SANJAY KUMAR SINGH,J. - (1.) Heard Sri Dilip Kumar, learned Senior Advocate assisted by Sri Manu Khare, learned counsel for the applicant, learned Additional Government Advocate on behalf of the State of U.P. and Sri Imran Ullah, Advocate assisted by Sri Ajay Kumar Pandey, learned counsel appearing for the informant/Kotak Mahindra Bank Limited.
(2.) By means of this application, the applicant, who is involved in Case Crime No.622 of 2018, under Sections 406, 420, 467, 468, 471 and 120-B I.P.C., Police Station Link Road, District Ghaziabad, is seeking enlargement on bail during the trial.
(3.) Filtering out unnecessary details, basic facts as per prosecution case, which are relevant for the purpose of disposal of this bail application are that the dispute in this case is regarding property situated at C-51, Ramprastha Colony, Ghaziabad measuring about 355 square yards (herein-after-referred to as the "property in question"). In the year 1982, said property was purchased by Dr. R.K. Malhotra from one Balwant Singh through registered sale deed dated 04.09.1982. Thereafter, it was sold by Dr. R.K.Malhotra to Bhagwati Rustagi and Rashmi Rustagi through sale deed dated 16.12.1993. On 21.08.1995, Bhaghwati Rustagi and Rashmi Rustagi executed a general power of attorney in favour of Swarnlata Sharma, and thereafter, said property was again sold by Swarnlata Sharma in favour of one B.D.Sharma by executing a sale deed dated 23.04.1997. On 16.09.2005, B.D. Sharma executed a sale deed of same property in question in favour of co-accused Vikas Garg, Vinay Garg and Deepika Garg. Thereafter on 28.11.2007 Vikas Garg, Nidhi Garg (present applicant) W/o Vikas Garg, Vinay Garg and Deepika Garg have taken a total loan of Rs.1,65,80,000/- through loan account Nos. 14013241 and 14081767 (hereinafter referred to as the "first loan") on an interest of 11.5 % per annum from a Non-Banking Financial Company known as M/s Citi Financial Consumer Finance (India) Ltd. New Delhi, mentioning themselves to be the Directors of Tirupati Rice Mills Pvt. Ltd. While taking aforesaid loan, property in question (C-51, Ramprastha Colony, Ghaziabad) was mortgaged by Vikas Garg, Vinay Garg and Deepika Garg with a view to secure the repayment thereof, and borrowers were liable to pay aforesaid loan in 180 monthly installments of Rs.1,93,686/- and two home loan agreements were signed by them on 28.11.2007. Thereafter, installments of said loan were not paid by Vikas Garg, Nidhi Garg (present applicant), Vinay Garg and Deepika Garg, therefore, M/s Citi Financial Consumer Finance India Ltd. started arbitration proceedings against Vikas Garg, Nidhi Garg (present applicant), Vinay Garg, Deepika Garg, M/s Tirupati Rice Mills Pvt. Ltd, and M/s Shiv Kumar Agarwal, but they did not participate in arbitration proceedings and claim of M/s Citi Financial Consumer Finance India Ltd. was allowed by ex-parte deed of award dated 31.01.2009 directing that the respondents in arbitration proceedings will jointly and severely pay to the claimant a sum of Rs.1,78,40,626.14 only together with interest on the aforesaid amount at the rate of 18% per annum from 27.09.2008 till the date of realization. Here, it is relevant to mention as argued by Imran Ullah, learned counsel for the informant that Vikas Garg after taking aforesaid loan and mortgaging the property in question got another sale deed dated 24.06.2011 of the same property prepared fraudulently showing that the same has been executed in his favour by Dr. R.K. Malhotra, S/o D.S.Malhotra. Thereafter, the said property in question has been sold by Vikas Garg mentioning his name as Vikas Gopi Chand S/o Gopi Ishwar Chand to Udit Kumar Mittal and his wife, Neetu Mittal through a registered sale deed dated 02.01.2012 after receiving sale consideration of an amount Rs.1,66,00,000/-. It is pointed out that Udit Kumar Mittal and his wife Nitu Mittal had purchased the said property (C-51, Ramprastha Colony, Ghaziabad) after taking loan of Rs.1,42,000,00/- (hereinafter referred to as the "second loan") from Citi Bank and mortgaging the same property with City Bank also on 31.12.2011. Thereafter M/s Citi Financial Consumer Finance India Ltd. has sold/assigned the loan taken by Vijay Garg, Nidhi Garg (present applicant), Vinay Garg and Deepika Garg to Kotak Mahindra Bank Ltd. under the deed of assignment on 09.04.2013 executed between Citi Financial Consumer Finance India Limited and Kotak Mahindra Bank Ltd. As such, after 09.04.2013, Kotak Mahindra Bank Ltd. came into picture. On 10.01.2014, Kotak Mahindra Bank Ltd. has issued notices under Section 13(2) SARFAESI Act, 2002 to Vikas Garg, Nidhi Garg (present applicant), Vinay Garg, Deepika Garg, M/s Tirupati Rice Mills Pvt. Ltd. and M/s Shiv Kumar Agarwal for payment of aforesaid amount of loan (first loan), but said amount was not paid by them, therefore, Kotak Mahindra Bank Limited has started proceedings under Section 13(4) SARFAESI Act, 2002 for taking possession of the property in question, and accordingly, issued possession notice dated 16.07.2014 to Vikas Garg, Vinay Garg and Deepika Garg. On receiving the said possession notice dated 16.07.2014, same was challenged by Vikas Garg, Vinay Garg and Deepika Garg on 28.08.2014 before Debts Recovery Tribunal, Lucknow by means of application u/s 17 of SARFAESI Act, 2002 being S.A. No.393 of 2014. ;