Surendran Gopalan Nair And ANR v. State Of Maharashtra And ANR

Digitally signed by DINESH SADANAND SHERLA Date:

2024.04.26 11:14:22 +0530 DINESH SADANAND SHERLA

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CRIMINAL APPELLATE JURISDICTION WRIT PETITION NO. 1271 OF 2024 1.

Surendran G. Nair 2.

Vishal S. Nair

...Petitioners

Versus

1.

The State of Maharaashtra 2.

Krishnakumar S. Agarwal

...Respondents

Mr.P.G. Sabnis with Ms Kashmira Khedekar for the Petitioner. Ms Rutuja Ambekar, APP for the Respondent.

Ms Devashri G. Karandikar for Respondent No.2.

CORAM

:

PRAKASH D. NAIK & N. R. BORKAR, JJ.

DATE :

23.04.2024.

PC:- 1.

The present petition under Article 226 of the Constitution of India read with Section 482 of the Code of Criminal Procedure is ,led to quash First Information Report (FIR) No.117 of 2014 dated 30.08.2014 registered at Colaba Police Station, Mumbai (on transfer to E.O.W., Unit-III, Mumbai re-registered as FIR No.74 of 2014) for the o9ences punishable under Sections 120-B, 406 and 420 of the Indian Penal Code and the criminal proceedings arising out of said FIR being C.C.No.168/PW/2015 and C.C.No.474/PW/2017 pending in the Court of Additional Chief Metropolitan Magistrate, 47th Court, Esplanade, Mumbai. 2.

The aforesaid crime came to be registered against the petitioners at the instance of respondent No.2/complainant. The complainant is CEO of M/s. Responsive Industries Ltd. According to the complainant, they were in need of loan to 1/4

augment their business. It is alleged that the present petitioners and other co-accused had duped them to the tune of Rs.7.5 crores on the pretext that they would arrange loan of Rs.500 crore for them from SBI.

3.

The quashing of FIR and the criminal proceedings is sought on the ground that there has been an amicable settlement between the parties.

4.

The learned counsel for the petitioners and respondent No.2 jointly submit that the parties have amicably settled their dispute and ,led the consent terms to that e9ect alongwith present petition. It is submitted that the petitioners are going to pay Rs.2.5 Crores to respondent No.2 within two months from the date of quashing of the criminal proceedings in question. It is submitted that no purpose would be served by keeping the prosecution alive, in view of the settlement arrived at between the parties.

5.

The respondent No.2 is present in the Court. He has tendered the consent aAdavit along with copy of Resolution dated 5.4.2024 passed by the Board of Directors of M/s.Responsive Industries Limited authorising him to extend consent for quashing of criminal proceedings in question. He con,rms about the settlement arrived at with the petitioners, and the contents of the consent aAdavit dated 2.4.2024, wherein he has stated that he has no objection if the criminal case in question against the petitioners is quashed. 2/4

6.

The genesis of the crime appears to be ,nancial dispute between the parties. The allegations are totally personal in nature. In view of the settlement between the parties, the respondent No.2 is not going to support the prosecution case against the petitioners and therefore, the possibility of conviction is remote and bleak. Considering the overall facts and circumstances, it would be expedient to quash the FIR and the criminal proceedings qua the petitioners. In the result, the following order is passed.

ORDER

a] Criminal Writ Petition is allowed.

b] The proceedings in C.C.No.168/PW/2015 and C.C.No.474/PW/2017 pending in the Court of Additional Chief Metropolitan Magistrate, 47th Court, Esplanade, Mumbai arising out of FIR No. 117 of 2014 dated 30.08.2014 registered at Colaba Police Station, Mumbai (on transfer to E.O.W., Unit-III, Mumbai re-registered as FIR No.74 of 2014) for the o9ences punishable under Sections 120-B, 406 and 420 of the Indian Penal Code are quashed and set aside qua the petitioners, subject to payment of costs of Rs.50,000/- each by the petitioners. c] The petitioners shall pay the costs to the Advocates' Association of Western India Generation Next within a period of three weeks from the date of uploading of this 3/4

order and submit the receipt of same in the Registry of this Court. The details of the bank account for payment of costs are as under:

Account Name :

Advocates' Association of Western India Generation Next Account Number :

000110110007807 Bank Name :

Bank of India Branch Name :

Mumbai Main IFSC Code :

BKID0000001 (N.R. BORKAR, J.) (PRAKASH D. NAIK, J.) 4/4