PAPPU SINGH Vs. STATE OF BIHAR

JUDGEMENT

(1.) Heard learned counsel for the petitioner, learned counsel for the State and learned counsel for the Bihar Gramin Bank.

(2.) This writ petition has been filed by the petitioner for quashing the FIR of Lakhisarai (Kabaiya) P.S. Case No. 362 of 2016 registered under Section 406 of the Indian Penal Code (for short 'IPC').

(3.) Initially a complaint petition vide Complain Case No. 64 C of 2016 was filed by the respondent no. 6 Shailendra Kumar, Senior Branch Manager, Bihar Gramin Bank on 12.01.2016 against the petitioner for the offence committed under Section 406 of the IPC in which it has been stated that on 05.04.2013 the petitioner had taken loan of Rs. 18,00,000/- for purchasing a truck from Bihar Gramin Bank, Lakhisarai Branch vide A/c No. 31010610003773. Prior to taking the said loan, an agreement was entered into between the parties in which the petitioner had agreed to repay the loan amount within sixty months with interest. After taking loan the petitioner purchased a truck, which was indemnified by an insurance policy purchased from the Bajaj Allianz Insurance Company, Bhagalpur Branch. Since the petitioner failed to repay the installment of the loan, the interest increased. Despite a notice given to the petitioner on 21.03.2014, he failed to repay the loan amount. Again, on 27.09.2014, a legal notice was sent to him, but he failed to liquidate the loan amount.