The main legal point established in the judgment is that in cases predominantly civil in nature, where the accused have settled the dues with the bank, and there is no evidence of forgery or cheating, the court may consider quashing the proceedings.

JUDGMENT

(Prayer: Criminal Original Petition is filed under Section 482 of the Code of Criminal Procedure, to call for records in C.C.No.4066 of 2015 on the file of Additional Chief Metropolitan Magistrate, Egmore, Chennai, quash the proceedings as against the petitioner herein.)

1. This Criminal Original Petition has been filed to quash the proceedings in C.C.No.4066 of 2015 (Old C.C.No.42 of 2013), on the file of the Additional Chief Metropolitan Magistrate Court, Egmore, Chennai.

2. Initially, the case proceeded against four persons viz., A1- M/s.Eventus Integrted Management Private Limited (Hereinafter referred to as ''Company'' for sake of convenience) representing by its Managing Director (A2); A2 and A3 (Husband and Wife), the Managing Director and Director of the Company, A4, the then Branch Manager of the Indian Bank, George Town Branch, Chennai and one A.L.Nagarathinam, the then Credit Monitoring Officer, Indian Bank, MGT Branch, Chennai. Since the competent authority declined to accord sanction for prosecution to prosecute A.L.Nagarathinam (shown in the Column No.2 in the charge sheet), he was not sent for trial. Hence, charge sheet filed by the 1st respondent against A1 to A4 and the same was taken on file as C.C.No.42 of 2013 by the learned XI Additional City Civil & Sessions Judge cum Special Judge for CBI Cases, Chennai. During trial, A4 filed Quash Petition before this Court in Crl.O.P.No.8851 of 2014 (T.R.Narayanan Versus State rep. by the Inspector of Police, Central Bureau of Investigation SCB, Chennai reported in 2015 SCC OnLine Mad 8329) and this Court by order, dated 23.09.2015 quashed the proceedings against him. Since the case against A4, a public servant was quashed by this Court and as such no public servant in C.C.No.42 of 2013, the case was transferred to the file of the Additional Chief Metropolitan Magistrate Court, Egmore, Chennai and renumbered as C.C.No.4066 of 2015. During trial, final arguments heard and written submissions received from both sides and thereafter, the trial Court altered charges. After alteration of charges, the Company (A1) filed a petition under Section 217 Cr.P.C., to recall witnesses and cross examine them and the same was allowed. Accordingly, the witnesses are being recalled and cross examined by the defence side. At this stage, the present Criminal Original Petition has been filed.

3. Gist of the case is as follows:-

(i)A case in RC.4/S/2012/CBI/SCB/Chennai was registered by the 1st respondent on 30.04.2012, based on the complaint, dated 28.04.2012 preferred by the 2nd respondent, the then General Manager/Zonal Manager, Indian Bank, Zonal Office, Chennai. The brief facts of the case is that the Company (A1) represented by its Managing Director (A2) and Director (A3) were sanctioned with a limit of Rs.250 lakhs under Over Draft (Hereinafter referred to as ''OD'' for sake of convenience) facilities against Book Debts on 28.10.2006 by Indian Bank, erstwhile Circle Office, Chennai (Presently Zonal Office, Chennai North) against Hypothecation of Book Debts and the personal guarantee of above said Board of Directors and the Corporate Guarantee of M/s.Fountain Head Communications Private Limited. During the year 2010, the Branch Manager, Indian Bank, George Town Branch observed that the turnover was not in tune with the limits sanctioned. The Company (A1) did not keep its promise to regularize the over dues and the account became NPA on 30.06.2010. The Board of Directors of the Company (A1) cheated Indian bank by submitting fudged balance sheets and bogus statements of Book Debts and the Bank is exposed to a loss of Rs.236.98/- lakhs on account of their acts.

(ii)The 1st respondent conducted thorough investigation and after completion of the same, filed charge sheet under Section 173 Cr.P.C against A1 to A4 for offence under Sections 120-B r/w 420, 468, 471 IPC and Section 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988 (Hereinafter referred