Phool Singh and Another vs Union Territory of Chandigarh and Another

Tejinder Singh Dhindsa, J.—This order shall dispose of the present petition filed u/s 438 Cr.P.C. seeking the concession of anticipatory bail to the petitioners in FIR No. 494, dated 28.08.2013 for offence under sections 420 IPC, registered at Police Station Sec- 34, Chandigarh.

Counsel for the parties have been heard.

The case was registered on the complaint filed on behalf of Punjab National Bank Branch Sec-33, Chandigarh alleging that the present petitioners had approached the Bank seeking a house loan of Rs. 15 lacs. The same was sanctioned in favour of both the petitioners on 09.11.2006 for purchase of a semi built house as also for construction there upon and the loan amount was repayable in the shape of 216 EMIs of Rs. 13935/- each.

However, to secure such loan equitable mortgage was created on the property.

Primary allegations against the petitioners are that without even satisfying the debt, the property in question on which a mortgage had been created in favour of the bank was disposed of without taking permission from the bank.

On 25.03.2014, when this petition came up for preliminary hearing, notice of motion was issued and an undertaking of the counsel appearing for the petitioners was recorded that he would furnish a demand draft for a sum of Rs. 2 lacs in favour of the bank prior to 11.04.2014.

Thereafter, on 11.04.2014 counsel prayed for some more time and accordingly hearing of the petition was deferred to 02.05.2014 upon recording yet another undertaking that a demand draft of Rs. 3 lacs would be produced.

On 02.05.2014 counsel for the petitioners prayed for a weeks time more to produce the draft of Rs. 3 lacs.

Thereafter on 12.05.2014 the following order was passed by this Court:

Learned counsel for the petitioners would undertake that a demand draft for a sum of Rs. 2 lacs would be deposited in the loan account of the present petitioners during the course of the day itself Counsel further undertakes that an additional amount of Rs. 2 lacs would also be deposited in the loan account on or before the adjourned date.

List on 30.05.2014.

The petitioners are directed to join investigation and to appear before the I.O. on 19.05.2014 at 10:00 A.M.

In the event of arrest, the petitioners shall be released on interim bail subject to the satisfaction of the Arresting Officer/Investigating Officer. The petitioner shall join investigation as and when called upon to do so and they shall remain bound by the conditions envisaged u/s 438(2) Cr.P.C..

Counsel appearing for the petitioners would today express his inability as regards the deposit of the amount in the loan account of the petitioners.

The conduct of the petitioners as has been noticed hereinabove clearly disentitles them to be extraordinary and discretionary relief of anticipatory bail.

The present petition u/s 438 Cr.P.C. is accordingly dismissed.