Asutosh Acharya Vs State of Odisha

Instant petition under Section 483 BNSS is filed for release of the petitioner on bail in connection with C.T. No.685 of 2024 pending in the file of learned J.M.F.C.-IV, Bhubaneswar arising out of Laxmisagar P.S. Case No.313 dated 5^th June, 2024 recorded under Sections 467,468,471,420 read with Section 34 I.P.C on the grounds stated therein.

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A copy of the F.I.R. is produced in Court today and the same is perused.

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Recorded the submission of the learned counsel for the respective parties.

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A deed of partnership between the parties is at Annexure-1. The partnership was reconstituted, as informed to the Court, referring to Annexure-1. The petitioner happens to be one of the partners of M/s. Aysa Enterprises situate at Bhubaneswar. The allegation as per the F.I.R. is that without consent or knowledge of the informant, an amount of Rs.89 lac was availed as a loan but in

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the name of M/s. Aysa Enterprises and at last, the report was lodged. The informant being one of the co-partners, for having availed the loan, on account of default, action under Section 13(2) of the SARFAESI Act was initiated, in respect of which, default notice was received and the same is at Annexure-3. It is alleged that the informant as a partner was cheated and with suppression of facts and manipulation, the loan was availed. In any case, the loan amount was received in the account of M/s. Aysa Enterprises. The investigation is in progress as informed to the Court by Mr. Ray, learned AGA for the State. The petitioner is in custody since 17^th December, 2024.

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Considering the above facts and submissions of learned counsels appearing for both the sides, the Court is of the view that since it is a dispute over availing loan in the name of a partnership firm so revealed from Annexures-2 series and 3, though an allegation is made by a co-partner that such loan was applied for with suppression of certain material facts and it was without her knowledge and thereafter, the other events followed, the Court is of the view that the present accused should be allowed to go on bail with conditions.

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Hence, it is ordered.

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In the result, petition under Section 483 BNSS stands allowed. Consequently, the petitioner is directed to go on bail in connection with C.T. No.685 of 2024 arising out of Laxmisagar P.S. Case No.313 dated 5^th June, 2024 subject to him furnishing a bail bond of Rs.40,000/-(rupees forty thousand) with one solvent surety for the like amount each to the satisfaction of learned J.M.F.C.-IV, Bhubaneswar, who shall be at liberty to impose such other suitable conditions as deemed just and proper in the facts and circumstances of the case.

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