Court upheld the FIR and emphasized investigation into allegations of systemic cheating in bank loan approvals.

O R D E R

Challenging the FIR in Crime No.112 of 2019 on the file of the Aanaikaaranchathiram Police Station, registered for the offences under Sections 406, 409 and 420 IPC, the present Criminal Original Petition has been filed.

2.It is the case of the prosecution that A1 was working as Appraiser in the de facto complainant Bank from the year 2010. His job is to assesss the purity, quality and weight of the gold jewels pledged by the customers for providing gold loan to them. While so, when a random check was made by the authorities of the Bank, it was found that, out of 40 packets of gold jewels, 12 packets contained fake gold jewels, based on which, 28 gold loans have been sanctioned to the customers who are also arrayed as accused in the FIR. The allegation is that A1, in connivance with the other accused, have cheated the de facto complainant Bank by pledging fake gold jewels for obtaining gold loan and have caused a loss to the Bank to the tune of Rs.80.46 Lakhs. Hence, the FIR.

3.According to the petitioners, though FIR was filed in the year 2019, nothing is moving forward and investigation is not yet complete.

Therefore, they sought for quashing the FIR.

4.However, learned Government Advocate (Crl. Side), on instructions, would submit that the investigation is now at the stage of completion.

5.I have perused the entire FIR. The allegations in the FIR are to the effect that A1, by using his capacity as Appraiser in the Bank, in connivance with the other accused, has given false certificate to fake gold jewels and based on such appraisal, gold loans have been sanctioned to other accused, who are the petitioners herein. Considering the nature of allegations in the FIR, this Court is of the view that the matter has to be probed into during investigation. When there are specific allegations as against the petitioners who are the beneficiaries of the gold loan sanctioned based on the false certificate given by A1, the matter has to be enquired into to unearth the truth. Therefore, this Court is not inclined to interfere into the FIR in exercise of its jurisdiction under Section 528 BNSS , particularly when the investigation is now at the verge of completion.

6.Accordingly, this Criminal Original Petition is dismissed.