K T LONAPPAN Vs. CATHOLIC SYRIAN BANK LIMITED

JUDGEMENT

(1.) THE petitioners are accused in C.C.No.3407/01 pending before the learned Chief Judicial Magistrate, Ernakulam. Proceedings were initiated on the basis of a private complaint filed by the 1st respondent - Bank against the petitioners. THE complaint was referred to the police under Sec.156(3) of the Cr.P.C. THE police submitted a negative final report. THEreupon, a protest complaint was filed and cognizance was taken on such complaint. THE petitioners have come to this Court with a prayer that the powers under Sec.482 of the Cr.P.C. may be invoked to quash the proceedings. Notice was given to the respondent/complainant. THE respondent/ complainant has appeared through counsel. A statement has been filed by the respondent/complainant. It is submitted that the disputes have been settled and the loan transaction has been closed after discharge of the entire liability. Both the learned counsel for the petitioners/accused and the respondent/complainant agree that the proceedings can be closed, the prosecution having lost its meaning, relevance and significance now. I accept the joint request.

(2.) IN the result: (a) This Crl.M.C. is allowed. (b) The proceedings in C.C.No.3407/01 pending before the learned Chief Judicial Magistrate, Ernakulam, shall stand quashed.