CRM No.M-7769 of 2011.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CRM No.M-7769 of 2011 (O&M) Date of Decision: 29.04.2011 **** Kulwant Singh . . . . Petitioner VS. State of Punjab & Anr. . . . . Respondents **** CORAM : HON’BLE MR.JUSTICE SURYA KANT **** 1. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? **** Present: Mr. GN Malik, Advocate for the petitioner Mr. Shilesh Gupta, DAG Punjab Mr. Talwinder Singh, Advocate for respondent No.2 **** SURYA KANT J. (ORAL) (1). The prayer in this petition is to grant pre-arrest bail to the petitioner in FIR No.116 dated 26.09.2010 registered under Section 420 IPC PS Division No.1, Ludhiana. (2). The above-stated FIR has been registered on a complaint made by the Branch Manager of UCO Bank and as per the allegations contained therein, the petitioner took a loan of Rs.20 lacs from the complainant-Bank by creating equitable mortgage of his immoveable property measuring 200 sq.yards situated at Haibowal Kalan in CRM No.M-7769 of 2011.doc - 2 – Ludhiana also known as “Sunil Park”. The petitioner is said to have sold a part of the said property in a clandestine manner in order to dupe the Bank. (3). It is averred by the petitioner that the loan instalments are being paid by him regularly and is also willing to pay a sum of Rs.5 lacs to the complainant-Bank and also intends to discharge his entire loan liability within one year. (4). Having regard to the nature of allegations, however, without expressing any views in relation thereto, the petition is allowed and it is directed that the petitioner, on his joining the investigation, shall be released on interim bail subject to his furnishing bail bonds to the satisfaction of the Investigating Officer as well as to the following additional directions:- i. The petitioner shall deposit a sum of Rs.5 lacs with the complainant-Bank within two weeks; ii. The original title deeds of the remaining plot measuring 100 sq.yards shall be deposited either with the complainant-Bank or with the trial Court till the entire loan is repaid by the petitioner; iii. The petitioner shall give an undertaking by way of an affidavit to the complainant-Bank that the left out property measuring 100 sq.yards shall not be CRM No.M-7769 of 2011.doc - 3 – disposed of by him till he liquidates his entire loan liability; iv. The Revenue/Municipal Authorities of Ludhiana, within whose jurisdiction the subject property is located are directed to make an entry to this effect in the Revenue records. (5). In the event of any default in the payment of the monthly instalments or non-compliance of any of these conditions, liberty is granted to the complainant-Bank to seek cancellation of this order. 29.04.2011 vishal shonkar (S u r y a K a n t) Judge