TaxTMI 
TaxTMI 
2013 (10) TMI 1427
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....ication preferred by the respondent, Jagjit Singh, under Section 482 of the Criminal Procedure Code, 1973 and quashed the proceedings being G.R. Case No.1508 of 2006 pending before the 12th Court of Metropolitan Magistrate, Calcutta. 3. The said case relates to CBI:SPE:ACB:Kolkata Case No.R.C. 12(A)/2003 under Sections 420/471 of the Indian Penal Code. The First Information Report(FIR) in question was lodged on the basis of a reliable information which was received in the office of the SP, CBI, ACB, Kolkata to the effect that one Shri Sanjib Kumar Chatterjee while functioning as Sr. Manager, Indian Overseas Bank (IGS), Shreemani Market Branch, Kolkata during the year 1998-2000 had entered into a criminal conspiracy with private persons, ....
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....suance of the said criminal conspiracy Shri Jagjit Singh as Director of M/s. Tag Reachers (P) Ltd. approached Shri Sanjib Kumar Chatterjee, Sr. Manager in the month of March, 2000 for a demand loan of Rs. 32.50 lakhs against the security of National Saving Certificate/Kishan Vikash Patra of the face value of Rs. 50 lakhs. The said securities were in the form of NSC for Rs. 7 lakhs and Kishan Vikash Patra of Rs. 18 lakhs standing in the name of the aforesaid Shri Raj Kumar Aggarwal and Kishan Vikash Patra of Rs. 25 lakhs standing in the name of the aforesaid Shri Virendra Jain. All the NSCs and KVPs were alleged to be forged and fabricated and were not issued from the Middleton Row and Park Street Post Offices from where they were shown to h....
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.... punishable under Sections 120B/420/467/468/471/472 IPC and Section 13(1)(d) read with Section 13(2) of Prevention of Corruption Act, 1988 by the aforesaid accused persons, namely, Shri Sanjib Kumar Chatterjee, Sr. Manager, Indian Overseas Bank, Shri Jagjit Singh, Director of M/s. Tag Reachers (P) Ltd., Shri Raj Kumar Agarwal, Shri Virendra Jain and unknown officers of the Regional Office, Business Department of Indian Overseas Bank, Kolkata, a regular case was registered against them and the said case was entrusted to Shri B.R. Roy Inspector of Police, CBI, ACB, Kolkata for Investigation. 9. It appears that the respondent, Jagjit Singh thereafter settled the dispute with the Indian Overseas Bank and paid the amount, pursuant to an order....
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....f this court's inherent jurisdiction, the same be quashed bond at once. This disposes of C.R.R. No.719 of 2010." 11. Learned senior counsel for the appellant submitted that by a mere settlement between two offenders, the personal intent of criminal conspiracy under Sections 420 and 471 IPC which are even otherwise not compoundable cannot be compounded. According to him, the impugned order passed by the learned Judge of the Calcutta High Court is in the teeth of well established and settled law laid down by this Court. 12. Per contra, according to the respondent, it is always open to the Court to quash the criminal proceedings if the dispute is of civil nature and if matter is settled between the parties. It was contended that....
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....his Court, the larger Bench in Gian Singh (supra) held as follows: "61. The position that emerges from the above discussion can be summarised thus: the power of the High Court in quashing a criminal proceeding or FIR or complaint in exercise of its inherent jurisdiction is distinct and different from the power given to a criminal court for compounding the offences under Section 320 of the Code. Inherent power is of wide plenitude with no statutory limitation but it has to be exercised in accord with the guideline engrafted in such power viz.: (i) to secure the ends of justice, or (ii) to prevent abuse of the process of any court. In what cases power to quash the criminal proceeding or complaint or FIR may be exercised where the off....
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....tion is remote and bleak and continuation of the criminal case would put the accused to great oppression and prejudice and extreme injustice would be caused to him by not quashing the criminal case despite full and complete settlement and compromise with the victim. In other words, the High Court must consider whether it would be unfair or contrary to the interest of justice to continue with the criminal proceeding or continuation of the criminal proceeding would tantamount to abuse of process of law despite settlement and compromise between the victim and the wrongdoer and whether to secure the ends of justice, it is appropriate that the criminal case is put to an end and if the answer to the above question(s) is in the affirmative, the Hi....