Ikf Finance Limited v. The State Of Telangana

THE HON'BLE Dr . JUSTI CE SHAMEEM AKTHER CRI MI NAL REVI SI ON CASE No.2 4 9 OF 2 0 1 9 ORDER:

This Criminal Revision Case, under Sections 397 and 401 of the Code of Criminal Procedure, 1973 (for short, 'Cr.P.C.'), is filed by the petitioner aggrieved by the order, dated 20.02.2019, passed in Crl.M.P.No.3580 of 2018 in Crime No.333 of 2018 of P.S. Nacharam, on the file of IV Additional Metropolitan Magistrate - cum - IV Additional Junior Civil Judge, Cyberabad at L.B. Nagar, Ranga Reddy District.

2.

Heard learned counsel for the petitioner and the learned Additional Public Prosecutor representing the respondent/ State. Perused the record.

3.

The Court below, by the aforesaid order, dated 20.02.2019, ordered to return Eicher Bus bearing No.TS-08-UA9954, Model No.BSIV, to the petitioner on executing a personal bond of Rs.20,00,000/ - with one surety to the satisfaction of the likesum. The Court below also directed the petitioner to submit the original document of Hypothecation Agreement. The Court below also imposed other conditions.

4.

Learned counsel for the petitioner would submit that the subject vehicle is hypothecated with the petitioner; that respondent No.3 has not cleared the loan amount payable to the petitioner; that the subject vehicle is a used vehicle and ultimately, sought to reduce the security amount.

5.

Having regard to the submissions made, the petitioner is directed to furnish Rs.10,00,000/ - (Rupees ten lakhs only) towards security for release of the subject vehicle, instead of furnishing Rs.20,00,000/ - towards security, as directed by the Court below. The other conditions imposed by the Court below remain unaltered.

6.

With the above modification, the Criminal Revision Case is disposed of.

Miscellaneous Petitions, if any, pending in this Criminal Revision Case shall stand closed.

______________________ Dr . SHAMEEM AKTHER, J March 12, 2019.

MD