UCO BANK Vs. RONAK ENTERPRISES

JUDGEMENT

(1.) AS common question of law and facts arise in both these applications, they are disposed of by this common judgment and order.

(2.) SHRI Ankur Oza, learned advocate has appeared for SHRI M.D. Rana, learned advocate appearing on behalf of the respective applicants. It is submitted that as such the respective applicants have not committed any offences as alleged and whatever have been done by the concerned officers of the Bank was permissible under the provisions of the Securitisation Act and after following due procedure as required under the provisions of Securitisation Act, the possession of the disputed properties in question have been taken over. It is submitted that impugned complaints are nothing but abuse of process of law and Court and only with a view to pressurize the bank to settle the dues as per the terms of the complainants. It is submitted that even otherwise on bare reading of the impugned complaints, no case is made out against the applicants for the offences alleged. It is submitted that by taking over the possession of the disputed properties in question in exercise of powers under the Securitisation Act, it cannot be said that the officers of the Bank and/or applicants have committed any offences as alleged under Section 29 of the Securitisation Act. It is further submitted that similar such complaints filed against the applicants have been quashed and set aside by this Court by judgment and order passed in Criminal Miscellaneous Application Nos.2560/2006 and 494/2006. Therefore, it is requested to exercise powers under Section 482 of the Code of Criminal Procedure, 1973 and to quash and set aside the impugned complaints which are absolutely malafide, vexatious and it does not disclose any offence against the applicants.

(3.) IN view of the above and for the reasons stated above, both the applications succeed and the impugned complaint being Criminal Case No.205/2005 pending in the Court of learned Chief Metropolitan Magistrate, Ahmedabad and the impugned complaint being Criminal INquiry Case No.36/2006 pending in the Court of learned Metropolitan Magistrate, Court No.13, Ahmedabad are hereby quashed and set aside so far as the applicants are concerned. Rule is made absolute to the aforesaid extent in each of the application.