NAVEEN MALHOTRA Vs. STATE & ANR

JUDGEMENT

(1.) Crl. M.A. 965/2018 (condonation of delay)

(2.) The complainant-R-2 had filed a complaint with the police contending that the petitioner with the intention of cheating and committing a fraud on the complainant had approached the complainant for the purposes of availing a loan in the sum of Rs. 5.50 crores without having the intention to repay the same. It is contended that a fraudulent representation was made with regard to financial soundness of the accused company as well as its Director and accordingly complainant was induced in advancing a business loan of Rs. 5.50 crores.

(3.) It is contended that it was represented that the accused was sole and exclusive owner of the said property free from all encumbrances. Accordingly, the loan was sanctioned and disbursed after creating a mortgage in favour of the complainant. Subsequently the complainant got to know that the entire property had already been mortgaged with an NBFC. Not only was the property mortgaged with a non-banking financial corporation, the petitioner had even registered sale deeds of separate floors in favour of third parties.