M. BASAVANNA Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) The appellants are the Accused Nos.2 and 3, are before this Court under Sec. 16 of Karnataka Protection of Interest of Depositors in Financial Establishment Act, 2004 (for short 'the Act, 2004') seeking grant of bail for the offences punishable under Ss. 114, 403, 406 and 420 of IPC and Sec. 9 of the Act, 2004 in Crime No.139/2022 of Nanjanagudu Town Police Station.

(2.) Brief facts of the case are that: Shambhulingu M. was a school teacher. He had obtained a licence for conducting the chit fund business in the name of 'Mahadeshwara Enterprises' in Devirammanahally Village of Nanjangudu Taluk. Accused No.1 Smt. Dakshayini is the daughter of appellant No.1 and sister of appellant No.2 and wife of Mr.Shambhulingu. The complainant Mr.Siddalingappa has joined the Rs.5.00lakh amount chit in the month of April, 2022, paid a sum of Rs.60,000.00 till October, 2022 through cheque and Rs.10,000.00 in cash. On 3/11/2022 Mr.Shambhulingu was died by committing suicide. Complainant approached accused Nos.1 to 3 on the very day demanding repayment of Rs.70,000.00. He was promised to repay on completion of obsequies ceremonies, but they did not repay. There are several complaints being registered in Crime Nos.130, 131, 133 to 139 of 2022 of Nanjangudu Town Police Station alleging that the depositors have been cheated by accused No.1 and her husband. It is also alleged that money siphoned off by accused No.1 and her husband was invested for acquiring immovable properties in the name of appellant No.1 and for this reason he has been arrayed as accused No.2 and his son i.e. appellant No.2 has been arrayed as accused No.3.

(3.) Before the Principal District and Sessions Judge, Mysuru, appellants have sought for grant of anticipatory bail in Crl.Misc.No.131/2023. By order dtd. 3/3/2023, the learned Sessions Judge has dismissed the application filed by the appellants under Sec. 438 of Cr.P.C. Aggrieved by the said order of dismissal, the appellants are before this Court on various grounds.