Quashing of FIR against ex-director of ILFS cannot be presumed as a ‘Clean Chit’

Ravi Parthasarthy and Ors. vs. State of Tamil Nadu

Conclusion: The FIR against the ex-director of IL&FS was quashed as when SFIO was probing the case, no other investigative agency was empowered to investigate into the affairs of IL & FS and its subsidiary companies for any offences under the Companies Act but the same did not allow a clean chit to assessee herein, as persons who was beyond a pale of doubt.

Held: Assessee contended that he could n

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