IndusInd Bank case
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AP High Court stays prosecution on IndusInd Bank case
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Banking in Andhra Pradesh

AP High Court stays prosecution on IndusInd Bank case
Petitioner says the dispute is civil and not criminal

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AP High Court stays prosecution on IndusInd Bank case

Petitioner says the dispute is civil and not criminal

Justice PS Narayana of the High Court on Monday stayed prosecution of persons against whom IndusInd Bank Limited had filed a case of cheating. M Somasekhara Rao and others filed a batch of petitions pointing to the complaint made by the bank that it had given a loan of Rs.14 lakhs to the petitioners to be repaid in 35 monthly installments.

According to the complaint by the bank, the repayments were not made and the petitioners had therefore committed a criminal offence. The petitioners said the allegations point out to a civil dispute between the parties and the complaintant bank was only filing criminal case to pressurize the petitioner. The Tata Hitachi excavator for which the loan was granted was available for recovery and such no offence of breach of trust was made. Further, the bank initiated arbitration proceedings for recoveries and no complaint is made of criminal intent.

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