Code of Criminal Procedure, 1973 – s.482 – FIR on the basis of complaint filed by the respondent no.2-Bank against the appellants alleging that the accused persons caused wrongful loss of Rs.25.89 lakhs to the Bank – In identical cases on the same set of transactions, a settlement was arrived at between the principal accused and the Bank – Appellants sought quashing of the criminal proceedings pending against them, High Court dismissed the petitions – Interference with: Held: Admittedly, dispute between the parties had culminated in a comprehensive One Time Settlement wherein the Bank had received the entire outstanding amount – Recovery proceedings before the Debt Recovery Tribunal were dismissed as settled, and no residual claim survives – Further, in identical proceedings against the appellants, the charge sheets were quashed by High Court taking note of the settlement reached in the recovery proceedings – SLPs thereagainst were dismissed by this Court thus, appellants are entitled to the same relief – There is no continuing public interest to allow the matter to proceed further – Criminal proceedings pending against the appellants, quashed – Penal Code, 1860 – ss.420, 468, and 471 – Prevention of Corruption Act, 1988 – s.3(2) r/w s.13(1)(d). [Paras 7-10]
As published in the Supreme Court Reports, Supreme Court of India. Headnotes prepared by: Divya Pandey. Text from the Indian Supreme Court Judgments open data set (Dattam Labs), CC BY 4.0.
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