- (1.)The present petition has been filed by the petitioners-accused Nos.1 and 2 under Section 438 of Cr.P.C. praying this Court to release them on anticipatory bail in the event of their arrest in Crime No.37/2018 of E and N Crime Police Station, Mangaluru City for the offences punishable under Sections 403, 405, 415, 420, 469 read with 34 of IPC.
(2.)I have heard the learned counsel for petitioners and the learned High Court Government Pleader for the respondent-State.
(3.)The genesis of the private complaint are that Syndicate bank filed a complaint alleging that the petitioners borrowed a loan for a sum of Rs.45,00,000/- to establish a firm by name S.V.Technologies in partnership and the said firm was carrying on the business relating to mobile apps, E-publishing and Software development, digitalization, conversion of hard copy books into soft copy and etc. Subsequently, they also availed O.D.Loan of Rs.20,00,000/-. On 22.02.2016, an additional loan of Rs.15,00,000/- was also obtained out of which, Rs.65,00,000/- short term loan and Rs.35,00,000/- along with O.D. Loan was availed by hypothecating stocks of the firm. It is further stated that subsequently it is noticed that the said documents were forged documents and the accused persons have also availed loan from different banks by producing the same documents by fabricating them. On the basis of the complaint, a case was registered in this behalf.