KISHORE Vs. STATE AND ORS.

JUDGEMENT

(1.) Heard the learned counsel appearing for the petitioner, learned Additional Public Prosecutor appearing for the respondents.

(2.) The petitioner has come forward with the present applications seeking for a direction to the respondent/police to register a case on the complaint dated 24.06.2015 preferred by the petitioner on the file of the second respondent stating that the petitioner herein has preferred a complaint making allegations against the propose accused. Even though the respondent had received the said complaint, without examining the petitioner and perusing the documents, the complaint was closed on 18.09.2015 on the ground that it was civil in nature.

(3.) The learned counsel appearing for the petitioner would submit that the petitioner's company had borrowed Rs. 200 crores from ICICI bank on 29.03.2011. The petitioner had also executed a shortfall agreement in respect of the shares. Subsequently, a memorandum of understanding was entered into between the petitioner's company and the Varkey Group on 19.09.2011. However, the management of the Varkey Group Limited failed to pay the amount due to the ICICI bank and hence, without notice to the petitioner, as per the shortfall agreement, the shares pertaining to the petitioner and his mother to the tune of Rs. 5,80,62,976/ - were sold by the bank in the guise of recovering the monthly interest and misappropriated the same towards the defaulted four months interest due made by the principal borrower. That factum would show that the proposed accused with the intention to cheat the petitioner, colluded with the ICICI bank officials and taken away nearly 20 lakh shares, without notice as per the shortfall agreement. But the enquiry officer without enquiring into the alleged misappropriation had closed the complaint preferred by the petitioner stating the same is civil in nature. Hence, the petitioner has come forward with the present application to direct the respondents to register a case on the basis of the complaint given by the petitioner dated 24.06.2015.