Judgment

B.N. Mahapatra, J.

The present petition has been filed under Section 439, Cr. P.C. in connection with G.R. Case No.4657 of 2012, now pending in the Court of S.D.J.M., Bhubaneswar, arising out E.O.W. Bhubaneswar P.S. Case No.11 of 2012 with a prayer to release the petitioners on bail on any terms and conditions.

2. Petitioners in the present case are three in number. They are (1) Dr. Tirupati Panigrahi, Chairman, Hi-Tech Medical College and Hospital, Bhubaneswar and Managing Director, Hi-Tech Estates and Promoters Private Limited, Bhubaneswar, (2) Sri Tirupati Choudhury, Director of Hi-Tech Estates and Promoters Private Limited, Bhubaneswar, and (3) Sri Madhusudan Panigrahi, Director, Hi-Tech Estates and Promoters Private Limited, Bhubaneswar.

3. The petitioners are alleged to have committed offences punishable under Sections 120-B/420/506/34, IPC.

4. Prosecution case in a nutshell is as follows:

The informant Lokanath Das filed a written report before the Superintendent of Police, EOW on 23.12.2012 alleging that he had booked four numbers of homestead plots, two in his own name and other two in the name of his younger brother, Laxmidhar Das in the project of the Company, nam