- (1.)PETITIONER-LAXMAN Reddy is seeking an order for quashing the order dt. 25-2-1999 in PCR No. 166/99 produced at Annexure D and is also seeking for various other reliefs.
(2.)PETITIONER is the proprietor of a small scale industries known as M/s. Laxmi Automates at Bangalore. He approached one Sri Venkatachar, manager of M/s. Dhanalaxmi Bank Ltd. Thereafter he approached the bank and he was sanctioned loan facility to the tune of Rs. 28,75,000/ -. The said loan is subject to repayment by monthly equal instalment with agreed rate of interest. The petitioner states that the bank filed a complaint before the CMM in PCR No. 166/99 for certain offences committed by the petitioner. A direction was issued to the police to investigate the matter. The police authorities seized certain materials in this regard. Annexure B is the private complaint filed by the bank.
(3.)PETITIONER approached the learned Sessions Judge seeking an anticipatory bail. The bail was granted with certain conditions. After obtaining the bail petitioner in this case is challenging the initiation of proceedings at the instance of the bank by the learned Magistrate. Petitioner has raised several grounds in support of his contention.