ALPESHBHAI RAVJIBHAI MORADIYA Vs. STATE OF GUJARAT

JUDGEMENT

(1.) By way of the present application under section 438 of the Code of Criminal Procedure, 1973 (hereinafter referred to as 'the Code'), the applicants - accused have prayed to release them on anticipatory bail in case of their arrest in connection with the FIR registered at C.R. No.I - 54 of 2018 with Bortalav Police Station, Dist. Bhavnagar for the offences punishable under Sections 406, 409, 420, 465, 467 and 114 of the Indian Penal Code.

(2.) The short facts arise from the record are as under:-

(3.) That one Bhavdipbhai Arunkumar Dave, resident of Bhavnagar lodged the FIR against the present applicants who are real brothers and Directors of a Company, namely, Ayush Impex Private Limited alleging that the complainant came into contact with the applicants in the year 2013. They described themselves as businessmen and dealing in the business of diamonds. The applicants persuaded the complainant to invest in the applicants Company for which the complainant was offered a post of Director of the said Company. The complainant, on different occasions, helped the applicants to have diamonds worth Rs. 45 Lacs and thereafter, the complainant was made a Director in the Firm of the applicants. It is alleged that the accused persons were successful having created trust in them and, therefore, the complainant used to give blank cheques to the applicants. It was further alleged that since the accused were interested in developing the business, they intended to avail the loan from the Bank and accordingly, loan was availed from Kotak Mahindra Bank. Against the said loan, the property of the complainant was mortgaged with the Bank. It was alleged that when the complainant received a notice dated 20.4.2017 from the Bank under the provisions of The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) to pay an amount of Rs. 97,14,909/- and since the property of the complainant was mortgaged, the complainant himself started to pay the said loan amount to the Bank to save his properties. Though the applicants were asked to clarify the accounts with the Company, it was found that the applicants have misappropriated Rs. 93 Lacs and that too after forging certain documents including bogus resignation letters of the complainant as a Director of the Company. It is further alleged that the applicants have usurped the amount of Rs. 93 Lacs which belonged to the Company and the complainant is continuously paying the installments against the loan availed by the applicants though he has received any amount from the Company pursuant to the alleged offence committed by the applicants. Even the applicants took Car of the complainant by saying that they need to go to Mumbai for business purpose and thereafter did return the same and when the complainant asked about the same, it was told by the applicants that they have sold the Car and pocketed the money.