JUDGMENT :

1. Heard Sri Vaibhav Kalia Advocate, the learned counsel for the applicant, Sri Gyanendra Singh, the learned AGA for the State and Sri Nandit Srivastava Senior Advocate assisted by Sri Panjal Krishna Advocate, the learned counsel for the complainant.

2. The instant application has been filed seeking release of the applicant on bail in Case Crime No. 595 of 2021, under Sections 409, 420, 504, 506, 467, 468, 471 & 120-B IPC, Police Station Vibhuti Khand, District Lucknow.

3. The aforesaid case has been registered on the basis of an F.I.R. lodged on 08.11.2021 against the applicant and his brother Mahesh Tulsiyani, alleging that the complainant had booked three flats in the name of his company in Golf View Apartment Scheme in the year 2012. The flats were not constructed within the stipulated period and the flats had not been finished properly. No penalty was paid for the delay in handing over the flats. The complainant had sold away one flat in the year 2015. The FIR categorically states that some consideration remains to be paid by the complainant. It is further alleged that the entire building had been mortgaged by the accused persons with a bank and the loan account was de