JUDGMENT :

Ajay Kumar Gupta, J:

1. By the present revisional application, the petitioner/accused challenged the order dated 09.01.2020 passed by the learned Metropolitan Magistrate, 9th Court at Calcutta in connection with G.R. Case No. 17/2014 arising out of Park Street Police Station Case No. 05/2014 dated 2nd January, 2014 under Sections 406/420/506 of the Indian Penal Code thereby the learned Magistrate rejected the prayer for discharge of the petitioner from the said proceeding.

2. Sans unnecessary details, the facts of the instant case are as under:

2a. In the year 2007, the petitioner entered into an agreement for hypothecation of a vehicle (ALTO/LXi) by availing loan amount of Rs. 2,86,000/-from the ICICI Bank Limited with terms and conditions that the petitioner shall re-pay in equal monthly instalments till final payments of principal and interest accrued therein. The said vehicle remained in the possession of the petitioner for his use. subsequently vide deed of assignment dated 31.12.2007, the said ICICI Bank assigned the loans/debts payable by the petitioner to the M/s Kotak Mahindra Bank Limited, opposite party no. 2 herein. The vehicle in question being registration No.