HDB FINANCIAL SERVICES LTD Vs. SANJAY AGARWAL

JUDGEMENT

(1.) This is an application u/s 397/401 read with Sec. 482 of the Code of Criminal Procedure for quashing of the proceeding of a complaint case being No. CS 0054927 of 2016 u/s 420/465/468/471 read with Sec. 120B of the IPC pending before the Learned Metropolitan Magistrate 15th Court Calcutta and also challenge the order dtd. 11/4/2017 passed by the Learned Magistrate in the said complaint case for issuance of process against the present petitioners. The brief fact of the case is that the present petitioner No. 2 and 3 are the Directors and the petitioner No. 4 is the Managing Director of the petitioner No. 1 Company. The petitioner No 1 company is subsidiary Company of HDFC Bank, is non- banking Financial Corporation inter alia engaged in the business of providing loans. The instant complaint case was registered on the basis of a petition of complaint filed by the present opposite party No. 1 before the Learned Court of Learned Metropolitan Magistrate 15th Court Calcutta on 29/1/2016 alleging offence punishable u/s 420/465/468/471 read with Sec. 120B of IPC.

(2.) The brief fact of the petition of complaint is as follows:

(3.) That the petitioners nos. 2 to 4 and one Venkatraman Srinivasan and Smita Affinwala, are the Directors of the petitioner no.1 company and are engaged in the day to day affairs of the petitioner no. 1 company. That the petitioner no. 1 had sent a notice dtd. 15/9/2015 to one Ravilal Hirala Exports Pvt. Ltd. demanding a total outstanding loan amount of Rs.22172107.00 under the loan account number 596398 and another notice dtd. 19/10/2015 to Gupta Polypack Private Ltd. Demanding a total outstanding loan amount of Rs.22181761.00 under the loan account number 596446, both of which were addressed in the name of the opposite party, who allegedly has no connection whatsoever to the aforementioned companies.