RAKESH SAXENA vs STATE THROUGH C.B.I.

The Supreme Court quashed the charges against the appellant, a trader in the Foreign Exchange Division of the Bank, due to the significant delay of over six years since the alleged offences and the low likelihood of conviction given the complicated nature of the case. The Court held that continuing the prosecution would serve no useful purpose, emphasizing the need for timely justice. The judgment allows the Bank to pursue any civil remedies against the appellant if warranted.