Calcutta HC Quashes FIR as Failed IBC Recovery Cannot Be Converted into Criminal Prosecution

Rajendra Ramesh chandra Chaturvedi Nee Rajendra Chaturvedi & Anr. Vs State of West Bengal & Anr. (Calcutta High Court) The Calcutta High Court quashed an FIR registered under Sections 406, 418, 420, 467, 468, 471 and 120B of the Indian Penal Code, holding that the allegations, even if accepted in their entirety, disclosed at best a civil dispute arising from breach of contract and recovery of money rather than criminal offences. According to the FIR, the complainant company paid ₹3.30 crore between 2009 and 2010 as advance consideration for two flats in a proposed Mumbai housing proj...