SACHIN DUTTA Vs. STATE

JUDGEMENT

(1.) By this petition, the petitioner seeks bail in case FIR No. 151/2015 under Sections 406/420/174A/120B Penal Code registered at PS EOW.

(2.) Case of the prosecution against the petitioner based on the complaint of Narendra Barmecha is that in the year 2011 on the inducement of the petitioner and his parents who were all partners of M/s Balaji Construction Narendra Barmecha joined the firm as a partner and started making investment therein as also in their newly incorporated company M/s Balaji Build Serve Pvt. Ltd. The accused persons had purchased several immovable properties at different points of time in the name of starting various real estate projects. On the inducement, the complainant also invested crores of rupees in the last four years but later realized that all the assurances were false and no projects as assured was launched. It is stated that the complainant made the investment to the tune of Rs.1.33 crores into M/s Balaji Constructions through his Axis Bank Account. Since the complainant felt cheated on 15th Oct., 2014, he expressed his desire to clear his accounts and retire from the partnership firm. Vide the retirement deed dated 3rd Nov., 2014 the complainant quit the firm and his accounts were settled for Rs.11.50 crores. It is alleged that to secure the interest of the complainant, it was agreed that till payment of the aforesaid amount was made four properties belonging to the firm would remain mortgaged with the complainant vide the letter dated 5th Nov., 2014 and an equitable mortgage was created by handing over the original title deeds of the four properties.

(3.) The grievance of the complainant is that despite the four original title deeds being in possession of the complainant the petitioner sold all four properties to Nathu Singh Tyagi and his son Pawan Tyagi on 11th March, 2015, 24th March, 2015 and 30th March, 2015 and also lodged one NCR on 15th March, 2015 claiming that the original documents of the properties have been lost though the NCR does not clarify which original documents were lost and only stated that papers of property situated in Indrapuram, Makanpur which he bought from Rishipal Tyagi, Yashpal Tyagi, Hareshwar Tyagi, Lalita and Smt. Prabha were lost.