ORDER

Heard learned counsel for the parties.

2. The present application has been filed for grant of bail in connection with Rampur P.S. Case No. 149 of 2022 registered for the offences punishable under Sections 406/420/ 467/468/471/120-B of the Indian Penal Code. The petitioner is in custody since 21.03.2023 in connection with the present case.

3. The prosecution case in short as per the informant Rajnish Kant, Zonal Legal Head of the Tata Motors Finance Limited with prime allegations that upon request of this petitioner for granting financial assistance for purchase of trucks from the informant's company which is a non-banking finance company engaged in the business of finance and balance transfer facility was availed by the petitioner with respect to Tata Truck Registration No. NL 01 N 3100 and the loan/ hypothecation agreement was executed on 19.02.2020 and installment was fixed, however, there was default in payment of installment and in the meanwhile the petitioner transferred the vehicle to one Pintu Chaudhary on 25.4.2021 at Rs. Five Lakhs and therefore, he committed the crime.

4. Learned Senior Counsel appearing on behalf of the petitioner has submitted that the informant got the copy of the FIR of Sherghati P.S. Case No. 21 of 2021 lodged by this petitioner showing that he sold the truck to one Shankar Yadav which was financed by Tata Motors Finance Limited.

5. It is argued that the petitioner had availed the loan from Tata Motors Finance Limited way back in the year 2017 and paid the installments to the satisfaction of the Company.

6. He has further submitted that in an around the year 2020 the Tata Motors Finance Limited shifted the loan to Tata Motors Financial Solutions Limited (for short TMFSL ) practically with no information or notice to the petitioner and one day the petitioner was asked to sign papers of balance transfer to TMFSL, however, later the petitioner could come to know that the deposits made by him with the original financier were not credited in the TMSFL and that led to objection and dispute from the side of the petitioner.

7. It is next submitted that the authorities of the Tata Motors on 27.12.2021 forcefully took possession of one of the vehicles of this petitioner bearing registration No. NL 01 N 3100 at Chatra (Jharkhand) which led to serious dispute between the petitioner and the financier. Upon much follow up ultimately on 12.01.2022 after illegally keeping the vehicle, the same was released by the financier. Even, later the petitioner filed a criminal complaint also. On 31.7.2017 the petitioner and Tata Motor Finance after due satisfaction and based on outstanding CIBIL score of the petitioner granted vehicle loans for thirty vehicles.

8. Learned Senior Counsel for the petitioner has submitted that the petitioner had good track record and even time to time the no objection and no dues certificate have been issued by Tata Motors.

9. He has argued that the illegal recovery of possession of the vehicle disturbed the smooth business of transportation of the petitioner as also COVID 19 and lockdown harmed the business a lot. Even recently this Court has deprecated the practice of financiers in the State of Bihar in forcefully taking possession of vehicles and the financiers were imposed heavy cost by this Court which shows the attitude of the financiers in harassing the borrowers. However, the petitioner save and except the Covid period maintained good relationship with the financier and made timely payment of the installments. On 14.02.2022, the financier again repossessed one of the petitioner's vehicles at Varanasi which was released later on upon protest of the petitioner.

10. He has submitted there is no dispute with regard to the fact that the petitioner made payment of installment of the vehicles smoothly from 2017 till 2021.

11. It is submitted that the petitioner had moved before this Court by filing a request case under Request Case No. 79 of 2022 for appointment of an arbitrator however after m