ORDER :

Petitioners are arraigned as Accused Nos.1, 10 and 11 in C.C.No.53018/2016 arising out of Cr.No.240/2011 of Hennur P.S. for the offences punishable under Sections 418, 419, 420, 465, 468, 467, 474 and 120B read with Section 34 of the IPC, 1860. This petition is filed seeking to quash the criminal proceedings initiated against them in C.C.No.53018/2016 pending before the Court of the XI ACMM, Bangalore.

2. Factual matrix of the prosecution case is as under:

The petitioners said to be arraigned as Accused Nos. 1, 10 and 11 are the employees of M/s. India Bulls Housing Finance Ltd., Malleswaram, Bangalore, (for short ‘IBHFL’). The aforesaid IBHFL is a Company registered under the Companies Act, 1956 having its registered office at F-16, Malhothra Building, Connaught Place, New Delhi having branches all over India and this case pertains to Bangalore Branch. The said IBHFL has been recognized by the Government of India as financial institution under Section 2(1)(m)(iv) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’, for short) by virtue of notification issued in No.F No.1/1/2006-BO-I dated 19.09.2007 of th