ABDUL RAHMAN Vs. STATE OF KERALA

JUDGEMENT

(1.) In this petition under Sec. 482 Cr.P.C, petitioner challenges the crime registered against him as F.I.R. No.119/2021 of the Chandera Police Station, Kasaragod, Kerala.

(2.) A complaint was filed by the second respondent on 5/2/2021, alleging that he had been authorised by M/s.Invest Bank, Sharjah, United Arab Emirates, to initiate criminal proceedings against the petitioner. The F.I.R was registered pursuant to a complaint alleging that the accused had on 4/10/2017 and 23/1/2018 obtained a total loan of 68.159 million UAE dirhams equivalent to Rs.135.00 Crores for the business purposes of his establishment by the name 'M/s.Hexsa Oil and Gas Services LLC' and failed to repay 42.898 million UAE dirhams and thereby committed cheating.

(3.) The complainant alleged that the loan was disbursed since the accused had promised to repay it in 84 months and also that the amount shall be utilised only for the purpose of the business of his company and the accused had personally undertaken to repay the payment. Induced by the promise of the accused, the bank disbursed the loan amount. However, the accused defaulted in repayment and when the bank officials visited the establishment of the accused, they found that he had diverted the loan amount for his personal purposes without utilising the same for his business. When confronted with it, the accused handed over 84 cheques of Rs.3,25,000.00 UAE dirhams each, but the first cheque itself, when presented for encashment, returned dishonoured. Thereafter the accused became unreachable as he switched off his phone and soon absconded from Dubai. On verification, the bank realised that the accused had set up business establishments under different names in India, utilising the money taken from the bank. In the meantime, in a civil suit filed by the bank before the court in UAE, it was held that the outstanding amount due to the bank was 48.898 million UAE dirhams, equivalent to more than Rs.83.00 Crores. The accused has thereby cheated the bank and committed the offence alleged.