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Siddharth Jain Vs State NCT of Delhi & Anr. — Cheating and Forgery | Delhi HC (2026)

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Delhi HC
2026
Siddharth Jain Vs State NCT of Delhi & Anr.Siddharth Jain v. State NCT of Delhi & Anr.

Allowed¶¶15

Siddharth Jain v. State NCT of Delhi & Anr.

Quashing of FIR – Settlement by complainant

Delhi HC12 Mar 2026CRL.M.C./6428/2025

Case brief

AI extract

What is this about?

Delhi HC, CRL.M.C. 6428/2025, decided 12.03.2026 by Amit Mahajan, J.: FIR No. 103/2021 PS Vikaspuri (Ss. 409/406/420/120B/34 IPC) quashed qua petitioner Siddharth Jain on the ground that complainant ICICI Bank had settled the car-loan (Rs. 35,75,000) dispute and the FIR was already quashed qua co-accused Subhash Sodhi and M/s. Rave Beverages Pvt. Ltd. vide order dated 10.09.2025 in CRL.M.C. 3095/2025; continuation of proceedings held pointless post-settlement. Keywords: quashing of FIR, settlement/compromise between complainant and accused, criminal breach of trust/cheating/conspiracy (IPC), car-loan misappropriation, consequential quash qua remaining accused.

What did the court decide?

FIR No. 103/2021 dated 26.02.2021 (PS Vikaspuri) quashed against petitioner Siddharth Jain; pending application CRL.M.A. 27135/2025 disposed of. ¶¶15

Why is it important?

No purpose would be served by continuation of the criminal proceedings once the complainant has settled the disputes and the FIR qua the other accused persons, who were alleged to have misappropriated the funds, has already been quashed. ¶¶14

What the court decided

AI extract

Outcome

FIR No. 103/2021 dated 26.02.2021 (PS Vikaspuri) quashed against petitioner Siddharth Jain; pending application CRL.M.A. 27135/2025 disposed of.

Issue for consideration

Whether FIR No. 103/2021 dated 26.02.2021 (PS Vikaspuri, Ss. 409/406/420/120B/34 IPC) ought to be quashed qua the petitioner Siddharth Jain, given that the complainant bank has settled the dispute and the FIR already stands quashed qua the other accused persons.

Court's answer

No purpose would be served by continuation of the criminal proceedings once the complainant has settled the disputes and the FIR qua the other accused persons, who were alleged to have misappropriated the funds, has already been quashed.

Ratio / Principle

The petition is allowed and FIR No. 103/2021 stands quashed against the present petitioner as well; the pending application is disposed of.

Detailed headnote1 paragraphs

Quashing of FIR - Settlement by complainant - Delhi High Court (Amit Mahajan, J., 12.03.2026) allowed CRL.M.C. 6428/2025 and quashed FIR No. 103/2021 dated 26.02.2021, PS Vikaspuri (Ss. 409/406/420/120B/34 IPC), qua petitioner Siddharth Jain. The FIR, lodged by ICICI Bank over alleged partial misappropriation of a Rs. 35,75,000 car loan, had already been quashed qua the principal accused Subhash Sodhi and M/s. Rave Beverages Pvt. Ltd. by order dated 10.09.2025 in CRL.M.C. 3095/2025 after the bank received the settlement amount. Holding: once the complainant has settled the disputes and the FIR stands quashed qua the accused who allegedly misappropriated the funds, no purpose would be served by continuing proceedings against the petitioner. Pending application disposed of.

A

$~45

IN THE HIGH COURT OF DELHI AT NEW DELHI

CRL.M.C. 6428/2025 & CRL.M.A. 27135/2025 SIDDHARTH JAIN .....Petitioner Through: Mr. Utkarsh Mathur, Ms. Charu Bhardwaj and Mr. Aman Singhal, Advocates.

versus

STATE NCT OF DELHI & ANR. .....Respondents Through: Mr. Hitesh Vali, APP for the State with Insp. Kuldeep Singh, SI Shriram Dagar, PS Vikaspuri.

CORAM: HON'BLE MR. JUSTICE AMIT MAHAJAN O R D E R % 12.03.2026

The present petition is filed by the petitioner seeking quashing of FIR No. 103/2021 dated 26.02.2021, registered at Police Station Vikaspuri, for the offences under Sections 409/406/420/120B/34 of the Indian Penal Code, 1860.

At the outset, the learned counsel for the petitioner submits that the subject FIR has already been quashed by this Court in regard to other accused persons namely Subhash Sodhi and M/s. Rave Beverages Pvt. Ltd. by order dated 10.09.2025, in CRL.M.C. 3095/2025.

Pertinently, the present FIR was registered pursuant to a complaint given by ICICI Bank alleging that accused persons, namely, Subhash Sodhi and M/s. Rave Beverages Pvt. Ltd., had taken a car loan for a sum of ₹35,75,000/- and they had partly misappropriated the said amount for personal use. It is alleged that the present

This is a digitally signed order.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/03/2026 at 15:22:02

petitioner was the beneficiary of some of the amount that was allegedly misappropriated by the main accused persons. The complaint was given to the police when the loan was not repaid, which led to registration of FIR.

As already noted above, by order dated 10.09.2025 in CRL.M.C. 3095/2025, this Court had quashed the FIR qua other accused persons as the bank had already settled the dispute after having received the settlement amount.

Considering the aforesaid, no purpose would be served with continuation of the proceedings once the complainant has already settled the disputes and the FIR qua the other accused persons, who were alleged to have misappropriated the funds, has already been quashed.

In view of the above, the present petition is allowed and the FIR No. 103/2021 stands quashed against the present petitioner as well.

Pending application also stands disposed of.

AMIT MAHAJAN, J

MARCH 12, 2026 DU

This is a digitally signed order.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/03/2026 at 15:22:02

Issues for consideration

1 issue framed by the court

AI extract

1.
Whether FIR No. 103/2021 dated 26.02.2021 (PS Vikaspuri, Ss. 409/406/420/120B/34 IPC) ought to be quashed qua the petitioner Siddharth Jain, given that the complainant bank has settled the dispute and the FIR already stands quashed qua the other accused persons.¶¶7
The court held
No purpose would be served by continuation of the criminal proceedings once the complainant has settled the disputes and the FIR qua the other accused persons, who were alleged to have misappropriated the funds, has already been quashed.ratio¶¶14

Statutes considered

5 provisions across 1 enactments

AI extract

Indian Penal Code, 1860409¶¶7 406¶¶7 420¶¶7 120B¶¶7 34¶¶7

Procedural history

How this case reached the court

AI extract

Order under challenge
Registration of FIR No. 103/2021 dated 26.02.2021 at Police Station Vikaspuri for offences under Sections 409/406/420/120B/34 IPC, whose quashing was sought by the present petition.¶¶7
Police Station Vikaspuri · 26.02.2021
Prior proceeding
ICICI Bank complained that co-accused Subhash Sodhi and M/s. Rave Beverages Pvt. Ltd. took a car loan of Rs. 35,75,000/- and partly misappropriated it for personal use; the petitioner was alleged to be a beneficiary of some of the misappropriated amount.¶¶9
Prior proceeding
The FIR was registered pursuant to the ICICI Bank complaint when the loan was not repaid.¶¶12
Prior proceeding
By order dated 10.09.2025 in CRL.M.C. 3095/2025, the same Court had already quashed the FIR qua the other accused, Subhash Sodhi and M/s. Rave Beverages Pvt. Ltd., as the bank had settled the dispute after receiving the settlement amount.¶¶4

Parties & counsel

AI extract

petitioner
SIDDHARTH JAIN¶¶3
Utkarsh Mathur, Charu Bhardwaj, Aman Singhal
respondent
STATE NCT OF DELHI & ANR.¶¶5
Hitesh Vali

Coram

AI extract

Amit Mahajanauthor¶¶6

Case details

As recorded by the court registry

Court: Delhi HC
Decided on: 12 Mar 2026 · March
Registered: 10 Sept 2025
Case no.: CRL.M.C./6428/2025
CNR: DLHC010669412025
Topic: Cheating and Forgery
Bench: Prateek Jalan
Case type: CRL.M.C.

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Cite this judgement

Siddharth Jain v. State NCT of Delhi & Anr., CRL.M.C./6428/2025 (DEL), decided on 12 March 2026.

The High Court of Delhi publishes no neutral citation for this judgement — cite it by case number and date of decision.

Statutes5

Indian Penal Code, 1860409 · 406 · 420 · 120B · 34

View all statutes

Procedural history4

Registration of FIR No. 103/2021 dated 26.02.2021 at Police Station Vikaspuri for offences under Sections 409/406/420/120B/34 IPC, whose quashing was sought by the present petition.Police Station Vikaspuri · 26.02.2021
ICICI Bank complained that co-accused Subhash Sodhi and M/s. Rave Beverages Pvt. Ltd. took a car loan of Rs. 35,75,000/- and partly misappropriated it for personal use; the petitioner was alleged to be a beneficiary of some of the misappropriated amount.
The FIR was registered pursuant to the ICICI Bank complaint when the loan was not repaid.

View full history

Bench / Coram

Amit Mahajan

Parties & counsel