RAM KUMAR GARG Vs. U.T. CHANDIGARH

JUDGEMENT

(1.) Petitioner claiming himself to be the proprietor of M/s. Laxmi Oil and Soaps Ltd., and projecting himself to be Director of M/s. Accord Cotsyn Limited, under debt, undertook to pledge as security plot No.5 Industrial Area, Phase-l, Chandigarh, in favour of the complainant, but later on shifted the stand that he was partner and duped the complainant of more than Rs.6 crores which is a licensed money lender registered with R.B.I. A sum of Rs. 2.5 crores was released as loan to the petitioner by the complainant for payment of debts of M/s. Accords Costyn Limited to Bank of Baroda and in terms of tripartite agreement dated 27.11.2007, first charge of complainant was to be created for repayment of loan of Rs. 6 crores. The cheques issued for repayment and discharge of liability were also dishonoured. The petitioner's intention to cheat from beginning of the transactions and the act of persuasion of the complainant to part with money on false premises is sufficient to prima facie attract the ingredients under Section 420 IPC. The petitioner seeking to evade his liability and raising a plea of matter being of civil liability, claimed pre-arrest bail.

(2.) Petitioner had been granted the concession of pre-arrest bail vide order dated 13.8.2013, by a Co-ordinate Bench of this Court by making following observations.

(3.) The complainant aggrieved by the said observations had approached Hon'ble the Apex Court. Hon'ble the Apex Court had set aside the order dated 13.8.2013 and remanded the matter back to this Court to decide the case independently without deciding the merits of the main case after issuing notice to the concerned parties including the complainant uninfluenced by the order passed by Hon'ble the Apex Court.