- 1 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF MAY, 2026 BEFORE THE HON'BLE MR. JUSTICE M.G.S. KAMAL CRIMINAL PETITION NO. 6901 OF 2026 BETWEEN: 1. SRI AGARWAL V. K. @ VISHNU KUMAR AGARWAL S/O. TJENDRA KUMAR AGARWAL AGED ABOUT 66 YEARS R/AT FLAT NO. B-101 ARG SOCIETY, RAILWAY STATION ALWAR, RAJASTHAN - 301 001. 2. SRI. DEEP KAMAL AGARWAL S/O. VISHNU KUMAR AGARWAL AGED ABOUT 40 YEARS R/AT FLAT NO. B-102 ARG ROYAL ENSIGN OLD STATION ROAD ALWAR, RAJASTHAN - 301 001. 3. SMT. MANJU AGARWAL W/O. VISHNU KUMAR AGARWAL AGED ABOUT 67 YEARS R/AT FLAT NO. B-101 ARG SOCIETY OLD STATION ROAD, ALWAR, RAJASTHAN - 301 001. …PETITIONERS (BY SRI P.P.HEGDE, SENIOR ADVOCATE FOR SMT.SOFIYA, ADVOCATE) AND: 1. STATE OF KARNATAKA BY MAGADI ROAD POLICE STATION REPRESENTED BY STATE Digitally signed by SUMA B N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 PUBLIC PROSECUTOR HIGH COURT OF KARNATAKA BENGALURU - 560 001. …RESPONDENT (BY SMT.WAHEEDA H.M., HCGP) THIS CRIMINAL PETITION IS FILED UNDER SECTION 438 CR.P.C. PRAYING TO GRANT AN ORDER OF ANTICIPATORY BAIL TO THE PETITIONERS IN THE EVENT OF THEIR ARREST BY THE RESPONDENT-MAGADI ROAD POLICE IN CRIME NO.206/2022 FOR THE OFFENCES PUNISHABLE UNDER SECTIONS 506, 149, 406 AND 420 OF INDIAN PENAL CODE PENDING ON THE FILE OF IV ADDITIONAL CHIEF METROPOLITAN MAGISTRATE, BENGALURU AND DIRECT THE RESPONDENT-POLICE TO RELEASE THE PETITIONERS ON BAIL, IN THE EVENT OF THEIR ARREST IN THE AFORESAID CRIME NUMBER. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE M.G.S. KAMAL ORAL ORDER The petitioners, who are accused Nos.1, 3 and 4 in Crime No.206/2022 registered at Magadi Road Police Station for the offences punishable under Sections 506, 149, 406 and 420 of IPC, are before this Court seeking grant of bail. 2. It is the case of the prosecution that the complainant - Sri Devendra Kumar, had met accused No.5, - 3 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 who was an Educational Expert from the State of Madhya Pradesh and that he had informed the complainant that an Educational Institution by name Sunrise University, situated at Alwar in the State of Rajasthan, was available for sale and that the trustees of the said University were willing to sell the same for a sum of ₹40.00 crores. 3. Based on the said information, the complainant is stated to have invested a sum of ₹7.00 crores, out of which ₹2,26,18,984/- was transferred through Bank transactions and the amount of ₹4,73,00,000/- was allegedly paid in cash to accused Nos.1 and 2 on 19.03.2021 and 26.07.2021. That despite payment of amount, the complainant was neither made as a trustee of the said University nor his money was returned, thereby the complainant was cheated. Based on the aforesaid allegations, a case in Crime No.206/2022 came to be registered for the offences mentioned hereinabove. - 4 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 4. Sri P.P. Hegde, learned Senior Counsel appearing on behalf of Smt. Sofiya for petitioners submits that pursuant to the said complaint, the respondent–Police had gone to Rajasthan and during the course of investigation, a proposal for settlement was arrived at between the accused and the complainant, whereby the accused agreed to return the amount. Accordingly, the trustees of the University had issued 35 security cheques amounting to ₹3.45 crores. However, the said cheques were not honoured. In the meanwhile, criminal petition No.496/2023 and connected matters came to be filed before this Court seeking to quash the aforesaid proceedings in Crime No.206/2022 and an interim order of stay was granted therein. However, the trustees, who were petitioners in the said petition, sought withdrawal of the same with liberty to seek appropriate remedy. Accused Nos.1, 3 and 4-petitioners herein were also petitioners in the said petition. The Co-ordinate Bench of this Court, by order dated 22.04.2026, while permitting withdrawal of - 5 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 the said criminal petition, extended the interim order granted therein for a period of four weeks, thereby enabling the petitioners therein to seek anticipatory bail. 5. Learned Senior Counsel for petitioners further taking this Court through the records, submits that the admitted amount is only ₹2,26,18,984/- and that the allegation regarding payment of ₹4,73,00,000/- by way of cash is specifically denied. He further submits that the said amount has been mentioned in the complaint only to exaggerate and embellish the case against the petitioners herein and that there is no substance in the said allegation. 6. Learned Senior Counsel further submits that cheques have been issued by the trustees, including the petitioners herein, towards security for repayment of the admitted amount and that the dispute is merely with regard to recovery of said money. He contends that the - 6 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 matter has been given a colour of criminality and therefore, the petitioners are entitled to grant of bail. 7. Learned High Court Government Pleader for respondent-State, opposing the petition, submits that the amount involved is huge, running into ₹7.00 crores. She further submitted that the petitioners have a tendency to travel abroad frequently, particularly to Dubai and there is every likelihood of they not returning to India and not cooperating with the investigation. Hence, she seeks for rejection of the petition. 8. Heard the learned counsel for parties and perused the records. 9. In Criminal Petition No.496/2023 and connected matters filed by the petitioners herein along with other trustees of the University, the Co-ordinate Bench of this Court had granted stay of further proceedings in Crime No.206/2022, which is the subject matter of the present petition. The said criminal petition has been permitted to - 7 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 be withdrawn vide order dated 22.04.2026. The operative portion of the said order reads as follows: i. Criminal Petition is disposed reserving liberty to the petitioner to approach this Court in the event a final report is filed and the final report would go against him. ii. The interim order if any subsisting as on today shall stand extended for a period of 4 weeks, only for the purpose of enabling the petitioner to apply for grant of anticipatory bail. iii. In the event the petitioner would not avail of the remedy of filing an application seeking anticipatory bail, the interim order that is extended for a period of 4 weeks would stand automatically vacated. iv. All contentions remain open to be considered before the appropriate forum at the appropriate time. 10. Thus, the Co-ordinate Bench of this Court had extended the interim order granted in the said proceedings for a period of four weeks, thereby enabling the petitioners - 8 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 therein, including the petitioners in the present petition, to seek appropriate relief. 11. The allegations made are of cheating and misappropriation. Though it is alleged in the complaint that a sum of ₹7.00 crores consisting of ₹2,26,18,984/- paid through Bank transactions and ₹4,73,00,000/- paid by way of cash, was paid to accused Nos.1 and 2, investigation is required to be conducted to ascertain the veracity of the said claim regarding payment of money in cash. 12. Admittedly, the cheques have been issued by the trustees of the University, including the petitioners herein, towards security for repayment of the admitted amount paid by the complainant through Bank transactions. Non-honouring of the said cheques may have its own consequences in law. - 9 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 13. Be that as it may, the petitioners, in the considered opinion of this Court, have made out a case for grant of anticipatory bail. In light of the averments and allegations made in the complaint, as well as the order passed by the Co-ordinate Bench of this Court, this Court deems it appropriate to allow the petition. 14. Accordingly, I pass the following: ORDER 1. Criminal Petition is allowed. 2. Accused Nos.1, 3 and 4 - petitioners shall be released on bail, in the event of their arrest in Crime No.206/2022 for the offences punishable under Sections 506, 149, 406 and 420 of IPC, subject to following conditions: (i) Accused Nos.1, 3 and 4 - petitioners shall execute a bond for a sum of Rs.2,00,000/- each with two local sureties each for the likesum, to the satisfaction of the jurisdictional Court; - 10 - HC-KAR NC: 2026:KHC:24744 CRL.P No. 6901 of 2026 (ii) Accused Nos.1, 3 and 4 - petitioners shall appear before the jurisdictional Police Station and mark their attendance on every Sunday between 10.00 a.m. and 6.00 p.m. and co-operate with the investigation process till filing of charge-sheet. (iii) Accused Nos.1, 3 and 4 - petitioners shall not influence or in any manner tamper with the prosecution witnesses. (iv) Accused Nos.1, 3 and 4 - petitioners shall not leave the Country without prior permission of the Trial Court. SD/- (M.G.S. KAMAL) JUDGE CPN List No.: 1 Sl No.: 84