4 and 5 herein and the veracity of the allegation requires to be investigated and at this stage, the registration of FIR does not warrant any interference and sought for dismissal of the petition.