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V.GOPALA GOWDA, C.NAGAPPAN
Vesa Holdings P. Ltd. – Appellant
Versus
State of Kerala – Respondent
You should assume that the matter was initially treated as a criminal case involving allegations of cheating and conspiracy under the Indian Penal Code (!) (!) (!) (!) (!) (!) (!) (!) (!) . However, the court ultimately quashed the criminal proceedings, indicating that the case was considered to lack sufficient criminal elements and was deemed more appropriate for civil resolution or as an abuse of process (!) (!) (!) (!) (!) (!) (!) (!) (!) .
JUDGMENT
C. NAGAPPAN, J.
1. All these appeals are filed challenging the impugned common order dated 28.1.2011 passed by the High Court of Kerala at Ernakulam in Criminal Misc. Nos.220 to 222 of 2011 whereby the petition filed by the appellants under Section 482 of Criminal Procedure Code seeking to quash the FIR in Crime No.1461/2010 registered by Changanasserry Police Station against the appellants under Sections 417, 418, 420, 120B and 34 IPC was dismissed.
2. The undisputed facts in brief are as follows: The appellant in Criminal Appeal No.2341 of 2011 is a Limited company of which appellants Venkataraman in Criminal Appeal No.2344 of 2011 and appellant Mani Prasad in Criminal Appeal No.2343 of 2011 were Directors and the appellant Chandrasekhran in Criminal Appeal No.2342 of 2011 was the promoter. The Company availed a loan from the Industrial Investment Bank of India and respondent No.3 herein/complainant as the AGM of the said bank at the relevant time, dealt with their loan application and had sanctioned the same. The company defaulted in repayment and wanted to settle the loan amount. The 3rd respondent on retirement from the bank agreed to act as a Consultant of the company i
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