ANIL KUMAR TULSIANI Vs. STATE OF U.P.

JUDGEMENT

(1.) Heard Shri Vidhu Bhushan Kalia, learned counsel for the applicant as well as Mr. Anirudha Kumar Singh, learned A.G.A. appearing for the State and perused the record.

(2.) Instant bail application has been filed on behalf of the applicant with a prayer to release the applicant on bail during the trial in FIR No. 0457 of 2019, under Ss. 409 and 420 IPC, Police Station - Vibhuti Khand, District - Lucknow.

(3.) Learned counsel appearing on behalf of the applicant submits that the applicant is innocent and he has been falsely implicated in the instant matter due to ulterior motive. He added that the instant matter is mainly a civil/commercial dispute and the complainant is trying to give it criminal colour. He further submitted that he is one of the Director of the company, namely, "Tulsiani Infra Developer Pvt. Ltd". He submits that in the year 2015, a Scheme was launched in the name of "Multistory Commercial Apartment" and thereafter a unit was agreed to be allotted to the present applicant. In view thereof, Rs.48,00,000.00were to be deposited by the applicant. He submits that as per the terms and conditions of the scheme, until and unless aforesaid unit was handed over, the Company was under obligation to pay the interest on the aforesaid amount. The amount of interest was being paid by the Company for sometime, but due to financial hardship, due to Pandemic 20202021, the Company could not pay the interest and thereafter the dispute arose. He added that with a view to settle the dispute, the cheques were also given to the informant. The bonafide act of the applicant shows that there was no criminal intent of the applicant to commit any cheat or fraud with the informant.