RANGOLI INTERNATIONAL PVT LTD & ORS. vs CENTRAL BUREAU OF INVESTIGATION & ORS.

Judgment text excerpt

$~53 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision: 21st January, 2025. + CRL.M.C. 350/2025, CRL.M.A. 1742/2025 & CRL.M.A. 1743/2025 RANGOLI INTERNATIONAL PVT LTD & ORS. .....Petitioners Through: Mr. Manohar Malik, Ms. Astha Gumber, Advocates versus CENTRAL BUREAU OF INVESTIGATION & ORS. .....Respondents Through: Mr. Santosh Kumar Rout, SC of BOB with Ms. Dharna Veragi, Advocate for R-2/BoB Mr. Brijesh Kumar Tamber, Mr. Vinay Singh Bist and Mr. Yashu Rustagi, Advocates for Respondent No.3/Canara Bank CORAM: HON'BLE MR. JUSTICE SANJEEV NARULA JUDGMENT SANJEEV NARULA, J. (Oral): 1. The present petition under Section 528 of the Bharatiya Nagarik Suraksha Sanhita, 20231 (erstwhile Section 482 of the Code of Criminal Procedure, 19732) read with Article 226 of the Constitution of India, seeks quashing of FIR/RC bearing No. RCBD1/2016/E/0004 dated 24th May, 20163, as well as all proceedings emanating therefrom. The aforesaid 1 “BNSS” 2 “CrPC” 3 “Impugned FIR/RC” Signature Not Verified Dgitally Signed CRL.M.C. 350/2025 Page 1 of 13 By:NITIN KAIN Signing Date:25.01.2025 15:21:57 FIR/RC has been filed under Section 120-B read with Section 420 of the Indian Penal Code, 18604 as well as Sections 13(2) and 13(1)(d) of the Prevention of Corruption Act, 1988, registered at Central Bureau of Investigation5, BS & FC, 2. Counsel for the Petitioners submits that the impugned FIR/RC is predicated upon declaration of Petitioner No. 1’s account as ‘fraud’ as per the ‘Master Circular on Frauds’ issued by the RBI. The said fraud declaration has now been set aside by this Court vide order dated 12th May, 2023 in W.P. (C) 590/2016, and therefore, the very genesis of the complaint alleging fraud as well as the subsequent impugned FIR/RC is untenable in law and as such, the same deser