Jai Prakash Rawat vs State & Anr. on 22 March, 2017

2. I have heard the learned counsel for the parties and have
examined the file.
3. Petitioner’s counsel urged that since the matter has been settled
with the complainant-Bank i.e. respondent No.2 and ‘No Due Certificate’
has been issued by complainant-Bank, no useful purpose will be served to
continue with the proceedings.

Crl.M.C.3398/2016 Page 1 of 4
4. Perusal of the Trial Court record reveals that the FIR was
lodged on the complaint of complainant-Bank i.e. Bank of India, Khan
Market on 3.9.2007. It was alleged that the Bank had sanctioned a credit
limit of Rs.30,00,000/- on 29.03.1997 to M/s Saviour International under the
proprietorship of Jai Prakash Rawat. Out of sanctioned facilities, Packing
Credit Limit of `15,00,000/- was disbursed to the said firm on 19.05.1997.
The said facility was guaranteed by two individuals, namely, Dharambir
Ajmani and Mohd.Naeem who executed an Agreement of guarantee in
favour of the Bank. As a further security, Dharambir Ajmani mortgaged his
property bearing Plot Nos.37 to 43 (R-3, Block-A-2), Khasra No.18/18,
Village Rajapur Khurd known as Mohan Garden, New Delhi, measuring
1380 sq.yds. The limits were further enhanced on 13.08.1997 and
Dharambir Ajmani agreed to keep the title deeds already lying with the Bank
as security for the increased limit to M/s Saviour International.
Subsequently the account become irregular on account of defaults
committed by the borrower. When the Bank officials visited the property to
take its possession, they could not identify it. It was learnt that the
mortgaged property had been sold by Dharambir Ajmani without knowledge
of the Bank.

Source: Indian Kanoon

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