CANARA BANK Vs. STATE

JUDGEMENT

(1.) Prayer in this petition filed under S. 482 of the Code of Criminal Procedure is for setting aside the orders dated 12-2-2004 (Annexure P-4) and 16-7-2004 (Annexure P-6) passed by learned Sub-Divisional Judicial Magistrate, Baba Bakala and the learned Additional Sessions Judge, Amritsar, declining permission to the petitioner bank to sell the tractor in dispute, which tractor has been entrusted to the bank, pursuant to an order passed under S. 451 of the Cr. P. C.

(2.) A brief factual narrative of the facts would be appropriate.

(3.) The petitioner, namely Canara Bank, a Nationalized Bank, granted a loan of Rs. 3,90,000/- to one Lakhwinder Singh son of Karnail Singh, for the purchase of a tractor. Subsequently, it was discovered that security for the loan, namely the revenue record, was fabricated. Consequently, an FIR No. 8 dated 9-1-2004 under Sections 420, 466, 467, 468, 469, 471 and 120-B of the Indian Penal Code was registered at Police Station Beas, District Majithia. During the course of investigation, the tractor, Solenika-750, financed by the Bank was seized by the police. An application, filed by Bank for release of the tractor on sapurdari, was allowed by the Sub-Divisional Judicial Magistrate, Baba Bakala vide order dated 5-2-2004, holding therein that the bank was the true owner of the tractor. While releasing the tractor on sapurdari, the bank was required to furnish one surety in the sum of Rs. 6,00,000/- and also file an undertaking that it would not alter its identification marks, name plate etc. and would not dispose of the said vehicle, without the prior permission of the Court. The operative part of the order reads as follows :-