Karnataka High Court
WP/21358/2026 of JAR GOLD RETAIL PRIVATE LIMITED Vs STATE OF KARNATAKA on 15 July 2026
CNR: KAHC010476312026 NC: 2026:KHC:36239 WP No. 21358 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 15TH DAY OF JULY, 2026 BEFORE THE HON'BLE MR. JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 21358 OF 2026 (GM-RES) BETWEEN: 1. JAR GOLD RETAIL PRIVATE LIMITED, A COMPANY
HC-KAR
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 15TH DAY OF JULY, 2026
BEFORE
THE HON'BLE MR. JUSTICE M.NAGAPRASANNA
WRIT PETITION NO. 21358 OF 2026 (GM-RES)
BETWEEN:
1.
JAR GOLD RETAIL PRIVATE LIMITED,
A COMPANY INCORPORATED UNDER THE
COMPANIES ACT, 2013,
BEARING CIN U47733KA2023PTC181719,
HAVING ITS REGISTERED OFFICE AT:
752, 18TH MAIN, 5TH CROSS,
6TH BLOCK, KORAMANGALA,
BENGALURU, KARNATAKA 560095.
REPRESENTED BY ITS AUTHORIZED
REPRESENTATIVE
MR. AVINASH VASANT DESHPANDE.
2.
NISHCHAY BABU ARKALGUD,
S/O GOWRISHANKAR A G,
AGED ABOUT 42 YEARS,
RESIDING AT NO. 661,
GROUND FLOOR, 6TH C MAIN,
11TH CROSS, J.P. NAGAR,
3RD PHASE,
BANGALORE - 560078.
3.
MISBAH ASHRAF,
DIRECTOR,
AGED ABOUT 32 YEARS,
RESIDING AT NO. 252,
SHOBHA MARZARIA GRANDEUR,
Digitally signed
by PADMAVATHI
B K
Location: High
Court of
Karnataka
HC-KAR
NO. 4/1, 4/1, BANNERGHATTA RD,
BHAVANI NAGAR,
BENGALURU 560029.
4.
SANDESH NAHAR,
DIRECTOR,
JAR GOLD RETAIL PRIVATE LIMITED,
AGED ABOUT 31 YEARS,
RESIDING AT FLAT NO. 203,
2ND FLOOR, ORLANDO LAKEVIEW,
JAYANAGARA EAST,
BENGALURU 560011.
…PETITIONERS
(BY SRI.SANDESH J CHOUTA, SENIOR ADVOCATE
FOR SRI. P. CHINNAPPA, ADVOCATE)
AND:
1.
STATE OF KARNATAKA,
BY STATION HOUSE OFFICER,
KORAMANGALA POLICE STATION,
BANGALORE- 560 095.
2.
MR. SRIKANTEGOWDA B. (PSI),
AGED ABOUT 32 YEARS,
WORKING AT,
KORAMANGALA POLICE STATION,
BENGALURU CITY- 560 095.
…RESPONDENTS
(BY SMT.DEEPTHI ALVA, HCGP)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226
AND 227 OF THE CONSTITUTION OF INDIA READ WITH
SECTION 528 OF THE BHARATIYA NAGARIK SURAKSHA
SANHITA, 2023, PRAYING TO QUASH THE COMPLAINT AND FIR
BOTH DATED 16.01.2026 REGISTERED AS CRIME NO.25 OF
2026 BY KORAMANGALA POLICE STATION, BENGALURU, PENDING ON THE FILE OF XCII ADDL. CITY CIVIL AND
SESSIONS JUDGE AT BENGALURU (CCH 93), AS AGAINST
PETITIONERS FOR ALLEGED OFFENCES UNDER SECTIONS
HC-KAR
21(1) AND 21(2) OF THE BANNING OF UNREGULATED DEPOSIT
SCHEMES ACT, 2019 (ANNEXURE A AND B).
THIS
PETITION,
COMING
ON
FOR
PRELIMINARY
HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR. JUSTICE M.NAGAPRASANNA
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ORAL ORDER
Heard the learned Senior Counsel Sri.Sandesh J Chouta appearing for the petitioners.
2. After having argued the matter at length, the learned Senior Counsel would seek leave of this Court to withdraw the petition and approach this Court, as the liberty granted by the Apex Court was to challenge the final report. The final report is yet to come about. Reserving such liberty, the petition stands disposed.
Sd/- (M.NAGAPRASANNA) JUDGE
CBC List No.: 2 Sl No.: 138