JUDGMENT :

B.N. Mahapatra, J. - The present petition has been filed u/s 439, Cr. P.C. in connection with G.R. Case No. 4730 of 2012, now pending in the Court of S.D.J.M., Bhubaneswar, arising out of E.O.W. Bhubaneswar P.S. Case No. 12 of 2012 with prayer to release the petitioners on bail on any terms and conditions. Petitioners in the present case are three in number. They are Dr. Tirupati Panigrahi, Chairman, Hi-Tech Medical College and Hospital, Bhubaneswar and Managing Director, Hi-Tech Estates and Promoters Private Limited, (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.

2. The petitioners are alleged to have committed offence punishable under Sections 120-B/420/406/411/469/471/34, IPC.

3. Prosecution case in a nutshell is that the informant-Hemanta Kumar Behera, who is residing in Bhubaneswar for last 10 years, in the year 2002 came to know from an advertisement floated in the newspaper and also after going through the leaflets and brochure of Rajdhani Systems and Estates Private Limited that near Bhubaneswar, the Company has