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| High Court quashes FIR in Rs 300 cr J&K Bank loan scam case | | |  Early Times Report
Jammu, Dec 26: Justice Javed Iqbal Wani of Jammu & Kashmir and Ladakh High Court has quashed the FIR in alleged Rs 300 cr bank loan scam case.
Justice Wani after hearing both the sides observed: “A deeper and closer examination of the CD file produced by the counsel for the respondent, in as much as the status report (Supra) filed by the respondent on 28.10.2024, almost after a period of four years from the registration of FIR would reveal that the investigating agency has till date failed to collect any material worth the name connecting the alleged prime accused i.e. the bank officers/officials of the J&K Bank in the commission of alleged offences covered in the impugned FIR.”
“No headway indisputably has been made by the investigating agency in order to find out involvement of the bank officers/officials in the commission of alleged offences in the first instance and in the second instance by the petitioner.”
The Court further observed that perusal of the impugned FIR inasmuch as the incriminating material collected by the investigating agency during the course of investigation so far manifestly tend to show that the offences alleged to have been committed by the petitioner herein are not made out on a plain reading, in that, it is evident that the allegations levelled in the complaint instead seemingly are constituting at the most a procedural lapse committed by the bank officers/officials in discharge of their duties in the process of granting alleged enhanced loan in favour of the ATPL and significantly no loss whatsoever found till date to have been caused to the Bank, thus in no case constituting alleged offences covered in the impugned FIR, against the petitioner herein.
Based on inclusive consideration of facts and circumstances of the case summed up in the foregoing paras, the instant case cannot, but said to be warranting exercise of inherent power of this Court for quashing the impugned FIR for what has been observed, considered and analysed hereinabove.
Justice Javed Iqbal Wani observed that the instant petition succeeds, as a consequence whereof, the impugned FIR No. 16/2019 dated 29.07.2019 registered with Police Station, Anti Corruption Bureau, Central Kashmir for offences under Section 5(1) (d) read with Section 5 (2) of the J&K Prevention of Corruption Act read with Section 120-B RPC is quashed insofar as the petitioner is concerned. (JNF) |
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