ANAND C.G. Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Heard learned Senior Counsel Sri C V Nagesh for petitioner and also learned HCGP for the State. Perused the records.

(2.) Respondent/police have registered a case in Crime No.145/2019 against the petitioner and others for the offence under Section 76 of Chit Funds Act and also under Sections 406, 420 read with Section 34 IPC. The Registrar of Co-operative Societies has lodged a complaint before the jurisdictional police i.e. respondent/police on the allegation that in the year 2016-17 the petitioner and others were running chit fund business on obtaining licence granted by the Assistant Registrar of Co-operative Societies, Bengaluru. They have collected lot of money from the customers under the chit business and they have not paid any amount to the customers and thereby they have cheated the customers at large. One Thimmegowda B Y and Raju K have been specifically mentioned as the Directors of the said Company and they appeared before the Registrar and they have accepted that they were due to their customers and they requested time to pay the said amount. Inspite of granting time by the Assistant Registrar of Co-operative Societies, they have not paid the said amount. Therefore, narrating the names of the customers who said to have been cheated by the accused persons, a complaint came to be lodged before the police for registration of the case under Sections 76 and 77 of the Chit Funds Act, 1982. Police have registered a case apart from the above said provisions, also incorporated the provisions under Sections 406, 420 IPC.

(3.) Through the learned counsel has raised several legal questions but presently, I do not want to discuss all those things because it shall prejudice either of the parties.