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DBS Bank India Ltd – Appellant
Versus
State Of Kerala, Through Chief Secretary – Respondent
JUDGMENT :
Kauser Edappagath, J.
The petitioner is a banking company registered under the Companies Act 2013, having its registered office in New Delhi, Corporate Office in Mumbai, and branches all over India. The petitioner Bank is engaged inter alia in the business of extending financial facilities to customers under various finance schemes including Jewel Deposit Loan (for short, 'JDL') through outsourcing agencies for sourcing different types of loans from prospective customers.
2. The Vatakara Police Station registered Ext.P3 F.I.R. as Crime No.880/2024 against one Madhajayakumar, who was the Branch Manager of Bank of Maharashtra, Vatakara Branch for the offence under Section 409 of the IPC alleging that he replaced 26,244.20 grams of gold jewels worth Rs.17,20,35,717/- in 42 accounts with counterfeit gold jewels, that had been pledged for obtaining loans by customers of Bank of Maharashtra. After the registration of the crime, the Vatakara police conducted a search and seizure on the premises of the petitioner Bank, Tiruppur Branch and Kanagayam Road Branch, on 22/08/2024, 23/08/2024, 08/10/2024, and 09/10/2024 and seized gold jewels worth more than Rs.5.98 crores, on the ground
Jurisdiction for FIR registration in cognizable offences is not limited by territorial boundaries, allowing for complaints to be filed regardless of where the offence occurred.
Judicial Magistrates must apply scrutiny before directing FIR registration to prevent misuse of the criminal justice system in familial disputes.
Criminal conspiracy in terms of Section 120-B of the Code is an independent offence. It is punishable separately.
Direction for Police investigation – In family disputes triable by Magistrates, especially those involving close relatives, Magistrates should strive to nurture an environment conducive to preserving....
Cheating - Quash of FIR and Proceeding - Complaint relates to a commercial transaction or breach of contract, for which a civil remedy is available, is not by itself a ground to quash criminal procee....
The Reserve Bank of India's guidelines do not confer jurisdiction upon the CBI to investigate bank fraud without prior state consent as mandated by the Delhi Special Police Establishment Act.
Prospective accused lack locus standi to challenge an order directing F.I.R. registration before cognizance is taken, validating the inherent jurisdiction limitations as per Section 528 and Section 1....
Deviation from loan agreements and misappropriation of loan funds constitute a cognizable offence of criminal breach of trust, warranting the registration of an FIR.
Prospective accused cannot challenge the direction for F.I.R. registration and investigation before cognizance, affirming no locus standi in such cases.
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