V NARAYANAMOORTHY Vs. STATE INSPECTOR OF POLICE COIMBATORE

JUDGEMENT

(1.) Today, both the counsels are present. The learned Counsel for the appellants would submit that the amount due to the depositors has been already paid and discharged. Hence, prayed for allowing the appeals for compounding the offence under the special enactment.

(2.) The learned public prosecutor has filed the counter which was signed by the respondent stating that no objection to allow these appeals.

(3.) Considering the arguments advanced by both counsels as well as counter affidavit and unreported decision in Crl.A. Nos. 168 & 162/ 2004, since the appellants have paid the amount due to the depositors, it is seen that Section 5A of Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997, empowers the competent authority to compound the offence punishable under Section 5 of the Act, if it is satisfied that the entire amount due to the depositors have been paid. In this case, with the permission of the Court, it is reported that the offence has been compounded and therefore, taking the said fact into account, the appellants have to be discharged.