- (1.) Leave granted.
(2.) The appellant has questioned the correctness of the order dated 22.7.2010 passed in Criminal O.P. No. 6128/2009 by the High Court of judicature at Madras in exercise of its power under Section 482 of the Criminal Procedure Code, 1973 (hereinafter referred to as the 'Cr.P.C.') for quashing the proceedings against the respondents in CC No.3186/2007 on the file of the learned Additional Chief Metropolitan Magistrate, Egmore, Chennai.
(3.) The brief facts of the case are that the respondents are facing prosecution for the offences under Section 120-B read with Sections 420 and 471 of the Indian Penal Code (hereinafter referred to as 'IPC'). The same has arisen as a result of a loan transaction between the first respondent and the Indian Overseas Bank (hereinafter called 'the Bank'). On the non-clearance of the loan amount/dues, a complaint was preferred by the Bank on having reason to suspect the commission of the offences referred to supra. An FIR was registered in R.C. No. 5E of 2006. After investigation, the report under Section 173 of the Cr.P.C. was filed informing commission of offence under the aforesaid sections. It is the case of the appellant that the dispute between the Bank and A-1 borrower company (respondent No.1 herein) has been brought to an end on the payment of a sum of Rs.68,00,000/- (rupees sixty eight lakhs only ). On receipt of such sum, the Bank vide letter dated 18.3.2009 had informed the appellants that they would withdraw the case filed in the Court.;