NAMAN FINLEASE PRIVATE LIMITED Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) The petitioner is before this Court calling in question order dtd. 9/6/2023 passed by the I Additional Chief Metropolitan Magistrate, Bengaluru in Crime No.289 of 2023 and has sought a consequential direction to defreeze petitioner's Bank account.

(2.) Heard Sri Sameer Sharma, learned counsel appearing for the petitioner and Sri Mahesh Shetty, learned High Court Government Pleader appearing for respondent No.1.

(3.) Facts, in brief, germane are as follows:- The petitioner claims to be a Non-deposit, Non-banking Financial Company ('NBFC') ('the Company' for short) registered with the Reserve Bank of India. It is engaged in finance-lending space for many years and registered under the Companies Act, 1956. The 2nd respondent/complainant approaches the petitioner for availing loan for certain financial needs and loan is disbursed through the app 'Loanwalle' which is the creation of the petitioner. The 2nd respondent submits all necessary documents and pursuant to which, he is sanctioned loan of Rs.25,000.00 at 1% interest per day with the last date of repayment being 3/1/2023. The loan is sanctioned on 30/11/2022.