NILESH Vs. STATE OF MADHYA PRADESH

JUDGEMENT

(1.) This is applicant's first application under Sec. 438 of Criminal Procedure Code, 1973 for grant of anticipatory bail, as he is apprehending his arrest in connection with Crime No.07/2023 registered at Police Station Economic Offences Bureau/ Wing Indore (M.P.) for offence punishable under Sec. 420, 409, 120-B the Indian Penal Code, 1860.

(2.) The allegations against the applicant is of defalcation of Rs.1.00 Crores 90 Lacs.

(3.) Applicant-Nilesh Khandelwal submits that he has been falsely implicated in the case and it was merely a banking transaction regarding which the bank has already filed an application O.A.No. 802/2020 before Debts Recovery Tribunal, Jabalpur and no allegations or defalcation have been made in this application. He has also submitted that he has not been able to repay the loan received from the Bank but for that an offence under Ss. 420, 409 of IPC cannot be said to be made out.