Code of Criminal Procedure, 1973 – s.482 – Exercise of power under – Criminal proceedings against the appellant u/ss.120-B, 420, 468 and 471 IPC and s.13(2) r/w s.13(1)(d) of the 1988 Act – Application u/s.482 CrPC for quashing of the criminal proceedings pending before the Special Judge – Disposed of, by the High Court by permitting the appellants to urge all the pleas raised in the application before the trial court at the appropriate stage – Correctness:
Held: Matter has been compromised between the borrowers and the Bank and upon payment of the amount under the OTS, the loan account of the borrower has been closed, as such the continuation of the criminal proceedings not justifiable – In the matters arising out of commercial, financial, mercantile, civil, partnership or such like transactions or the offences arising out of matrimonial or family disputes where the wrong is basically private or personal in nature and the parties have resolved their entire dispute, the High Court should exercise its powers u/s.482 for giving an end to the criminal proceedings – Possibility of conviction in such cases is remote and bleak and as such, the continuation of the criminal proceedings would put the accused to great oppression and prejudice – Impugned orders passed by the High Court quashed and set aside – Criminal proceedings against the appellants pending before the Special Judge also quashed and set aside – Penal Code, 1860 – Prevention of Corruption Act, 1988. [Paras 11, 14, 15, 17]
As published in the Supreme Court Reports, Supreme Court of India. Headnotes prepared by: Nidhi Jain. Text from the Indian Supreme Court Judgments open data set (Dattam Labs), CC BY 4.0.
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