Religare Finvest Limited vs State of NCT of Delhi

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2023 Supreme(SC) 857

S. RAVINDRA BHAT, ARAVIND KUMAR
Religare Finvest Limited – Appellant
Versus
State of NCT of Delhi – Respondent

Advocates appeared:
For the Appellant(s) : Mr. Mukul Rohatgi, Sr. Adv. Mr. Jayant Bhushan, Sr. Adv. Mr. Amit Jajoo, Adv. Ms. Sushmita Gandhi, Adv. Mr. Malak Manish Bhatt, AOR Ms. Neeha Nagpal, Adv. Ms. Vatsala Pant, Adv. Ms. Samridhi, Adv. Mr. Jana Kalyan Das, Sr. Adv. Mr. Rana Mukherjee, Sr. Adv. Mr. Sandeep Devashish Das, AOR Mr. Samarth Mohanty, Adv. Ms. Anandini Kumari, Adv.
For the Respondent(s): Mr. Jana Kalyan Das, Sr. Adv. Mr. Rana Mukherjee, Sr. Adv. Mr. Sandeep Devashish Das, AOR Mr. Samarth Mohanty, Adv. Ms. Anandini Kumari, Adv. Mr. Shreekant Neelappa Terdal, AOR Mr. Bhanwar Pal Singh Tandon, Adv. Mr. Susheel Tomar, Adv. Mr. Chetan Jadon, Adv. Mr. Malak Manish Bhatt, AOR

JUDGMENT :

S. RAVINDRA BHAT, J.

1. These appeals¹ [Crl. Appeal No. 2242/2023 and Crl. Appeal No. 2243/2023] arise from a final order² [Dated 24.3.2023 in Crl. M.C. No. 3173 of 2021] of the Delhi High Court rejecting a petition for quashing criminal proceedings, filed by the DBS Bank India Limited (second respondent in the first appeal/appellant in second the appeal) (hereafter “DBS”). In the two appeals, Religare Finvest Limited (hereafter “complainant” or “RFL”) and DBS have challenged the impugned order. To be more specific, they are also impleaded as second respondents in each other’s appeal.

2. RFL filed a commercial suit³ [Comm. No. 940/2018] seeking to recover Rs. 791 Crores from (the erstwhile) Laxmi Vilas Bank (hereafter “LVB”). The claim was based on the allegations that LVB misappropriated Fixed Deposits (“FDs”) furnished as security by RFL and its group companies, namely RHC Holding Pvt. Ltd. (hereafter “RHC Holding”) and Ranchem Pvt. Ltd. (hereafter “Ranchem”) to secure short-term loans.

3. Subsequently, on 23.9.2019, RFL lodged a criminal complaint asserting that officials of LVB had conspired with RHC Holding and Ranchem. This led to the registration of FIR⁴ [FIR No. 189/

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2023 Supreme(SC) 857

S. RAVINDRA BHAT, ARAVIND KUMARReligare Finvest Limited – AppellantVersusState of NCT of Delhi – Respondent

Cases Referred (9)

S. RAVINDRA BHAT, ARAVIND KUMAR
Religare Finvest Limited – Appellant
Versus
State of NCT of Delhi – Respondent