ORDER
The petitioner is arrayed as accused in C.C No. 17225/2007, pending trial for offences punishable under sections 499, 500 & 501 IPC Therefore, he has filed this petition to quash the proceedings.
2. I have heard Sri. S.G Bhagavan, learned counsel for petitioner and Sri. K. Raghavendra, learned counsel for respondent.
3. The petitioner namely P.S Murali and the husband of respondent-Complainant were the erstwhile directors of a company called “M/s. S.N Finance Limited.” Both of them were active directors of the company. There were several disputes between the directors of the company. The deposits of pubiic were also not safe in the hands of said company. The company had also violated the mandatory norms of Reserve Bank of India. There are various prosecutions pending against petitioner and the husband of respondent-complainant, on the basis of complaints filed by depositors, Reserve Bank of India and other co-directors of the company, In the instant case, petitioner, who was also one of the directors of M/s. S.N Finance Limited had written a letter to the Manager of Corporation Bank, Mysore Road, Bangalore, stating that husband of complainant and also respondent-complainant herein have diverted funds of company and the company is not financially sound. Therefore, petitioner has requested the Manager of Corporation Bank, Mysore Road, Bangalore, not to extend financial assistance to respondent-complainant and her husband (director of M/s. S.N Finance Limited). In the second letter addressed to the depositors, petitioner has informed that in order to repay the investments made by depositors, petitioner and other depositors are contemplating to attach the properties of respondent-complainant.
4. It is not in dispute that petitioner and the husband of respondent-complainant were the directors of M/s. S.N Finance Limited, which was wound up on a petition filed by Reserve Bank of India. The company and its directors are prosecuted for offences punishable under various sections of Indian Penal Code and Reserve Bank of India Act. Several depositors have initiated proceedings against the respondent-complainant and her husband under section 138 of the Negotiable Instruments Act for recovery of money. There are allegations and counter allegations made by the directors of M/s. S.N Finance Limited, blaming each other for the ultimate situation of company. In the circumstances, petitioner had informed the Manager of Corporation Bank, Mysore Road, Bangalore, about the financial condition of the company and acts of malfeasance committed by respondent-complainant and her husband. The petitioner has brought this fact to the notice of the Manager of Corporation Bank, Mysore Road, Bangalore, to safeguard the interest of the company. The petitioner had informed the depositors about the action contemplated by petitioner and other directors of M/s. S.N Finance Limited to attach the properties of respondent-complainant and her husband to repay money to depositors. The petitioner was one of the directors of M/s. S.N Finance Limited, who was responsible to answer the depositors. In the circumstances, the impugned statements cannot be termed as defamatory statements.
5. The averments of complaint and the documents annexed to complaint accepted on their face value do not constitute offences alleged against petitioner. Therefore, the continuation of impugned proceedings before the court below would be abuse of process of law.
6. In the result. I pass the following:-
ORDER
The petition is accepted. The proceedings pending in C.C No. 17225/2007, on the file of VII ACMM at Bangalore, for offences punishable under sections 499, 500 & 501 IPC against petitioner herein are quashed.