Vesa Holdings P.Ltd.& Anr vs State Kerala & Ors

The Supreme Court upheld the High Court's dismissal of petitions under Section 482 of the Criminal Procedure Code, which sought to quash an FIR registered under Sections 417, 418, 420, 120B, and 34 IPC. The Court established that the allegations of conspiracy and deceit against the company and its directors must be investigated, as the complainant's failure to settle the loan within the stipulated time does not negate potential criminal liability. The Court affirmed that the truth of the allegations is a matter for the investigating agency to determine, thereby rejecting the appellants' claims of mere breach of contract.