JUDGMENT

Arvind Singh Sangwan, J. - Prayer in this petition is for quashing of FIR No.7 dated 05.01.2014 under Sections 405, 420, 120-B of the Indian Penal Code (for short 'IPC'), registered at Police Station City Kharar, District SAS Nagar (Mohali) and all the consequential proceedings arising therefrom.

2. Brief facts of the case are that the petitioner is a practising lawyer and a legal retainer of some banks and other financial corporations. The impugned FIR was registered on a complaint given by Senior Branch Manager, Vijaya Bank, Branch Kharar, against one Neelam Sahni, proprietorof M/s Ganpati Enterprises and her guarantor and mortgagor Sanjeev Kumar, with the allegations that they have embezzled the loan amount of Rs. 10.83 lacs, availed by them from the complainant-Bank on 09.04.2008 and despite there being a mortgage on land, by concealing it from the Bank, without obtaining permission, they have further sold the land and therefore, they have committed the offence under Sections 403, 406, 420 IPC. It is further stated in the FIR that Neelam Sahni, proprietor of M/s Ganpati Enterprises applied for a loan of Rs.9.00 lacs from Vijaya Bank, Branch Kharar and Sanjeev Kumar stoo