Sunil Sarda v. State & Anr.

1. The petitioners, Sunil Sarda (CrI.M.C. No. 3551/2019), Pramod Kumar and Jai Prakash Jindal( CrI.M.C. No. 1372/2020)and Ajay Taneja (CrI.M.C.No.2204/2020)videthe presentpetitions seek quashing oftheFIR No.120/2007Police Station Model Town under Sections 420/467/471 ofthe Indian Penal Code, 1860 registered against them in view of the Memorandum of Understanding dated 22.1.2019 between the petitioner of CrI.M.C. No.3551/2019 Sunil Sarda and the respondent No.2 M/s Abhipra Capital Limited, on the basis of a Memorandum of Understanding dated 27.5.2019 between the petitioner No.l (Pramod Kumar in CrI.M.C. NO. 1372/2020) and the respondentNo.2 vide a Memorandum ofUnderstanding dated 27.5.2019 between Mr.Jai Prakash Jindal,(petitioner No.2in CrI.M.C. No. 1372/2020)and likewise petitioner Ajay Taneja, petitioner ofCrI.M.C. No. 2204/2020 seeks the quashing of the said FIR in view of the Memorandum ofUnderstanding dated 28.8.2019 between the petitioner and the respondent No.2.

2. The respondent No.2 in each ofthe cases is indicated to have signed the stated settlement documentsthrough their authorized signatories.

3. It has been submitted on behalfofthe petitioners and it is not refuted on behalf of Abhipra Capital Limited, that a settlement has been amved at between the parties vide the stated Memorandum ofUnderstanding referred to herein above executed between them in terms of the directions dated 12.1.2021. c

4. The State has placed on record the status report indicating that there are no previous adverse antecedents against the petitioners. The status report submitted in CrI.M.C. No. 2204/2020 which is adopted on behalf of the State as being the status report qua all petitioners of the three petitions, indicates that the allegations against the petitioners relate to inter se embezzlement qua Abipra Capital Limited in relation to which a settlement has been arrived at between the parties and that there is no defrauding ofthe public exchequer.

5. In terms of the settlement agreement dated 22.1.2019 between Sunil Sarda and Abhipra Capital Limited parties to CrI.M.C. No.3551/2019 it has been stated by Mr.Abhinav Aggarwal, Director of Abipra Capital Limited, that in terms ofthe said settlement agreement, a total sum ofRs.42,50,000/had to be paid by Mr.Sunil Sarda to the respondent No.2 ofwhich a sum of Rs.27,50,000/- has been paid by the petitioner thereof, to the respondent No.2 and the balance sum of Rs.15,00,000/- has been handed over now-by Mr.Sunil Sarda in the form ofa Demand Draft in favour ofAbhipra Capital Limited, dated 11.1.2021 bearing No.280371 drawn on the RBL Bank Limited in original which is placed on the Court record now (directed to be placed in a sealed cover) and a copy thereof is retained on the record qua which the same is allowed to be released to respondent No.2 through its authorized signatoiy Mr.Abhinav Aggarwal by the Registry on production ofthe proofofidentity.

6. In view thereof, on behalf of the respondent No.2 it is stated by Mr.Abhinav Aggarwal that there is no opposition to the prayer made by the petitioner seeking quashing ofthe FIR No. 120/2007 Police Station Model Town under Sections 420/467/471 ofthe Indian Penal Code, 1860, against A Mr.Sunil Sarda.

7. Likewise it is stated by Mr.V.D.Aggarwal also a Director and ChaiiTnan of Abhipra Capital Limited that in view of the respective settlement agreements between the petitioners of Crl.M.C. No. 1372/2020 and the petitioner of Crl.M.C.No.2204/2020,there is no opposition to the prayer made by the said petitioners seeking the quashing ofvery same FIR No. 120/2007Police Station Model Town under Sections 420/467/471 ofthe Indian Penal Code, 1860, against them. It is further stated by Mr.V.D.Aggai"wal that qua the petitioner Mr.Ajay Taneja, petitioner of Crl.M.C. No. 2204/2020, the Abhipra Capital Limited would make a payment ofRs.2,25,000/- to Mr.Ajay Taneja at the time ofwithdrawal ofhis Labour Court Proceedings which withdrawal ofLabour Court proceedings in terms ofthe Memorandum ofUnderstanding dated 28.8.2019 is to be paid on the quashing ofthe FIR No. 120/2007 Police Station Model Town under Sections 420/467/471 ofthe Indian Penal Code, 1860,which counsel for the petitioner undertakes would be withdrawn within a period 10 days in terms ofthe settlement agreement dated 28.8.2019 Clause 5 thereof.

8. In view ofthe proceedings herein above and the depositions on behalf of Mr.Abhinav Aggarwal as identified by Mr.Kamal Mehta, Advocate, Enroll No. D/2638/2012,learned counsel for the said respondent No.2.and the status report submitted by the State as is apparent that the proceedings further qua the FIR bearing No. 120/2007 Police Station Model Town under Sections 420/467/471 ofthe Indian Penal Code, 1860 any further would be an exercise in futility in,view ofthe settlement arrived at between the parties and as also all claims between them stand settled qua the FIR with it having been already observed hereinabove as also brought forth through the status report submitted by the State dated 2.1.2021 under signatures ofthe ACP Section 1 EOW which is placed on the records of Crl.M.C. No.2204/2020 that there were no public exchequer involved or defrauded, it is considered appropriate to put a quietus to the litigation between the parties in relation to FIR bearing No. 120/2007 Police Station Model Town under Sections 420/467/471 of the Indian Penal Code, 1860, against the petitioners, i.e., Sunil Sarda (Crl.M.C. No. 3551/2019), Pramod Kumar and Jai Prakash Jindal(Crl.M.C.No.1372/2020)and Ajay Taneja(Crl.M.C.No.2204/2020), which are thus quashed. The petitions are disposed of. Atthis stage,in as much as the Director ofrespondentNo.2 is present along with the counsel, the Demand Draft as mentioned in paragraph No.5 hereinabove has been handed over to the Director of respondent No.2 to which there is no opposition from the petitioners' counsel. ANU MALH0TRA,T