https://www.taxtmi.com/caselaws?id=299080 An FIR alleging criminal misconduct in the disposal of secured property and related waiver of interest was not quashed while investigation was still in progress. The Madras HC held that, despite some inaccurate factual particulars in the FIR, the core allegations concerning the sale process, SIDCO's interests, and a possible criminal design between bank officials and the purchaser required completion of investigation. The Court declined to treat the petitioners as innocent bona fide purchasers or to rule out criminality at the threshold, since such conclusions could not safely be reached before the inquiry was completed. The criminal proceedings were therefore left undisturbed and the investigation continued. en-us Tue, 05 Dec 2017 00:00:00 +0530 Fri, 03 Dec 2021 08:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299080 An FIR alleging criminal misconduct in the disposal of secured property and related waiver of interest was not quashed while investigation was still in progress. The Madras HC held that, despite some inaccurate factual particulars in the FIR, the core allegations concerning the sale process, SIDCO's interests, and a possible criminal design between bank officials and the purchaser required completion of investigation. The Court declined to treat the petitioners as innocent bona fide purchasers or to rule out criminality at the threshold, since such conclusions could not safely be reached before the inquiry was completed. The criminal proceedings were therefore left undisturbed and the investigation continued. Case-Laws Indian Laws Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299080