KABC010084952024 IN THE COURT OF THE PRINCIPAL CITY CIVIL AND SESSIONS JUDGE, AT BENGALURU Dated this the 14th day of May, 2024 Present: Shri Muralidhara Pai B. B.Com., LL.B. Principal City Civil and Sessions Judge, Bengaluru. Crl. Misc. No. 3003/2024 Petitioner : Smt. Nagavalli, W/o. Rajesh V.R., Aged about 45 years, No. 267, Shiva Shakti Arcade, 1st Floor, Vijaya Bank Layout, Bannerghatta Road, Near Ayyappa Swamy Temple, Bilekahalli, Bengaluru – 76. (By Sri M.K. Kempegowda, Adv.,) Vs. Respondent : The State of Karnataka, by Hanumanthanagar Police Station, Bengaluru. [Rep. by Sri B.S.Patil, Special Public Prosecutor]

ORDER

This is a petition under Section 438 of Criminal Procedure Code praying for a direction to the Respondent Crl.Misc.No. 3003/2024 Police to release the Petitioner on bail in the event of her arrest in Crime No.288/2022 of Hanumanthanagar Police Station, in the interest of justice and equity.

2. The prosecution has filed objection to this petition

along with the report of the Investigating Officer.

3. Heard learned Counsel for Petitioner and learned

Special Public Prosecutor.

4. The following points would arise for the

consideration of this Court:

1. Whether the Petitioner is entitled for anticipatory bail?

2. What Order?

5. The findings of this Court on the above points are

under: Point No.1:- In the Negative; Point No.2:- As per final order; for the following:

REASONS

6. Point No.1: Hanumanatha Nagar Police had

registered a case in Crime No. 288/2022 against one Crl.Misc.No. 3003/2024 Krishnamurthy & others for the offenses punishable under Sections 409, 415, 417, 419, 420, 465, 468, 470, 471, 477A, r/w.S.149 of IPC, Section 9 of Karnataka Protection of Interest of Depositors in Financial Establishment Act 2004 and Section 21 of Banning of Unregulated Deposit Schemes Act, 2019, based on a complaint lodged by one Sri Sharagowda G.Patil. The matter is still under investigation.

7. The Petitioner, who is Accused No.23 in the case,

has maintained this petition praying for anticipatory bail in the case on the ground that she is innocent of the alleged offenses and that she has not committed any offense. She has stated that she was neither directly nor indirectly involved in alleged illegal activity and that she is willing to abide by any term or condition that may be imposed by the Court. As such she has prayed to allow the petition.

8. In the complaint it is alleged that the Petitioner

herein has committed fraud and cheating by not repaying the loan borrowed from New Friends Multi-Purpose Souharda Co- Operative Society and that she is one of the willful defaulters Crl.Misc.No. 3003/2024 of the Society. In their objection the prosecution has stated that the Petitioner herein is the wife of Accused No.22 and that Accused Nos.22 and 23 are due a sum of Rs.96,50,705/- and Rs.1,15,97,075/- respectively to the Society. It is alleged that the borrowers of the Society have managed to borrow huge amount from the Society by colluding with the Chairman and Directors of the Society and without furnishing proper security for the amount borrowed.

9. The contents of the bail petition make it clear that

the Petitioner has not whispered anything about loan borrowed by her from the Society or the amount due by her to the Society as on this day. Thereby the Petitioner has failed to specifically deny the allegations made against her in the complaint. On the other hand, she has claimed that she is not doing any illegal transaction and that she has returned FD amount to the depositors within time. The Petitioner has not come up with details of her transactions or produced any document before the Court in support of her above contention. Crl.Misc.No. 3003/2024

10. The case papers prima-facie indicate that it is a

multi-crore fraud committed in New Friends Multi-Purpose Co-Operative Society, wherein fraud and cheating has been committed on the investors by lending money to some major beneficiaries without following due procedures and by obtaining necessary documents and security. As already pointed out, the case is still under investigation. The materials on record indicate prima-facie and reasonable ground to believe the accusation made against the accused persons including the Petitioner herein. In the said circumstances, this Court opines that granting of anticipatory bail to the Petitioner at this stage of the proceeding is likely to prejudice the prosecution apart from hampering further investigation in the case. As such this Court holds that the Petitioner has not made out valid ground to allow the petition. Accordingly, Point No.1 is answered in the negative.

11. Point No.2 : In the result, this Court proceeds to

pass the following: Crl.Misc.No. 3003/2024

ORDER

The petition filed under Section 438 of Criminal Procedure Code is dismissed. (Dictated to the Stenographer Grade-II directly on the computer, typed by her, then corrected and pronounced by me in the Open Court on this the 14th day of May, 2024). (Muralidhara Pai B.) Principal City Civil & Sessions Judge, Bengaluru.