Criminal trial of directors can not be quashed merely because the loan has been repaid with interest
Case Law Details
Case Name : Sushil Suri Vs. C.B.I. & Anr. (Supreme Court of India)
Related Assessment Year :
Courts :
Supreme Court of India
Sponsored
The Supreme Court last week ruled that the criminal trial of directors of a company accused of forging documents to get loan from a bank could not be quashed merely because the loan has been repaid with interest. In this case, Sushil Suri vs CBI, some directors of a pharmaceutical firm, Morpen Laboratories Ltd of Delhi, were charge-sheeted for fabricating false invoices to obtain a hire purchase loan from Punjab & Sind Bank. On information, CBI investigated and charged the directors with fraud, forgery, conspiracy and other criminal offences. Some directors
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
branch manager and field officer of canara bank Buxar,Bihar looted more than 20 lac rs. by way of giving fake loan. bankers make forged l.p.c.and other documents and thenafter they disbursed loan to fake name&pesons after afixing any one photograph.actual person does not knows that his name and property documents were used in fake loan.even then K Y C NORMS IGNORED by bank branch. after disbursing these fake loan,branch manager put up these fake loan in FARMERS DEBT RELEIF SCHEME anounced by central govt.of india.inspite of this fact senior officer of canara bank like A.G.M. AND D.G.M CANNOT TAKE ACTION OF PETTITION OF THIS FRAUD GIVEN BY ME WITH EVIDENCE AND PHOTOCOPY OF THAT FORGED DOCUMENTS . HOW AND WHEN THEY PUNISHED I DONT KNOW. PL.REFER THIS MATTER TO COMPETENT AUTHORITY.
The court has let off Mr Nikel Merchant where there was loss to Bank. In this case there has been no loss to Govt as No tax is applicable to Morepen .Bank has recovered entire money. In fact case was registered after payment of entire amount to Bank. It seems court has double standard .
The apex court had rightly held mere repayment does not lead to waiver criminal acts like forging etc. committed by its directors. Now adverting to the comments of SRIRAM though I am not sure of the case details, it was a wrong a decision. No person however high should be spared from the consequences of wrong doings either civil or criminal. The benches of superior courts are also made of humans and their personal values yet times reflect in their decisions. Let us be happy at least now the apex court rightly judged the matter.
The Same SC has pardoned Jayalalaitha when she returned the TANSI land, but now convicting these directors. Why two yardsticks for politicians and general public