Suresh C. Singal vs State of Gujarat

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Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(SC) 641

ABHAY S. OKA, AUGUSTINE GEORGE MASIH
Suresh C. Singal – Appellant
Versus
State of Gujarat – Respondent

Advocates appeared:
For the Appellant(s) : Mr. Bhadrish Raju, Adv. Mr. Mahesh Agarwal, Adv. Mr. Ankur Saigal, Adv. Ms. . Kajal Dalal, Adv. Mr. Kaustubh Singh, Adv. Mr. Dhanesh R. Patel, Adv. Mr. E. C. Agrawala, AOR
For the Respondent(s): Mrs. Aishwariya Bahti, A.S.G. Mr. Mukesh Kumar Maroria, AOR Mrs. Kiran Suri, Adv. Mr. Mohan Prasad Gupta, Adv. Mr. V.v.v. Pattabhi Ram, Adv. Mr. Sarthak Karol, Adv. Ms. Satvika Thakur, Adv. Mr. Jagdish Chandra Solanki, Adv. Mr. Ravindra Kumar, Sr. Adv. Ms. Divya Roy, AOR Ms. Swati Ghildiyal, AOR Ms. Deepanwita Priyanka, Adv. Ms. Devyani Bhatt, Adv. Ms. Srujana Suman Mund, Adv.

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JUDGMENT :

(AUGUSTINE GEORGE MASIH, J.)

1. The Appellants have challenged the Order dated 05.05.2017 passed by the learned Single Judge of the High Court of Gujarat in Special Criminal Application (Quashing) No.5629 of 2015, whereby a writ petition under Article 226 of the Constitution was preferred by the Appellants seeking quashing of FIR being RC No.13(E)/2008-CBI dated 08.12.2008 at Police Station, CBI, BS & FC, Mumbai as well as the charge sheet dated 26.05.2010 was dismissed.

2. The bare necessary facts in the present case are that between 1998-2005 Bank of Maharashtra sanctioned multiple credit facilities to the Appellants due to their strong financial standing. Beginning June 2005 onwards, the Appellant companies faced a financial crunch due to adverse market conditions, including the 2004 Surat floods, leading to the bank classifying their loans/credit facilities as Non-Performing Assets (hereinafter referred to as “NPA”). Bank of Maharashtra proceeded to file applications for recovery of the debt before the Debt Recovery Tribunal, Ahmedabad (hereinafter referred to as “DRT”).

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