ICICI BANK OFFICE Vs. STATE OF BIHAR

JUDGEMENT

(1.) The present application has been filed for setting aside/ quashing the order dtd. 25/6/2016 passed by learned Judicial Magistrate, Patna (hereinafter referred to as "Magistrate") in Complaint Case No. 25388 (C) of 2014 whereby the learned Magistrate has taken cognizance under Ss. 409, 420 and 120B of the Indian Penal Code against the petitioners as well as order dtd. 15/11/2017 passed by learned Additional Sessions Judge - X, Patna (hereinafter referred to as "Addl. Sessions Judge") in Criminal Revision No. 542 of 2016 whereby the learned Addl. Sessions Judge has approved the order of learned Magistrate by holding that there is no illegality in the order of cognizance.

(2.) It is submitted on behalf of petitioners that petitioner no. 1 in the present case is the ICICI Bank, petitioner no. 2 is Zonal Head Retail of ICICI Bank, Bhopal, petitioner no. 3 is Regional Head of ICICI Bank, Patna, whereas petitioner no. 4 is the Branch Manager of ICICI Bank, Frazer Road, Patna and all have been made accused only when steps were taken for recovery of the loan amount and properties, kept as security, were auction sold.

(3.) The brief fact, giving rise to the case, is that the complainant by pledging jewellery had taken gold loan of Rs.90,600.00. The total value of the jewellery, pledged by the complainant, was done by the bank, which was worth Rs.90,683.00. The loan was sanctioned and money was transferred in the account of complainant on 30/11/2012 and the maturity date for returning back the loan amount was May 30, 2013. On expiry of period of maturity, despite several notices sent to the complainant intimating all the terms for depositing the loan amount and for redeeming the pledged jewellery, no reply was received from the complainant to this effect and finally, in July 2013, the loan account of the complainant became NPA. Thereafter, the complainant on August 4, 2013, filed an application seeking time till September, 2013 to repay the loan. In spite of that, the complainant did not pay the same. Thereafter, on August 13, 2013, paper publication was done by the bank in two local daily newspaper. On August 24, 2013, auction was conducted by the bank and on August 30, 2013, the pledged gold ornaments were auctioned for Rs.1,00,632.00 to one Mr. Ashok Kumar and said auction amount was adjusted against loan amount and thereafter, On September 30, 2013, after deducting the interest calculated for the period from 31/11/2012 to 30/9/2013, the balance amount of Rs.545.00 was sent to the complainant in form of demand draft, which was returned by her and she filed a complaint on February 26, 2014 before the Chief Judicial Magistrate, Patna.