Allowed

M/S Ideb Projects Private Limited v. M/S Hdfc Bank Ltd.

Karnataka HC11 Feb 2021CRL.RP/445/2019

Case brief

AI extract

What is this about?

The High Court of Karnataka allowed a criminal revision petition challenging conviction for cheque dishonour. The court set aside the lower court orders after the petitioners reached a one-time settlement with the bank and paid the entire accumulated amount of Rs. 13 crores, leading to acquittal.

What did the court decide?

The judgment and orders dated 16.07.2018 and 09.03.2019 were set aside, and the petitioners were acquitted of the offence under Section 138 of the N.I. Act.

M/S Ideb Projects Private Limited Vs M/S Hdfc Bank Ltd. — Cheque Dishonour | Karnataka HC (2021)

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 11^TH DAY OF FEBRUARY, 2021

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BEFORE

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THE HON'BLE MR.JUSTICE ASHOK G. NIJAGANNAVAR

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CRIMINAL REVISION PETITION NO.445 OF 2019

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BETWEEN:

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M/S IDEB PROJECTS PRIVATE LIMITED, NO.7, SIGMA SOFT-TECH PARK, 9TH AND 10TH FLOOR, DELTA BLOCK, WHITEFIELD ROAD, VARTHUR KODI, BANGALORE - 560 008.

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MR H S BEDI, SON OF LATE MR I S BEDI, AGED ABOUT 61 YEARS, RESIDING AT NO.177, DIAMOND DISTRICT AIRPORT ROAD, KODIHALLI, BANGALORE-560 038.

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MRS AVNEET BEDI, WIFE OF H S BEDI, AGED ABOUT 58 YEARS, RESIDING AT NO.177, DIAMOND DISTRICT AIRPORT ROAD, KODIHALLI BANGALORE - 560 038. ...PETITIONERS

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(BY SRI VAMSHI KRISHNA C AND ANAND MUTTALLI, ADVOCATES)

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AND:

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M/S HDFC BANK LTD., NO.268, 1ST FLOOR, 4TH MAIN ROAD, 5TH C CROSS, THIPPASANDRA, BENGALURU-560075, REPRESENTED BY ITS DEPUTY MANAGER AND POWER OF ATTORNEY HOLDER MR SANDESH PRABHU. …RESPONDENT

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(BY SRI S VIVEKANANDA AND V GANGA BAI, ADVOCATES)

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THIS CRIMINAL REVISION PETITION IS FILED UNDER SECTION 397 R/W 401 CR.P.C PRAYING TO SET ASIDE THE ORDER OF CONVICTION AND SENTENCE DATED 09.03.2019 PASSED BY THE LXXII ADDITIONAL CITY CIVIL AND SESSIONS JUDGE, BENGALURU IN CRL.A.NO.25143/2018 CONFIRMING THE ORDER DATED 16.07.2018 PASSED BY THE XV ADDITIONAL SMALL CAUSES JUDGE AND XXIII ADDL. C.M.M., BENGALURU IN C.C.NO.27043/2011.

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THIS PETITION COMING ON FOR REPORTING SETTLEMENT THIS DAY, THE COURT MADE THE FOLLOWING THROUGH PHYSICAL HEARING:

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ORDER

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Heard learned counsel for the petitioners and respondent.

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The revision petitioners have filed affidavit stating that

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they had filed revision petition challenging the orders passed by the

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Courts below convicting the accused / petitioner. During the

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pendency of the revision petition, the petitioners had approached the respondent / complainant Bank for one time settlement. After negotiations, there was one time settlement for payment of a sum of Rs.13.00 crores. Initially, the petitioners have paid a sum of Rs.11.30 crores and subsequently, they have paid the balance amount of Rs.1,70,00,000/-. Thus, the entire amount of Rs.13.00 crores has been paid by the petitioners. In view of the said settlement, the order passed by the Courts below are liable to be set aside.

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Learned counsel for the respondent / complainant Bank admits that there was one time settlement between the complainant and the accused and further submits that no objection for allowing the revision petition and for setting aside the orders passed by the Courts below.

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In view of submissions of the learned counsels, the

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Criminal Revision Petition is allowed.

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The judgment and order dated 16.07.2018 passed in C.C. No.27043/2011 by the XV Addl. Small Causes Judge & XXIII

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ACMM, Bengaluru and the order dated 09.03.2019 passed in Crl.A No.25143/2018 by the LXXII Addl. City Civil & Sessions Judge, Bengaluru, are set aside. Accordingly, the petitioners are acquitted of the offence punishable under Section 138 of the N.I. Act.

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Sd/JUDGE

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M/S Ideb Projects Private Limited v. M/S Hdfc Bank Ltd.

Case brief

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M/S Ideb Projects Private Limited v. M/S Hdfc Bank Ltd.

Case brief

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