Alexander Thomas, J.

1. The prayer in this Criminal Miscellaneous Case instituted under Sec. 482 of the Code of Criminal Procedure seeking invocation of the inherent powers conferred on this Court as per that provision, is for an order from this Court to quash the impugned Annexure-A1 FIR in Crime No.1139/2014 of Konni Police Station, Pathanamthitta District. The impugned crime has been registered against the petitioners for offences punishable under Sec. 3(2) r/w Secs. 17 and 18 of the Kerala Money Lenders Act 1958 and Sec.45S of the Reserve Bank of India Act 1934. The crime has been registered on the basis of Annexure-A1(a) letter dated 15/05/2012 sent by the Deputy General Manager of Reserve Bank of India to the Director General of Police, Economic Offences Wing, Police Head Quarters, Thiruvananthauram. It has been intimated in the said letter that the partnership firm called "Pathanamthitta Popular Finance" owned by the petitioners has been engaged in financial activities such as extending gold loans, Foreign Exchange etc. and that public funds are being collected in the name of "Popular Traders" a sister concern of the aforestated M/s.Popular Finance, which is in contravention of Sec. 45S of the RBI and accordingly, the Deputy General Manager of the RBI had requested the State police authorities to take appropriate action in that matter. Likewise, Annexure-A2(b) letter dated 16/07/2012 was also addressed by the Deputy General Manager of Reserve Bank of India to the Commissioner of Commercial Taxes, Govt.of Kerala, Thiruvananthapuram. It is also on the same lines as in the aforestated letter dated 15/05/2012. The Commissioner of Commercial Taxes, Government of Kerala acted on the said intimation given by the Reserve Bank of India and has duly instituted a complaint before the Chief Judicial Magistrate's Court, Pathanamthitta against the petitioners herein and three others under Section 58B (5A) of the RBI Act for the alleged offence under Section 45S of the RBI Act. It is pointed out that the learned Magistrate has taken cognizance of the said offence and the case has been numbered as Summary Trial Case, S.T.No.416/2013 on the file of the Chief Judicial Magistrate Court, Pathanamthitta and that the matter is posted for framing of charges against the accused therein etc.

2. The sheet anchor of the contentions raised by the petitioners in this case is that on the same set of facts, a complaint as envisaged in terms of Section 58B(5A) of the RBI Act has already been duly instituted before the Chief Judicial Magistrate's Court as evident from Annexure-A2/Annexure-A2(a) and therefore the impugned criminal proceedings in Annexure-A1 Crime No. 1139/2014 of Konni Police Station for the same set of facts is clearly not maintainable etc. The main contentions raised by the petitioners are as follows:

" 1. There is a legal bar under law for the Magistrate to take cognizance of an offence under Section 45-S of the Reserve Bank of India on the basis of a police report.

2. The provisions of Section 45-S has not been violated by the petitioners. Even if it is accepted that the firm "Popular Traders" has accepted deposits, the firm will not come within the ambit of the Reserve Bank of India Act for the reason that the said firm is not engaged in any financial activities as described in Section 45-I(c) of the said Act.

3. Section 3(2) r/w Sections 17&18 of the Kerala Money Lenders Act, 1958 are not attracted on the face of the record. Section 3(2) of the Kerala Money Lenders Act pertains to a bar on a person, firm or joint family or unincorporated association of individuals from carrying on business as money-lender without obtaining a licence under the said Act. Section 17 and 18 deals with penalties for such breach or contravention. The police do not have a case that the petitioners are conducting illegal money lending business without obtaining a license under the said Act. The provisions of the said Act has been incorporated only to h