name of Sri Varaha Steels to the tune of Rs.35,00,000/- and thereafter in addition to that availed a sum of Rs.25,00,000/-. Even before availing the said loan, in the year 2016, 2017 & 2018, the petitioner availed nine loans to the tune of Rs.54,40,000/-. Thereafter from the year 2017 viz., between 20.02.2017 to 23.01.2018, there was a business transactions between the petitioner and the second accused. In the said transactions, through bank account there was money transactions to the tune of Rs.52,36,495/- to the petitioners family members account and also to the second accused account. The crux of the allegation is that without any signature of the petitioner in the loan application and the bank transaction form, they transferred the amount from the loan account. But all the transactions were happened only with the knowledge of the petitioner herein. Only on instructions of the petitioner, all the transactions have been done. Only after availing the loan, the petitioner had put up construction to the value of Rs.1,98,00,000/-. Therefore, no offence is made out as against the accused persons and closed the FIR as further action dropped.
