Ravishankar Panchaksharaiah and Ors. v. Idfc First Bank Limited and Anr.
Case brief
What is this about?
Refusal to quash process under Section 482 Cr.P.C. — alternate remedy doctrine; inherent/writ jurisdiction to be exercised sparingly and exceptionally; complainant-bank case under Sections 138/141 NI Act (CC No.0700241/SS/2020, Metropolitan Magistrate, 7th Court, Dadar, Mumbai); applicants directed to revision application before Sessions Court; liberty to seek condonation of delay; no preclusion from fresh Section 482 petition if revision fails; merits expressly left open; applicants: directors/CFO/authorised signatory of Golden Gates Properties Ltd; respondents: IDFC First Bank Ltd and State of Maharashtra.
What did the court decide?
Application dismissed; applicants granted liberty to pursue appropriate proceedings (including a revision application) before the Sessions Court, with liberty to seek condonation of any delay; the door to this Court remains open if the revision fails; merits left untouched and contentions open.