SANDEEP Vs. STATE OF M.P.

JUDGEMENT

(1.) This is second application filed by applicant Sandeep under Section 438 of the Cr.P.C. for grant of anticipatory bail. The applicant Sandeep apprehends his arrest in connection with Crime No.67/2018 registered at Police Station Moghat Road, District Khandwa (M.P.) for the offence punishable under Sections 406 , 420 of the IPC.

(2.) The first application of the applicant was dismissed as withdrawn by this Court vide order dated 21.11.2019 passed in M.Cr.C.No.41656/2019 with the liberty to file afresh after some time.

(3.) As per prosecution case, applicant Sandeep Gupta and co-accused Rama Devi Gupta, Director of M/s Khandwa Industry Private Limited took CC limit of Rupees Four Hundred Lakhs from Punjab National Bank by mortgaging their goods (1200 cotton bales & 5700 cotton seeds bags). Those goods were kept by them in the godown, which was owned by Smt. Ruchita Gupta W/o applicant Sandeep and taken by the applicant on lease. On the basis of said stored goods they got CC limit of Rupees Four Hundred Lakhs from Punjab National Bank. For that, they gave their godown on sub-lease to L.T.C. Commercial Company Private Limited, Khandwa and executed an agreement in this regard on 07/04/2016. L.T.C. Commercial Company Private Limited issued a receipt regarding the goods stored in the godown and on the basis of said receipt Punjab National Bank gave loan to the applicant. Co-accused Shailendra Sonkar was Collateral Manager of L.T.C. Commercial Company Private Limited and was in charge of the godown in which those goods were kept by the applicant. When applicant and co- accused Rama Devi Gupta did not repay the loan amount, the bank auctioned the goods (cotton bales & cotton seeds bags) which were pledged by them. At that time it was found that applicant Sandeep Gupta and Co- accused Rama Devi Gupta after taking a loan from the Bank in connivance with the co-accused took out total 340 cotton bales from the godown, which was mortgaged by them against the loan amount. Thus, applicant and co- accused persons committed fraud with the Bank and caused loss to the tune of Rs. 80 Lakhs to the Bank. Therefore, Chief Manager of the Bank lodged a written report at Police Station Moghat Road, Khandwa. On that report, after inquiry Police registered Crime No.67/2018 at Police Station Moghat Road Khandwa, District Khandwa (M.P.) for the offences punishable under Sections 406 , 420 of the IPC and investigated the matter. During the investigation, it was found that the applicant had made an iron angle structure in the warehouse, which covered the space of the godown due to which the entire warehouse seemed full of cotton bales from the outside and applicant and co-accused obtained the receipt of all 1200 Cotton bales by only keeping the 860 Cotton bales by playing fraud.