Criminal proceedings against Bank officials. Complaint that the bank officers acted illegally in not fully sanctioning the loan and caused loss to borrower. Alternative remedy available under SARFAESI Act. Criminal proceedings on the allegations which are civil in nature are liable to be quashed.Sanction of loan, creation of mortgage and the manner in which the sanctioned loan was to be released or all contractual matters between the parties. Karnataka High Court judgment reversed.
K. Virupaksha and another vs State of Karnataka and others. (2020) 4 SCC 440
Daksha Legal 