AI Structured Summary
Not yet generated for this judgment
Judgment
B.V. Pinto
Sri C.V. Nagesh, learned Counsel takes notice for respondent N0. 2.
Sri. Satish R Giriji, learned High Court Government Pleader takes notices for respondent N0. 1.
These petitions are filed seeking to quash the proceedings in Special C.C. N0. 104/2011 pending on the file of XXIII. Additional City Civil Judge and Special Judge, Bangalore City registered for the offences punishable under Sections 409, 418, 420 r/w Section 120-B IPC and under Sections 13(1)(d) and 13(2) of the Prevention of Corruption Act, 1988.
It is the came of the complainant that an amount of money which was belonging to the complainant i.e., Power Corporation of Karnataka limited was invested in the Bajaj Altars Life Insurance Company Limited without the authority of the Board of Directors and therefore the accused-petitioners have committed offence of criminal misappropriation and cheating and also criminal conspiracy beside the offence under Sections 13(1)(d) and 13(2) of Prevention of Corruption Act.
Since the petitioners are the public servants being the employees of the Power Corporation of Karnataka Limited, it is submitted by Sri. Udaya Holla, learned Senior Counsel and Sri. C.V. Nagesh, learned Counsel appearing for the parties that the matter has been settled and that the respondent-complainant has no objection for quashing proceeding. However, it is submitted by learned Counsel for the complainant-respondent N0. 2 that in respect of misconduct of the employees, the complainant has taken action according to their service rules and the erring officials have been terminated from service. While quashing the proceedings it is requested that this order of quashing proceedings, being in the interest of the company and the company has received the payment of Rs. 4,98,23,500/- the benefit of this order shall not enure to the employees/ petitioners and that they shall be precluded from claiming reinstatement and any other reliefs arising out of their employment by virtue of this order.
Keeping these facts on record, proceedings in Special C.C. N0. 104/2011 pending on the file of XXIII Additional City Civil Judge and Special Judge, Bangalore City Corrected vide order dated 9.12.11 and crime N0. 308/2009 of (sic) Gate, Bangalore, are hereby quashed.
It is placed on record that the Demand Draft for Rs. 4,98,23,500/- is handed over to B.M. Chandrashekar Director, Commercial, Power Corporation of Karnataka Limited, today in the open Court in full and final settlement of the claim of the complainant.
Petitions are disposed off.