Case Facts:
Patna High Court Cr.Misc. No.19774 of 2012 (3) dt.21-06-2012 IN THE HIGH COURT OF JUDICATURE AT PATNA Criminal Miscellaneous No.19774 of 2012 ====================================================== Jawed Ahmed @ Jawed Akhtar @ Jwved .... .... Petitioner/s Versus The State Of Bihar .... .... Opposite Party/s ====================================================== CORAM: HONOURABLE MR. JUSTICE DINESH KUMAR SINGH ORAL ORDER 3 21-06-2012 Heard learned counsels for the petitioner and the State. The petitioner is apprehending arrest in a case registered for the offences punishable under [STATUTE] . It is alleged that the petitioner being Managing Director of the Financial Company, induced the informant to deposit Rs.2,40,000 in the company in order to become a member of Board of Directors and share holder. Subsequently, the informant persuaded others also to deposit Rs.600 each in the company but the informant was not given any share in the company and subsequently, the petitioner fled away after closing the company. It is submitted that on the accusations levelled, no offence is made out as there was a contractual relationship between the parties and with similar accusation, the other case being Barauli P.S. Case no. 240 of 2011 was lodged by another person at Gopalganj in which the present informant was a witness. Patna High Court Cr.Misc. No.19774 of 2012 (3) dt.21-06-2012 In that case, the petitioner has been granted regular bail vide Cr. Misc. No. 2468 of 2012. Considering the aforesaid facts, this court sees no reason for the learned court below not to give similar relief to the petitioner in case the petitioner surrenders within six weeks from today in connection with Barharia P.S. Case no. 46 of 2012 pending in the court of learned C.J.M., Siwan. This application is disposed of with the aforesaid observation/direction. Let this order be transmitted through FAX at the cost of the petitioner. 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.