Rajamani Venkataraman vs State Of Maharashtra And Anr
2023 Latest Caselaw 7584 Bom

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          IN THE HIGH COURT OF JUDICATURE AT BOMBAY
               CRIMINAL APPELLATE JURISDICTION

                               Writ Petition No. 2616 of 2023

 Mr Rajamani Venkataraman & ors.                             ...      Petitioners
      v/s.
 The State of Maharashtra & anr.                             ...        Respondents


 Mr Abad Ponda, Sr. Advolcate i/b. Satyavrat Joshi for the petitioners.

 Mr J.P. Yagnik, APP for the State.
 Mr. Umesh Iyer a/w. Jitendra Jagtap for respondent No.2.

                               CORAM : NITIN W. SAMBRE &
                                       R.N.LADDHA, JJ.

DATE : 31st July 2023 P.C. :

Heard learned counsel for the parties.

2. The petitioners are claiming to be the Directors and officials of M/s. IIFL Home Finance Ltd., a non banking financial company. The petitioners are ordered to be investigated in Criminal M.A. No.1826/2022 vide impugned order dated November 14, 2022 passed by the Judicial Magistrate, First Class, Thane.

3. The contentions are that in view of judgment delivered by the Apex Court in the case of Priyanka Srivastav & anr. v/s. State of U.P. &

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Ors.1. & Anil Kumar v/s. M.K. Aiyappa 2 and having regard to the admitted fact that respondent-Complainant had repaid the installments by accepting the liability of re-payment of loan amount of Rs.1.40 crores, the offence cannot be inferred.

4. In view thereof, issue notice to respondents, returnable on 3rd October 2023. Mr Yagnik, the learned APP waives service of notice for respondent No.1. Mr Umesh Iyer, learned counsel waives service of notice for respondent No.2.

5. In the meantime, having regard to the law laid down by the Apex Court in the matter of Priyanka Srivastav (supra), there shall be no coercive action against the petitioners.

6. Needless to clarify that counsel for respondent No.2 who acknowledges the receipt of copy of the petition undertakes to file Vakalatnama and file affidavit-in-reply, if so required, within a period of four weeks from today.

7. Stand over to 3rd October 2023.

         R.N. LADDHA, J.                       NITIN W. SAMBRE, J.
 Lata Panjwani, P.S.




 1    (2015) 6 SCC Page-287
 2    (2013) 10 SCC 705