JUDGMENT :

VIKRAM NATH, J.

1. Leave granted.

2. The present appeals arise out of order dated 19.11.2024 passed by the Madurai Bench of the High Court of Madras in Crl. O.P. (MD) Nos. 586 and 595 of 2024, whereby the High Court dismissed the petitions filed by the appellants under Section 482 of the Code of Criminal Procedure, 1973¹ [Cr.P.C.] seeking quashing of criminal proceedings initiated against them for offences under Section 120B read with Sections 420, 468, and 471 of the Indian Penal Code, 1860² [IPC] and under Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988.³ [PC Act]

3. The facts relevant to the present appeals are as follows:

3.1. The appellants herein are arrayed as accused nos. 3 and 6 in C.C. No. 16 of 2006, arising out of FIR No. RC MA1 2005 0020, registered on the basis of a complaint dated 27.04.2005 lodged by the respondent no. 2-Bank. It was alleged that the accused persons caused wrongful loss to the Bank to the tune of Rs. 25.89 lakhs, leading to the filing of the charge sheet against nine accused, including the appellants.

3.2. The allegations against appellant no. 1, N.S. Gnaneshwaran, are that he was instrumental in orchestrating