Tejinder Singh Dhindsa, J. - (1.) THIS order shall dispose of the present petition filed under Section 439 Cr.P.C. praying for the grant of regular bail to the petitioner in case F.I.R. No. 405 dated 10.10.2012 under sections 420, 406, 409, 467, 468, 471, 120 -B I.P.C., registered at Police Station, Mujessar, District Faridabad.
(2.) LEARNED counsel for the parties have been heard at length. The present case was registered on the basis of a letter written by the Managing Director of the Haryana State Industrial Infrastructure Development Corporation against the present petitioners, who were stated to be promoters of M/s. Super Fibres Ltd. and M/s. Rexor India Ltd., Faridabad. It was alleged that a number of cheques issued by the promoters were dishonored. That apart, the aforesaid two companies had availed term loans aggregating to Rs. 3686.27 lacs from the Corporation for expansion of their projects in plot no. 99, Sector 24, Faridabad and plot no. 57, Industrial Area, NIT, Faridabad. It was further alleged that these term loans were secured by way of a Pari -Passu charge of the Corporation on the land/building as also exclusive charge of the Corporation on the machinery financed by it. Yet another serious allegation contained in the F.I.R. was that the promoters had got the charges of the Corporation vacated by submitting forged documents before the Registrar of Companies.
(3.) DURING the course of arguments a few facts that have gone unrebutted and would require notice are that in relation to the dishonored cheques proceedings under Section 138 of the Negotiable Instruments Act already stand initiated. That apart, both the plots in question i.e. Plot no. 99, Sector 24, Faridabad and plot no. 57, Industrial Area, NIT, Faridabad are in possession with the Corporation based on pari -passu charge.;