KANWALJIT SINGH AHLUIVALIA,J. - (1.) THE present petition has been filed under Section 438 Cr.P.C. for grant of pre-arrest bail to the petitioners in case arising out of FIR No. 120 dated 24.5.2011 registered at Police Station Division No.5, Ludhiana, under Sections 406 and 420 IPC.
(2.) COMPLAINANT -Aarti Puri, in the FIR, has stated that her son Nitin was allured by the accused to invest Rs. 50,00,000 in partnership for running a footwear showroom. Further that after receiving the said amount, the accused became reluctant to commence business and return the amount, so received. Lateron, they had issued a cheque of the amount received, which had bounced. Learned counsel further submits that for bouncing of the cheque, the complainant has filed a separate complaint under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as "the Act"). On 20.12.2011, a Co-ordinate Bench of this Court, had passed the following order:- "Counsel for the petitioners contended that complainant has already instituted complaint Annexure P-3 under Section 138 of the Negotiable Instruments Act against the petitioners and their other two co-accused, and there fore, instant FIR is not maintainable. It is also contended that cheques in question were not issued by the petitioners, but were issued by their co-accused. It is also contended that cheques were issued as security for committee transaction. It is also worth mentioning that according to the FIR, the complainant pooled the amount of Rs.50 lacs by borrowing some amount from her brother-in-law (amount not mentioned) and some amount by mortgaging her jewellery with bank (again amount not mentioned) and the remaining amount from her own resources. Learned State counsel, on instructions from HC Satish Kumar, stated that the complainant did not mortgage her jewellery with bank, but mortgaged it with some private financier. Adjourned to 28.02.2012. Meanwhile, the petitioners, if arrested, shall be released on interim bail, to the satisfaction of the Arresting Officer, subject to the conditions specified in Section 438(2) of the Code of Criminal Procedure. They shall join investigation as and when required by the police. Presently, the petitioners are directed to join investigation on 29.12.2011 at 10.00 A.M. and continue to do so as and when required by the police."
(3.) LEARNED counsel for the respondent, on instructions from Surinder Pal. Assistant Sub Inspector, submits that the petitioners have appeared before the Investigating Officer to join investigation, however, an amount of ' 50,00,000 is to be recovered from them.;