RAJU KURIAN Vs. STATE OF KERALA

JUDGEMENT

(1.) This case has been filed under Sec.482 Cr.P.C . to quash the proceedings against the petitioner/3rd accused in C.C.601/2014 on the file of the Judicial First Class Magistrate Court-III, Kottayam.

(2.) The case against the petitioner and two others were charge- sheeted by the Sub Inspector of police, Kottayam West police station under Secs 403, 406, 420, 468 and 120B r/w 34 IPC .

(3.) Prosecution case is that 1 st accused availed a loan of Rs.12.5 Lakhs from the Indian Overseas Bank (IOB) Kottayam, T.B.Road branch for purchasing an Innova car. The 3rd respondent/de facto complainant who is the Manager of the bank issued two demand drafts for Rs.9 Lakhs and 2.5 Lakhs each on 25.1.2013 and handed over a finance note and covering letter and a filled up Form-20, in order to hand over the same to the dealer of the vehicle for endorsing the hypothecation details in the R.C. Book. But in pursuance of the conspiracy hatched among accused Nos. 1 to 3, the Innova car purchased by the 1st accused was registered temporarily on 15.4.2013. Thereafter a permanent registration was obtained on 8.5.2013 without noting the hypothecation details in the R.C book. Thereafter accused No.1 fraudulently transferred the vehicle to CW11 and thereby obtained unlawful enrichment and caused wrongful loss to the bank. It is further alleged that accused No.1 further failed to remit the installments. Then the de facto complainant searched for the vehicle and found subsequently that the vehicle was clandestinely sold out to CW11. There upon a complaint was filed by the 3rd respondent/de facto complainant before the Sub Inspector against accused No.1 and Manager of Nippon Toyota Corporation Ltd. A crime was registered against accused No.1 and Manager of Nippon Motor Corporation Ltd. After investigation, petitioner herein had been arrayed as 3 rd accused and final report was filed for the offence aforementioned.