BIPINBHAI AMBALAL PATEL Vs. STATE OF GUJARAT

JUDGEMENT

(1.) By way of this application filed under'Section 482'of the Code of Criminal Procedure, the applicants have prayed to quash and set aside the First Information Report being C.R. No. I - 63 of 2019 registered with Gorwa Police Station for the offences punishable under'Sections 406,'420'and'114'of IPC and the consequential proceedings initiated pursuant thereto. The applicants herein are original accused Nos.1 to 3 in the complaint.

(2.) The facts in brief are that in the year 2005 the applicant Nos.1 and 2 herein approached the respondent - Bank for availing a Home Loan for purchasing a residential property. In pursuance thereof, the applicant Nos.1 and 2 executed relevant documents in favour of the respondent - Bank. The respondent - Bank sanctioned loan of Rs.11,79,000/- in favour of applicant Nos.1 and 2. It appears that while executing the Mortgage Deed, applicant Nos.3 and original accused No.4 in the complaint. herein stood as the Guarantors; however, subsequently, applicant No.4 passed away. Upon receipt of the loan amount, the applicant Nos.1 and 2 purchased the property vide sale deed dated 30.04.2005.

(3.) On 27.06.2019 the respondent - Bank filed the impugned complaint inter alia alleging that after purchasing the property, the applicant Nos.1 and 2 had not deposited the title documents of the property with the respondent - Bank nor did they pay the amount of Equated Monthly Installments towards repayment of the loan amount. It was also alleged that applicant Nos.1 and 2 had sold the property to a third party vide registered sale deed dated 16.06.2006 and thereafter, the property again changed hands vide registered sale deed dated 12.12.2006. Thus, it was alleged that the applicants had committed the offences punishable under'Section 406,'420'and'114'of IPC.