Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Penal Code 1860 |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Penal Code, 1860 - ss. 409, 418, 423 and 425 r/w s.120-B - Complaint under - Quashing of - Complainant-respondent C Company borrowed a sum of Rs. 900 lakhs from consortium of Banks led by State Bank of Travancore (SBT) - Non-payment of loan by respondent - Recovery proceedings by SBT before DRT, partially decreed - However, SBT assigned the debt due from respondent to Kotak Mahindra Bank through an Assignment Deed - The factum of said assignment deed not intimated to the respondent-Company either by SBT or Kotak - Unaware of such assignment deed in favour of Kotak, respondent inter alia assigned to Kotak all the dues of one of its defaulter for recovery - After nine months, respondent got to know of existence of the assignment deed between Kotak & SBT when Kotak filed an application for substituting its name in the recovery proceedings - Common complaint by respondent against officers of Kotak & SBT alleging criminal breach of trust, suppression of facts and surreptitious execution of assignment deed - Process issued- However; complaint withdrawn by respondent against officers of Kotak - Appellants challenged issue of process before High Court, which was dismissed - Plea of appellants that respondent withdraw complaint against the co-accused and since allegations against them are also same, thus the complaint is liable to be quashed- On appeal, held: There was suppression of facts by both the Banks as both were duty bound to inform the respondent about the Assignment Deed - However, admittedly, respondent in its wisdom withdrew complaint against officers of the Kotak, from a common complaint made against four persons -- Thus, there is no reason as to why the remaining two persons being appellants, officers of SBT, be prosecuted - Hence, in the interest of justice complaint against appellants is liable to be quashed - Negotiable Instruments Act,1881 - s.138. |
Judge | Hon'ble Mr. Justice R.K. Agrawal |
Neutral Citation | 2017 INSC 244 |
Petitioner | K. Sltaram & Anr. |
Respondent | Cfl Capital Financial Service Ltd. & Anr. |
SCR | [2017] 4 S.C.R. 850 |
Judgement Date | 2017-03-21 |
Case Number | 2285 |
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