Delhi High Court rejects the petitions filed by Punjab National Bank

On friday, the Delhi High Court dismissed the petitions filed by Punjab National Bank (PNB) and its late employee IP Singh seeking to invalidate the order of issuance of process under Section 482 of the Criminal Procedure Code.

The petitions aimed for the cancellation of a Patiala House District Court order from March 11, 2019 that summoned the Punjab National Bank’s CEO, MD and other employees of offences under Sections 46 and 47 of the Banking and Regulation Act, 1949 , 120 B of the Indian Penal Code.

They also seek to cancel the criminal complaint filed by Reserve Bank of India against it under Section 200 of the Criminal Procedure Code read with Section 47 of the Banking Regulation Act, 1949.

PNB claimed that due to
lack of identification of a particular sub section of 46, great damage had been faced by them.

Further it was added that RBI’s criminal complaint and order dated March 11, 2019 of the Patiala House court was ex facie illegal and same must be nullify on basis of one-sided allegations.

The Court proceeded to dismiss the plea by PNB after hearing the respondent.

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