HILOOR MOHAMMED Vs. STATE OF KERALA, REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM

JUDGEMENT

(1.) Petitioner is the accused in Crime No.732 of 2012 of Venjarammoodu Police Station, registered for offences punishable under Sections 403, 406 and 420 r/w Section 34 I.P.C. The matter is now pending in C.C No.1296 of 2013 on the file of the Judicial First Class Magistrate Court - I, Nedumangad.

(2.) Prosecution allegation is that the petitioner availed a loan for Rs. 3,85,56,445/- from the 3rd respondent Bank after hypothecating stock in trade in a textile shop run by the petitioner. The petitioner defaulted payment of the amount. Hence, the Bank initiated proceedings under the SARFAESI Act. Advocate Commissioner appointed by the jurisdictional Chief Judicial Magistrate inspected and took possession of the articles. It is the allegation that the petitioner committed the aforementioned offences.

(3.) Heard the learned counsel for the petitioner and the learned Standing Counsel for the Bank. Learned Public Prosecutor is also heard.