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TMI Blog2015 (8) TMI 1535X X X X Extracts X X X X X X X X Extracts X X X X ..... ociety at large - If the prosecution against the economic offenders are not allowed to continue, the entire community is aggrieved. The High Court while exercising its inherent power ignored all the facts viz. the impact of the offence, the use of the State machinery to keep the matter pending for so many years coupled with the fraudulent conduct of the respondent - the order passed by the High Court is set aside and the trial court is directed to proceed with the matter expeditiously in accordance with law - Appeal allowed - decided in favor of appellant. - CRIMINAL APPEAL NO. 1496 OF 2009 - - - Dated:- 28-8-2015 - MR. DIPAK MISRA AND MR. R. BANUMATHI, JJ. For the Appellant : Mr. B. Krishna Prasad, AOR For the Respondent : Mr. Shankar Divate, AOR JUDGMENT R. BANUMATHI, J . This appeal is preferred challenging the order of the High Court of Delhi in Crl. M.C. No.2083 of 2006 dated 10.02.2009, in and by which, the High Court exercising its inherent power under Section 482 Cr.P.C. quashed the criminal proceedings in RC No.3 of 1987 under Sections 420, 467, 468 and 471 IPC read with Section 120-B IPC and all proceedings consequent thereto qua the respo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... examined. However on 29.01.2005, Maninder Singh arrived at a settlement with the New Bank of India, Ludhiana and on 29.11.2005, the respondent-accused filed an application before the CMM for pleading guilty for the offences alleged, but on the date of hearing i.e. 08.12.2005, the accused respondent Maninder Singh did not appear in the court and his advocate withdrew the aforesaid application. Respondent herein moved a Crl. Misc. Petition bearing No.2083 of 2006 under Section 482 Cr. P.C. for quashing of the FIR against him on the ground that a settlement is arrived between the parties and amounts are repaid to bank. The High Court placing reliance on Nikhil Merchant vs. CBI Anr., (2008) 9 SCC 677, vide impugned order dated 10.02.2009 allowed the petition and thereby directed that criminal proceedings in RC No.3 of 1987 and all consequential proceedings thereto against the respondent shall stand quashed. The appellant-CBI herein assails the correctness of the order passed by the High Court. 4. Ms. Pinki Anand, learned Additional Solicitor General contended that Nikhi Marchant case is not an authority on the question involved and in Rumi Dhar (Smt.) vs. State of West Bengal An ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ludhiana has sanctioned various credit facilities to respondent and Suresh Kumar Puri viz.: (i) Packing Credit against confirmed orders; (ii) Advance against anticipated cash incentive/duty draw back; (iii) Advance against cash incentive and duty draw back and (iv) Advance against foreign bill purchase. Chargesheet refers to various transactions by which bank amounts were credited to the accounts of the said firms based on forged documents. 8. Accused-respondent Maninder Singh and his brother Arvinder Singh did not cooperate with the investigating agency and were absconding and declared proclaimed offenders by CMM, Tis Hazari, Delhi vide order dated 03.10.1989. In the trial, thirty nine witnesses were examined and thus substantial progress was made. In fact, on 29.11.2005, respondent-accused filed an application before the trial court for pleading guilty; but the accused did not appear in the court and his advocate withdrew the aforesaid application. 9. Placing reliance upon Nikhil Merchant s case, the High Court quashed the criminal proceedings qua the respondent on the ground that the respondent has settled the matter with the bank. In Nikhil Merchant s case the dispute bet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the society at large. To quash the proceeding merely on the ground that the accused has settled the amount with the bank would be a misplaced sympathy. If the prosecution against the economic offenders are not allowed to continue, the entire community is aggrieved. 12. In recent decision in Vikram Anantrai Doshi (supra), this Court distinguished Nikhil Merchant s case and Narendra Lal Jain s case where the compromise was a part of the decree of the court and by which the parties withdrew all allegations against each other. After referring to various case laws under subject in Vikram Anantrai Doshi s case, this Court observed that cheating by bank exposits fiscal impurity and such financial fraud is an offence against society at large in para (23), this Court held as under:- 23. Be it stated, that availing of money from a nationalized bank in the manner, as alleged by the investigating agency, vividly exposits fiscal impurity and, in a way, financial fraud. The modus operandi as narrated in the chargesheet cannot be put in the compartment of an individual or personal wrong. It is a social wrong and it has immense societal impact. It is an accepted principle of handling of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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