1. Heard learned counsel for the
parties and perused the pleadings.
2. The petitioner has been arrested
pursuant to FIR No.262 dated 14.01.2020
under Sections 406, 420, 467, 468, 471,
477-A, 201, 120-B IPC registered at
Police Station Division 6, Police
Commissionerate, Ludhiana, Punjab. It is
alleged by the complainant that one
Kailash Aggarwal and his wife defrauded
and cheated him by inducing him to invest
in the company and later the entire money
was siphoned off. There is no direct
allegation against the petitioner in the
aforesaid FIR except that he had sold
four properties of the Company and the
sale consideration was not deposited in
the company accounts.
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