RAMESH Vs. STATE BY KARNATAKA

JUDGEMENT

(1.) The petitioner - accused No.1 is before this Court seeking grant of bail under Sec. 439 of Cr.P.C. in Crime No.24/2022 of Subramanyapura Police Station, Bengaluru, pending on the file of Principal City Civil and Sessions Judge, Bangalore, registered for the offences punishable under Sec. 21 of the Banning of Unregulated Deposit Schemes, Act, 2019 r/w Ss. 34, 420 and 417 of the Indian Penal Code (for short 'IPC'), on the basis of the first information lodged by the informant - Naveen P.V.

(2.) Heard Sri.H.N.Venkatesh, learned Counsel for the petitioner and Sri.Rahul Rai, learned High Court Government Pleader for the respondent -State. Perused the materials on record.

(3.) Learned Counsel for the petitioner submitted that the petitioner is arrayed as accused No.1. He is innocent and has not committed any offences as alleged. He has been falsely implicated in the matter without any basis. He was apprehended on 13/12/2022 and since then he is in judicial custody. The informant has lodged the first information making false allegations against the petitioner that he was doing centring and bar bending work. The informant states that he has given money to the wife of the petitioner and executed the loan agreement. He also states that the wife of the petitioner has issued several cheques for repayment of the amount, but those cheques were dishonoured. The informant has not taken recourse to lodge the complaint for dishonour of the cheques. On the other hand, this complaint is filed invoking the provisions of the Banning of Unregulated Deposit Schemes Act and IPC. Accused Nos. 2 and 3 were never summoned by the Investigating Officer. There are absolutely nothing on record to invoke the provisions of the Special Enactment. The petitioner is the permanent resident of the address mentioned in the cause title to the petition and is ready and willing to abide by any of the conditions that would be imposed by this Court. Hence, he prays to allow the petition.