A banking entity can be held liable for providing false information under Section 46(1) of the Banking Regulation Act, with the prosecution not prohibited by prior penalties imposed under Section 47A.

JUDGMENT

Anu Malhotra, J. The petitioner, the Punjab National Bank, vide the present petition instituted against the National Capital Territory of Delhi, through its Standing Counsel (Criminal) arrayed as the respondent No.1 and the Reserve Bank of India, arrayed as the respondent No.2 has assailed the impugned order dated 11.3.2019, of the learned Trial Court of the Metropolitan Magistrate-05, Patiala House Courts, New Delhi in CC No.16711-18 whereby the proposed accused persons was sought to be summoned as accused by the respondent No.2 herein, i.e., the Reserve Bank of India, through its complaint No. 16711/18 were summoned in respect of an offence punishable under Section 46 of the Banking Regulation Act, 1949, for the date of hearing 24.5.2019.

2. The said complaint was instituted by the Reserve Bank of India, under Section 200 of the Cr.P.C., 1973, read with Section 47 of the Banking Regulation Act, 1949 on behalf of the Reserve Bank of India, the complainant corporation seeking the prosecution of all the said 11 accused persons for the commission of the offences punishable under Section 46 of the Banking Regulation Act, 1949, read with Section 120B of the INDIAN PENAL CODE , 1860.

3. The proposed accused summoned as accused are arrayed in the Memo of Parties in the Ct. No. 16711-18 which reads to the effect:

"1. PUNJAB NATIONAL BANK

4. Vide order dated 20.5.2019 whilst notice of the petition was issued to the respondent Nos. 1 and 2 to enter appearance, it was observed to the effect:

"The counsel for the second respondent (complainant) on being asked was unable to give any explanation as to why a general reference has been made in the complaint leading to similar general mention in the summoning order to Section 46 of Banking Regulation Act, 1949, without the specific penal clause being indicated.

The second respondent may file response within two weeks. Rejoinder, if required, be filed within the same period.

Be listed on 17th July, 2019. Meanwhile, the proceedings before the trial court shall remain stayed.

Dasti under the signatures of Court Master."

5. Reply to the petition was filed by the respondent No.2 to which the petitioner herein also filed the rejoinder.

6.