Case Law Details
Jayahari Vs State of Kerala (Supreme Court of India)
he facts thus show that a transaction was entered into between the complainant and the appellants, in terms of which the property belonging to the appellants was sought to be purchased by the complainant; and in order to enable him to effectuate such purchase, certain loan was given by the Bank with the help of which, the consideration amount could be made over to the appellants. The basic submission is to the effect that the valuation of the property was inflated by the appellants and thereby the appellants committed offences punishable under Sections 420, 406 read with Section 34 of the Indian Penal Code, 1860. The instant complaint is filed against the appellants as well as the officials of the Bank who statedly connived with the appellants.
It is accepted that as there were defaults on part of the complainant in repaying the installments in favour of the Bank, the proceedings were initiated by the Bank under SARFESI Act and possession of the property has been taken over.
Person Well Versed In Commerce Expected To Check Valuation Of Property Before Entering Into Transaction
As the facts on record show the complainant is a business man working in Gulf. A man, well versed in commerce, would certainly be expected to check the valuation of the property before entering into any transaction. The dispute in question being purely civil in nature, the adoption of remedy in a criminal court would amount to abuse of the process of Court.
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