Borrower's malicious criminal proceedings against lender quashed by HC.

The High Court quashed the criminal proceedings initiated by the borrower against the lender, Indiabulls, under Section 156(3) CrPC, alleging money laundering. The court found that the borrower maliciously suppressed material facts, such as the existence of an arbitration clause and ongoing arbitration, to avoid loan repayment and gain leverage in arbitration. The FIRs and ECIR were dismissed, and the court directed that disputes be resolved through arbitration, allowing the petition. .....

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