GHANSHYAMBHAI NARANBHAI PATEL Vs. STATE OF GUJARAT

JUDGEMENT

(1.) Rule. Learned APP waives service of notice of rule on behalf of respondent-State.

(2.) The prayer is made to quash and set aside the FIR bearing CR. No.I-6 of 2002, registered withe Anand Town Police Station, Anand, and the chargesheet filed thereafter qua the petitioner. Mr.B.S.Patel, learned senior advocate submitted that pursuant to the FIR registered under Sections 409, 467, 468, 466, 465, 470, 471, 406, 420 and 120-B of the Indian Penal Code on 22.01.2003 in Criminal Case No.3044 of 2009 was registered at the Court of Additional Chief Judicial Magistrate, Anand.

(3.) Learned senior advocate Mr.Patel, stated that, there is a board of Directors who manages the affairs of the Bank but because of some political rivalry license of the Bank came to be cancelled and official liquidator was appointed who realized the money from the borrowers who were arraigned as accused in the FIR and the money of the depositors have been paid including the insurance corporation and the registrar as well as the Government revived them which Mr.Patel, learned senior advocate submits that it establishes that the Board of Directors had taken not only a valid but a wise decision and because of that the liquidator is in a position to repay all the depositors and at present he is in excess of the fund.