BIPINBHAI AMBALAL PATEL Vs. STATE OF GUJARAT

JUDGEMENT

(1.) Heard the learned advocates for the respective parties through video conferencing.

(2.) By way of the present application filed under Section 438 of the Code of Criminal Procedure, 1973, the applicants-accused have prayed for bail in connection with the F.I.R. being C.R. No.I-63 of 2019 registered with Gorwa Police Station, Dist.Vadodara for the offences under Sections 406, 420 and 114 of the Indian Penal Code, 1860 (IPC).

(3.) The brief facts of the prosecution mentioned in the application are that on 27.06.2019 the first informant i.e. the Branch Manager, State Bank of India, Race Course Branch, Vadodara lodged the FIR against the applicants alleging that the applicant Nos.1 and 2 had approached the Bank manager, C.G.Sawant in the year 2005 to obtain a Home Loan for duplex No.3, having area 1,240 sq.ft. in Janki Duplex Scheme bearing Revenue Survey No.58, Town Planning Scheme No.60, Final Plot No.55, situated at Gotri, Vadodara and after following due process and formalities the loan of Rs.11,79,000/- was sanctioned on 28.04.2005 and Memorandum of Loan Agreement, Deed of Undertaking, Agreement of Mortgage and affidavits were executed and applicant No.3 was one of the guarantors therein. The applicant Nos.1 and 2 purchased the said bungalow and according to the conditions of the agreement they were supposed to hand over the original sale deed, registration receipts and Index-2 to the bank but they did not provide the documents and also they did not pay any installments of the loan. It is further alleged that according to the rules, the bank issued notices on the applicants but the applicant Nos.1 and 2 did not pay-off the loan and, therefore, the bank inqured at the address, on which the loan was sanctioned and came to know that the applicants, in connivance with each other, transferred the said bungalow to one Mr.Vishal and thereafter it was transferred to Mr.Vinod J. Patel by a registered sale deed. Hence, the present FIR has been registered against the applicants and another.