High Courts may quash FIRs under Section 482 CrPC only in exceptional circumstances, with a prima facie case against accused warranting investigation.

ORDER

Chandra Dhari Singh, J. (Oral)--The present writ petition has been preferred under Article 226 of the Constitution of India read with Section 482 of the Code of Criminal Procedure, 1973 (hereinafter, referred to as the "Code") praying for quashing the case FIR No. 93/2021 registered at PS - EOW, Tilak Marg against the Petitioner under Sections 406/420/120B of the Indian Penal Code, 1860.

2. The brief facts of the case, as per the prosecution, are that the present FIR was lodged on 3rd July 2021, under the provisions as mentioned above, on the complaint of Sh. Atul Kant Chaturvedi s/o Sh. P.N. Chaturvedi, Authorised Representative of M/s Perfect Synergy Advisory Pvt, having its registered office at 1501, Chiranjiv Tower, 43, Nehru Place, New Delhi.

3. The Complainant alleged that accused persons approached and represented to him that their company M/s Sagar Infra Rail International Limited is involved in Lucrative Railway Projects for Indian Railway having govt. clients and international projects in Dubai etc. They further conveyed to him that they were getting Rs.100 Crores from their clients within 6 to 9 months for their work done on the projects. Under inducement by the accused persons on 19th May 2011, an amount of Rs.3.50 Cr. was given to the accused to be repaid within 6 months and a "Short Term Loan Agreement" dated 19th May 2011 was accordingly executed.

4. It is alleged that during execution of the Short Term Loan Agreement, the accused persons handed over title deeds of their five properties, one being in Delhi and others in Hyderabad. Accused persons failed to repay the amount as per their promise and agreement. When the complainant followed up with the accused persons for repayment of money, the accused persons surreptitiously sought the original title deeds of the property situated at Plot no. B-1 8/2-B, area measuring 350sq. yards, Shyam Vihar, Phase II, Najafgarh, Delhi for selling the same for the purpose of repayment to the complainant. The accused persons issued two cheques to the complainant, relying on the cheques given by them, the complainant handed over the original title deeds of the Property at Najafgarh, Delhi to the accused persons. However, no payment was made by the alleged accused persons and the cheques issued by them were dishonoured for want of the account having "insufficient funds/Exceeds arrangements". The complainant has alleged that the accused is showing his intention to cheat right from the beginning.

5. Learned Counsel for the Petitioners submitted that the petitioners are innocent and have been falsely implicated in the instant case. The foul play in the registration of the impugned FIR is evident from the fact that it has been registered after a delay of almost a decade, and the apparent motivation of the Respondent No.2 behind registration of FIR is the frustration of civil recovery proceedings already underway since the initiation of insolvency proceedings, against the Respondent No.3 vide order dated 8th August 2019 passed by the National Company Law Tribunal, Hyderabad Bench, under Section 7 of the Insolvency & Bankruptcy Code, 2016 read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 in the case of `State Bank of India v. M/s. Sagar Infra Rail International Limited'. It is contended that the vicarious liability of the Respondent No.3 company has been sought to be fastened upon the Petitioners without naming it as the principal accused in the impu