Crl. Misc.No.M 8954 of 2010 # 1# IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANAT AT CHANDIGARH. Crl. Misc.No.M 8954 of 2010 Date of Decision:-23.08.2010 Sandeep Kumar. ......Petitioner. Versus State of Punjab & Ors. ......Respondents. CORAM:- HON'BLE MR. JUSTICE JASWANT SINGH. Present:- Mr. Pardeep Bajaj, Advocate for the Petitioner. Mr. Gaurav Garg Dhuriwala, AAG Punjab for respondent no.1. Mr. R.D. Bawa, Advocate for respondents no.2 & 3. *** JASWANT SINGH, J.(ORAL) Prayer is under Section 438 Cr.PC for grant of pre-arrest bail to the petitioner in case bearing FIR No.11 dated 27.1.2010 registered under Section 406 Indian Penal Code registered with police station Guru Har Sahai. The facts of the case are that a rice sheller owned by the petitioner was taken over by respondent no.2 Punjab Financial Crl. Misc.No.M 8954 of 2010 # 2# Corporation(PFC) on 20.03.2007 in pursuance to the proceedings under Section 29 of the State Financial Corporation Act as the petitioner had failed to repay the secured loan. Thereafter aforementioned FIR was lodged by the complainant-corporation on the allegations that the petitioner had removed the plant and machinery from the premises. This court while issuing notice of motion on 29.3.2010 had granted interim protection/pre-arrest bail subject to the petitioner depositing a sum of rupees nine lacs . During the proceedings before the court on 5.5.2010 a sum of rupees seven lacs by way of demand draft was handed over to the counsel for the respondent no.2-PFC and the prayer of the petitioner seeking more time to arrange the rest of the money was accepted. At the time of hearing today learned counsel for the petitioner has handed over draft of rupees two lacs bearing number 352528 dated 21.8.2010 to Sh. R.D. Bawa, counsel for respondent no.2 (photocopy of above said draft retained). Learned counsel further submits that the petitioner is ready and willing to repay the remaining amounts of loan in a phased manner and accordingly wishes to make application to the respondent. Learned counsel for the petitioner states that if such an application is made the same shall be considered sympathetically. Learned State counsel on instructions from ASI Samson submits that the petitioner has joined the investigation and is no longer required for custodial interrogation. Crl. Misc.No.M 8954 of 2010 # 3# In view of the fact that petitioner has fulfilled all the conditions of the interim directions and the investigations are over, interim protection/bail granted vide order dated 29th of March, 2010 is made absolute. Petition stands disposed of. ( JASWANT SINGH ) JUDGE 23rd August, 2010 Vinay