' The petitioner namely Haji Wazir owns an industrial unit namely, Ghowsia Tin Fabrication (Pvt.) Ltd.
In Azakhel District Nowshera. Some raw material in the shape of Tin plates_ was kept in the go down of the factory of the petitioner as pledged stock in lieu of a loan obtained by the petitioner from respondent No:2. Namely, M/s. Prudential Commercial Bank Ltd. Upon investigation by the bankers and Customs Authorities it was :revealed on 22-1-1998 that the locks and seals of the go down were broken and outer wall of :the same had been tampered with and thereafter had been reconstructed. The present report was recorded on 24-1-1998 vide F.I.R. No,28 of Police Station Azakhel for an offence under section 406, P.P.C. A decree - to the tune of Rs,33.,76,562 was passed by the Judge Banking Court No,1 Peshawar against the petitioner. Thereafter during execution proceedings the petitioner was also taken into custody for .The default in payment of the decretal amount.
2. It is note-worthy to mention that the aforesaid case in connection with the recovery of the bank dues has no concern with the present matter. In the instant case the petitioner has been involved for the offence being owner of Ghowsia Tin Fabrication (Pvt.) Ltd. Azakbel Bala wherefrom the property was stolen, the date , and time of which is not available on the record nor there is any ocular evidence available to connect the petitioner with the offence. Besides, he is charged for an offence which is not punishable for more than 10 years' R.I. Therefore, the case of the petitioner does not fall within the prohibitory clause of section 497, Cr.P.C. And is arguable for the purpose of bail.
The petitioner is, therefore, allowed bail in the sum of Rs,1,00,000 (one lac) with two sureties each in the like amount to the satisfaction of the Illaqa/Duty Magistrate.