ORDER

The petitioners herein are a registered company and its Directors, and they have alleged to have defrauded the Central Bank of India, Coimbatore. A case has been duly registered and investigated by the first respondent for offences U/s.120(B) r/w 420 and 420 I.P.C.

2. The final report of the C.B.I. has been filed and the accused persons have now approached this Court with the present petition for quashing final report on the ground that the entire loan dues have been settled in OTS and NOC too has been issued by the 2^nd respondent.

3.1 The CBI has filed its counter, but not the 2^nd respondent. The allegation of the prosecution is that the first petitioner is a developer of villas, and that it had obtained a loan of Rs.5.0 crores for purchase of construction materials necessary for the construction of 26 houses/villas inter alia on the security of an equitable mortgage created over its immovable property. This amount was not utilised fully as only 3 or 4 incomplete villas alone are available, and that substantial loan amount was diverted for other purposes. On 12.04.2018, the loan itself was declared NPA and on 03.11.2018, the loan account was declared fraud. And the second resp