SICA repeal and abatement of rehabilitation proceedings barred further control over company assets; illegal share allotments and sales were struck dow...
Criminal prosecution for cheating and use of forged documents arising from a bank loan transaction was quashed because the dispute had a predominantly civil and commercial character. The loan account had been fully settled under a compromise approved by the Bank, placed before and acted upon by the Debts Recovery Tribunal, and followed by a no dues certificate and withdrawal of recovery proceedings. The later complaint was treated as an afterthought, and the Court held that continuation of the prosecution would be oppressive, yield a remote and bleak prospect of conviction, and amount to an abuse of process. The chargesheet and order framing charges were quashed.
Criminal prosecution for cheating and use of forged documents arising from a bank loan transaction was quashed because the dispute had a predominantly civil and commercial character. The loan account had been fully settled under a compromise approved by the Bank, placed before and acted upon by the Debts Recovery Tribunal, and followed by a no dues certificate and withdrawal of recovery proceedings. The later complaint was treated as an afterthought, and the Court held that continuation of the prosecution would be oppressive, yield a remote and bleak prospect of conviction, and amount to an abuse of process. The chargesheet and order framing charges were quashed.
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