(1.) Since, these two petitions are in respect of the same crime number and common questions of law and facts are involved in both the petitions, they have been taken up together to dispose of them by this common order.
(2.) These petitions are filed by the petitioners under Section 438 of the Criminal Procedure Code seeking anticipatory bail, to direct the respondent Police to release the petitioners on bail in the event of their arrest for the alleged offences punishable under Sections 120-B, 406, 408, 409, 420 of the Indian Penal Code and also Section 9 of the Karnataka Protection of Interest Depositors in Financial Establishment Act 2004, registered in respondent/Police Station Crime No. 137/2017.
(3.) Brief facts of the prosecution case as per the complaint averments, that one Shambuling Madev Hangal filed the complaint before the Kalaghatagi Police station alleging that the accused No. 1 along with other accused has been running an office by name Harsha Entertainment and by saying that they would double the amount, were collecting the money from the public. Accused Nos. 2 to 3 are the brothers of accused No. 1 and accused Nos. 2 to 6 are associated with accused No. 1 to 3 and accused Nos. 7 and 8 are the Directors of the said Sahakari Bank and all the accused criminally conspired themselves and have collected the amount to the tune of Rs.27,00,000/- and promise to pay with interest at 7% and paid interest for some days. Thereafter on 10.04.2017 at 10.00 p.m., the accused No. 1 with accused Nos. 2 and 3 fled away with the complainants money. On the basis of the said complaint case came to be registered for the said offences.