(1.) This petition is filed by accused Nos.3 and 4 under Section 439 of the Cr.P.C, seeking their release on bail in Crime No.165/2017 registered by the respondent-police for the offence punishable under Section. 489(B) of the IPC.
(2.) The case of the prosecution is that the police inspector of Kote Police Station registered a suo motu case against accused No.1 alleging that on 11.10.2017 at about 8.00 a.m, he received a credible information that at APMC Market accused No.1 trying to exchange two thousand denomination notes and in exchange of one note of two thousand rupees, he is offering two notes of two thousand rupees denomination. Accordingly, he had been to APMC market and apprehended accused No.1. On the basis of the statement made by accused No.1, a case is registered against the accused persons.
(3.) Heard the arguments of the learned counsel for the petitioners and also the learned H.C.G.P, appearing for the respondent-State.