https://www.taxtmi.com/caselaws?id=437197 The Supreme Court held that a criminal complaint arising from an inter-corporate deposit and pledge arrangement was not maintainable where the contractual documents expressly authorised invocation and sale of pledged shares, including sale to the lender or its group companies. The allegations were inconsistent with those terms, and the record showed the complainant knew of the share sale years earlier but delayed filing the complaint until much later. On these facts, the dispute was essentially civil and the complaint did not disclose the basic ingredients of the alleged offences. Criminal prosecution was therefore an abuse of process and liable to be dismissed. en-us Fri, 28 Apr 2023 00:00:00 +0530 Sun, 30 Apr 2023 20:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437197 The Supreme Court held that a criminal complaint arising from an inter-corporate deposit and pledge arrangement was not maintainable where the contractual documents expressly authorised invocation and sale of pledged shares, including sale to the lender or its group companies. The allegations were inconsistent with those terms, and the record showed the complainant knew of the share sale years earlier but delayed filing the complaint until much later. On these facts, the dispute was essentially civil and the complaint did not disclose the basic ingredients of the alleged offences. Criminal prosecution was therefore an abuse of process and liable to be dismissed. Case-Laws Indian Laws Fri, 28 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437197