2021 (3) TMI 1434 - HC - Indian Laws

FIR and Proceedings Quashed After Settlement in Failed Housing Project Under Buyback Scheme Dispute.

The HC quashed FIR No. 390/2019 and all related proceedings after the petitioner and respondent resolved their dispute through a Settlement Agreement and ... Dishonour of Cheque - factum of settlement has already been recorded by the learned Metropolitan Magistrate - HELD THAT:- Keeping in view that the dispute between the parties has been amicably resolved, this Court is inclined to quash the FIR in question, as no useful purpose would be served in continuing with the proceedings arising out of the present FIR. FIR No. 390/2019, registered at police station Vikas Puri, New and consequent proceedings emanating therefrom are hereby quashed - Petition allowed. Issues:Quashing of FIR No. 390/2019 and all proceedings arising therefrom.Analysis:The petitioner sought the quashing of FIR No. 390/2019, which was registered at a police station in New Delhi, along with all related proceedings. The dispute between the petitioner and respondent arose from an Agreement to purchase a flat in a housing project under a buyback scheme. The project faced financial crisis and liquidation, leading to the filing of a complaint under Section 138 of the Negotiable Instruments Act, 1881. Subsequently, the parties entered into a Settlement Agreement in November 2019 and a Settlement Deed in February 2021. The parties confirmed compliance with the settlement terms during the hearing conducted via video conferencing. The Metropolitan Magistrate had already recorded the settlement in an order, acquitting the petitioner of the offenses in FIR No. 390/2019.The court noted that the parties had amicably resolved their dispute through the settlements, as confirmed by their counsel and recorded by the Metropolitan Magistrate. Considering the resolution of the dispute and the compliance with the settlement terms, the Court found no useful purpose in continuing with the proceedings arising from the FIR. Therefore, the Court decided to quash FIR No. 390/2019 and all consequent proceedings emanating from it. Consequently, the petition was allowed and disposed of, with pending applications also being disposed of accordingly.