VASHISHT INFRATECH PVT. LTD. Vs. STATE

JUDGEMENT

(1.) This is a writ petition under Article 226 of the Constitution of India r/w. Section 482Cr.P.C. filed by the petitioners for quashing of FIR No.0767/15 u/s 420/468/471/34/120B IPC, PS Najafgarh, New Delhi.

(2.) While praying for quashing of FIR, the petitioner has pleaded that petitioner no.1 who is a Pvt. Ltd. company through its Director/AR Mr. Karan Vashishta @ Madhup Vashisht i.e. petitioner no.2 availed a Cash Credit Limit of Rs.2.97 Crore from the respondent no.2 bank vide A/C no. 1519008700002005 and due to financial crunch the petitioner no.1 failed to deposit the amount in time.

(3.) It is further submitted that bank official filed a complaint against the petitioners no.1 to 4 and on the basis of a complaint filed by the Principal Officer G.L. Arora, Chief Manager, Punjab National Bank and an FIR bearing no. 0767/2015, U/Sec 420/468/471/34/120-B IPC, P.S. Najafgarh was registered. Thereafter, the case was transferred to EOW Mandir Marg, N. Delhi and the same is pending investigation.