JABARARAM TALSAJI PUROHIT Vs. STATE OF GUJARAT

JUDGEMENT

(1.) Apprehending arrest, the applicant herein seeks pre-arrest bail in connection with the FIR being C.R.No.11191040203297 of 2020 registered with Sardarnagar Police Station, Ahmedabad, for the offence punishable under Ss. 406 , 420 and 114 of the Indian Penal Code (" IPC " for short).

(2.) Facts and circumstances giving rise to file present application is that, the present applicant along with his partner Kishankumar Talsaji Purohit availed MSME loan of Rs.1.90 crore from Central Bank of India, Ahmedabad, in form of term loan as well as cash credit of/over draft facility, which duly sanctioned by the bank vide its office order dtd. 3/11/2016. The applicant and his brother Kishankumar Purohit executed partnership deed dtd. 23/9/2016 duly registered with the Sub-Registrar Office, Ahmedabad. The name of the partnership firm is M/s. Heer Metal Corporation and the business was to manufacture of steel etc. Before sanctioning the loan, one immovable property referred in the FIR was mortgaged by partner Kishankumar and both the partners have submitted quotations and bills of machineries to be purchased from three parties as hypothecation to the bank and after completion of the procedure, the loan being sanctioned and the amount of term loan was credited in the account of partnership firm jointly operated by both the partners and also they availed cash credit facility.

(3.) The applicant herein preferred anticipatory bail application before the Sessions Court, Ahmedabad, which came to be rejected vide order dtd. 8/10/2020.