Case Facts:
IN THE HIGH COURT OF JUDICATURE AT PATNA Criminal Miscellaneous No.711 of 2012 1. Anil Yadav, 2. Pramod Yadav, 3. Brajesh Kumar Versus The State Of Bihar ---------------------------------- 2/ 11.1.2012 Heard learned counsels for the petitioners and the State. The petitioners being office bearers of a chit fund company, are apprehending their arrest in a case registered under [STATUTE] . The thrust of accusation is against co accused Sujeet Kumar, who marketed the scheme and defalcated the amount. The wife of Sujeet Kumar and others having similar accusations, have been granted anticipatory bail vide Cr. Misc. No. 15537 of 2011. Considering the aforesaid facts, let the above named petitioners be released on bail in the event of his arrest or surrender before the learned court below within a period of twelve weeks from today, on furnishing the bail bond of Rs.10000/(ten thousand) each with two sureties of the like amount each to the satisfaction of C.J.M. Madhepura in Murliganj P.S. Case no. 164 of 2010 subject to the conditions as laid down under section 438(2) of the Cr.P.C. Anil/ (Dinesh Kumar Singh, J.)

Applicable IPC Section: 420

Statute Text:
Section 420 of the Indian Penal Code. Cheating and there by dishonestly inducing delivery of property, or the making, alteration or destruction of a valuable security. Whoever cheats and thereby dishonestly induces the person deceived to deliver any property to any person, or to make, alter or destroy the whole or any part of a valuable security, or anything which is signed or sealed, and which is capable of being converted into a valuable security, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.