DHANRAJ N ASAWANI Vs. AMARJEETSINGH MOHINDERSINGH BASI

JUDGEMENT

(1.) Leave granted.

(2.) This appeal arises from a judgment dtd. 16/11/2021 of a Division Bench of the High Court of Judicature at Bombay by which it has quashed FIR No 806 of 2019 lodged by the appellant for offences punishable under Ss. 420, 406, 409, 465, 467, 468 and 471 read with Sec. 34 of the Indian Penal Code("IPC") at Police Station Pimpri, Chinchwad.

(3.) The first respondent was the Chief Executive Officer of Seva Vikas Co-operative Bank, registered under the provisions of the Maharashtra Co-operative Societies Act, 1960 ("1960 Act"). The second respondent is the former Chairperson of the bank. Several complaints were lodged by individuals, members, shareholders, and depositors of the bank against the management alleging acts of cheating and misappropriation of funds. On the basis of the complaints, the Economic Offences Wing("EOW") at Pimpri-Chinchwad registered an FIR and conducted investigations in January 2019 and thereafter. FIR Nos. 235 and 241 of 2019 were registered at the behest of the bank for offences punishable under Ss. 406 and 420 read with Sec. 34 of the IPC. During the course of the investigation, the EOW issued a communication on 16/2/2019 to the District Sub Registrar, Co-operative Societies, Pune, inter alia, seeking details and information regarding the forensic audit, credit policy, collateral policy and loan policies, and the RBI guidelines pertaining to the affairs of the bank.