RAJ KUMAR Vs. STATE OF PUNJAB

JUDGEMENT

(1.) This is the first petition under Sec. 438 of Cr.P.C. for grant of anticipatory bail to the petitioner in case FIR No.237 dtd. 12/10/2021, under Ss. 420 and 406 IPC, registered at Police Station City Rajpura, District Patiala.

(2.) Learned counsel for the petitioner has submitted that the petitioner runs a firm under the name and style of National/Sales Corporation, which is a super stockist of confectionery items and the complainant is a well known financier and because, the petitioner was in need of finances, he had approached the complainant for taking a loan. It is further submitted that the petitioner took a loan of Rs.5.50 lakhs from the complainant against which, as security, the complainant made the petitioner sign blank stamp papers and cheques with the assurance that they would be returned once the loan amount is repaid. It is also submitted that the complainant misused the said signatures obtained on blank stamp paper and cheques and prepared an agreement to sell dtd. 3/10/2019 with respect to the sale of the residential property of the petitioner for an amount of Rs.20.00 lakhs although, the loan taken by the petitioner was for an amount of Rs.5.50 lakhs. It is submitted that the petitioner never executed any agreement to sell with respect to a residential property and the said property is valued at Rs.58.20 lakhs and thus, the question of selling it for an amount of Rs.20.00 lakhs does not arise. It is further submitted that at any rate, the present dispute is a civil dispute, which is being given a criminal colour and that although, as per the said alleged agreement to sell the last date was 30/9/2020, but the present FIR has been registered on 12/10/2021 i.e., after a delay of one year from the alleged last date. It is argued that since the petitioner was not aware about the said agreement to sell, thus, he had taken other loans as he was in dire need of money. Learned counsel for the petitioner has submitted that the complainant has now filed a suit for specific performance, which is pending adjudication and all the pleas which have been raised, would be raised by the petitioner before the civil suit. Learned counsel for the petitioner has further submitted that the petitioner has joined the investigation and since the entire case is based on documentary evidence, thus, the custodial interrogation of the petitioner is not required. Learned counsel for the petitioner also submitted that the petitioner was even ready to pay an amount of Rs.6.00 lakhs without admitting the allegations in the FIR with the sole purpose of settling the dispute, but however, the same was rejected by the learned counsel for the petitioner on the ground that the complainant has already filed a civil suit seeking specific performance of the agreement to sell and the said fact was noticed in the order dtd. 15/12/2021.

(3.) Learned State counsel, on instructions from ASI Lakhwinder Singh, has submitted that the petitioner has joined the investigation and is not required for further investigation.