TABREZ ULLA SHARIFF Vs. STATE

JUDGEMENT

(1.) The present petition has been filed by the petitioneraccused No.4 under Sec. 439 of Cr.P.C to release him on regular bail in Crime No.177/2018 of Jayanagar Police Station (Spl.C.C.No.105/2018) for the offences punishable under Sections 409, 420, 120(B) read with Sec. 34 of IPC, Sections 4, 5 and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and Sec. 9 of the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004.

(2.) I have heard the learned counsel for the petitioner and Sri Jagadeesha.B.N, learned Special Public Prosecutor for respondent-State.

(3.) The genesis of the case of the prosecution is that one D.T.Naveen Nanda filed a complaint alleging that M/s. Ajmeer Group Firm collected deposit of Rs.30.00 Crores from nearly 4000 customers with an intention to cheat the general public. Petitioner-accused No.4 and other two persons were partners and action may be taken in this behalf. On the basis of the complaint, a case has been registered.