Heard the learned counsel for petitioner and the

learned High Court Government Pleader and perused the

material on record.

2.

Complaint filed under Section 200 of Cr.P.C. by

the Manager of Canara Bank, SME Branch, Rambhavan

Complex, Kodialbail, Mangalore, against one Melwin

Noronha alleging offences punishable under Sections 403,

405, 406, 415, 420 and 471 of IPC was referred to police

for investigation, consequent to which, Cr.No.241/2016

came to be registered by Mangalore North Police station

against the said accused.

3.

It is alleged in the complaint that accused is a

customer of complainant’s bank and he availed a loan of

Rs.19,20,000/- on 02.12.2013 by executing necessary

documents in favour of the bank for purchase of a vehicle

by executing Hypothecation Agreement. It is stated that

as per the said agreement, the accused was supposed to

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repay the loan in 70 instalments, but he was irregular in

repayment of the loan and defaulted to pay loan amount

as per agreed terms in the loan agreement. Hence, his

loan account was classified as Non-Performing Assets.

Further, the hypothecated vehicle was also not traced.

On verification, it was learnt that the vehicle