SANDEEP MOUDGIL, J (ORAL)

1. Prayer

The jurisdiction of this Court has been invoked under Section 482 of BNSS 2023 (earlier under Section 438 of Cr.P.C) 1973 before this Court for grant of anticipatory bail to the Petitioner in FIR No.146 dated 24.05.2026 registered under Sections 318(4), 338, 336(2), 336(3), 340(2) and 61(2) of the Bharatiya Nyaya Sanhita, 2023 (Earlier Under Section 420/ 467, 465, 468, 471,120-B of IPC, 1860) at Police Station Sarabha Nagar, District Police Commissionerate Ludhiana, Punjab (Annexure P-1).

2. Contention

On behalf of the petitioner

Learned Senior Counsel for the petitioner submits that the petitioner has been falsely implicated in the present case and has been falsely roped into a criminal prosecution arising out of statutory recovery proceedings conducted by Punjab National Bank under the provisions of the SARFAESI Act, 2002 and the Recovery of Debts and Bankruptcy Act, 1993. He further submits that the petitioner is neither a borrower nor a guarantor in the loan account. The only role attributed to the petitioner is that he participated in a public auction conducted pursuant to statutory recovery proceedings under the supervision of the Recovery o