Chennai, Nov 12 (UNI) The Madras High Court today reserved orders on a petition seeking to quash an FIR filed by Central Bureau of Investigation (CBI) in a Rs nine core bank fraud case.
After hearing the arguments of both the sides, Justice K Mohan Ram reserved orders without mentioning the date of pronouncement.
Petitioners A D Sudhindhra, V Narayanaswamy, D S Srinivasan, Chairman, Managing Director and Joint Managing Director of M/s, Dhanus Technologies Ltd (DTL), Chennai a corporate Company, submitted that the CBI's Bank Securities and Fraud Cell (BS&FC) Mumbai, registered a case against them on a complaint filed by State Bank Of India (SBI).
The petitioners further submitted that the case of the prosecution was that the Company along with the employees of the SBI entered into a criminal conspiracy during 2006 and 2007, thereby committed criminal breach of trust by abusing their official position and cheated the bank to the tune of Rs nine crore by availing personal loans under the Express Credit Scheme.
They produced bogus and forged identity that they were employees of the Company.
''The impugned FIR pending on the file of the CBI is liable to be quashed as the same was entirely without jurisdiction and proper application of mind. Since a pure transaction has been given a criminal colour to wreck vengeance and to harass them,'' the petitioners contended.
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