SANJAY N. Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) The petitioner has filed this petition under Sec. 439 of Cr.P.C. for enlarging him on bail in Crime No.15/2024 of Nazarabad Police Station, Mysuru District, registered for the offences under Ss. 406 and 420 of IPC and Sec. 21(3) of the Banning of Unregulated Deposit Schemes Act, 2019 ('BURDS Act' for short) pending on the file of the Principal District and Sessions Judge, Mysuru.

(2.) Heard the learned counsel for the petitioner/accused and the learned HCGP for the respondent-State.

(3.) As per the case of the prosecution, the complainant has set the law in motion by lodging the complaint alleging that, the petitioner/accused was carrying business in the name and style of Sri. Satya Home Products and Smt. Bharathi Nanjegowda Prathistana Charitable Trust (Regd.). It is alleged that, petitioner has formed several schemes in order to attract public at large with offer of giving higher returns in the form of gold, home utensils etc.. Believing the assurance of the petitioner that he will give 35" Samsung T.V. with 3 grams gold, the complainant has invested Rs.20,000.00 on 2/5/2022 and further the complainant has also deposited Rs.2,000.00 in the name of her mother on 14/5/2022, then the petitioner has assured her that he would provide her a Mysuru Silk Saree after one year. It is alleged that, again on 14/5/2022, the complainant has deposited Rs.10,800.00 in her name as well as in the name of her mother and she was assured by the petitioner that, after one year 200 grams gold will be given. It is also alleged that, once again the complainant has deposited a sum of Rs.1,200.00 and the assurance of supply of groceries was given by the petitioner. It is alleged that, the complainant and her mother have totally deposited a sum of Rs.44,800.00 in the schemes floated by the petitioner. But, after completion of one year, the petitioner has neither paid the amount nor gave any articles as assured by him and even he did not refund the amount invested by the complainant. Initially the petitioner went on postponing the same, but subsequently he turned up and then it is revealed to the complainant that in a similar way, he has cheated may number of other people also. Hence, the complainant has lodged a complaint with Nazarabad Police Station and on the basis of the complaint, this crime came to be registered. The complaint was lodged on 24/1/2024 and it is asserted that the petitioner was arrested on 28/2/2024, and after arrest, the petitioner was produced before the learned Magistrate and he was remanded to judicial custody. Then petitioner has approached the learned Sessions Judge seeking regular bail and his bail petition came to be rejected. Hence, he is before this Court.