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TMI Blog2020 (2) TMI 1498X X X X Extracts X X X X X X X X Extracts X X X X ..... ners for withdrawal of the prosecution in the changed circumstances within three weeks hence but, the same should not be construed as an expression of any opinion by this Court or mandate to the Board for withdrawal of the prosecution. It is left open to the wisdom of the complainant to take a decision as they deem fit and proper on the prayer made by the petitioners. Liberty is also given to the petitioners to approach this Court under Section 482 of Cr.P.C., if they are so advised, seeking quashment of the proceeding on merit as this Court has not decided the petition under Section 482 of Cr.P.C. for quashment after the decision of the Board - Application disposed off. - CRLMC No.1972 of 2019 - - - Dated:- 20-2-2020 - S. Pujahari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s agreed, alleging breach of the same, a complaint was filed against it alleging commission of offence under Section 74(3) of the Code wherein cognizance of the said offence has been taken against the petitioners. The petitioners have challenged the same on the ground that non-compliance on their part was not due to their fault but, for non-compliance of the condition precedent for payment of the upfront amount by the other stakeholders. Since in this case more time has been given for complying with the aforesaid for payment of upfront amount of thirty days more, the Opposite Party-Board could not have made compliant and as such, the complaint being premature, is liable to be quashed. 4. The same has, however, been contested by the Opp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Code. But, thereafter, the Resolution Applicant, who are the petitioners committed breach of the payment of upfront amount within the time stipulated i.e. by 17.07.2018 as per resolution No.1, which exposed them to criminal prosecution and as such, they are indicted under Section 74(3) of the Code. Hence, the complainant-Opposite Party having been made a complaint and prima facie, the petitioners having committed the contravention, the trial court took cognizance of the same. The ground that is taken on the application by other stakeholders was not performed and as such, the resolution of upfront amount could not pay in time for non-compliance of the condition precedent, as a defence plea, is without any substance. Furthermore, the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d such prayer on the ground that cognizance having been taken by the Special Judge as prima facie, the offences are made out in view of the breach, the Court in exercise of the power under Section 482 of Cr.P.C. should not quash the prosecution, inasmuch as, it is well settled in law that when prima facie offence is made out, the Court in exercise of the power under Section 482 of Cr.P.C. should not interfere with the order of cognizance and the proceeding at the threshold. 7. To appreciate the contentions of the learned counsel for the parties, it would be apposite to look into the subsequent development in the matter as it is stated that in the meanwhile, the upfront amount has already been paid and the National Company Law Appellate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t amount has already been paid and the Resolution Applicant has already complied with the terms, the continuance of the prosecution hereinafter shall be an abuse of the process of the Court and for that, the Court should quash the same, which, however, has been vehemently opposed by the opposite parties on the ground that when prima-facie the offence has already been committed, this Court should not interfere with the order of cognizance on the said ground. 9. Considering the observation of the NCLAT, but without expressing any opinion with regard to the exercise of power under Section 482 of Cr.P.C. on merit and as it is stated that the Opposite Party-Board has already been approached for withdrawal of the prosecution, it is observed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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