Rajasthan High Court Stays Arrest Warrant Issued Against Dhir & Dhir Associates' Alok Dhir In SBI Loan Scam Case

Essentially, the arrest warrant was issued by a Jaisalmer court on February 12, 2020, against Alok Dhir and another employee of Alchemist Asset Reconstruction, Sasi Madathil.

The Bench of Justice Vinit Kumar Mathur noted that the FIR, in which the warrant was issued against Dhir and Madathil, contained similar allegations to an FIR which has already been quashed by the Supreme Court

Facts in brief

The instant FIR was registered in the year 2015 in connection with Jaisalmer Hotel Project, which was financed by the SBI in the year 2007.

Having conducted the investigation in the matter, the police had initially filed a closure report, in response to that, the complainant in the case moved a protest plea, which was ultimately allowed in February 2020 and the petitioners were summoned by issuing the warrant of arrest straight away without having been summoned earlier to this.

It was argued before the Court that on identical facts, in the year 2017, an FIR was registered at Jaipur calling into question this very transaction, however, the FIR was later on quashed by the Supreme Court.

The Counsel for the petitioner also stressed that the matter was civil in nature and an FIR on similar facts was already quashed by the Supreme Court.

Court's observations

Considering the overall facts and circumstances of the case, the Court was of the view that the instant present proceedings arise out of a 2015 FIR, wherein, the allegations leveled against the petitioners are almost the same as that of the 2017 FIR and are related to the same transactions.

"It is noted that the proceeding arises out of the non-repayment of the loan of Rs. 25 Crores, the proceedings undertaken before the NCLT, NCLAT, and the Hon'ble Supreme Court appear to be of civil nature. Further in FIR No. 37/2015, the police after thorough investigation has given the negative final report," the Court firther added.

Therefore, taking into account all the facts and circumstances of the case, the Court ordered that in the meantime and till the next date of hearing, effect and operation of the order dated 12.02.2020 and consequential orders passed by the Chief Judicial Magistrate, Jaisalmer shall remain stayed to the extent of summoning the petitioners through warrant of arrest.

Case title - Alok Dhir and another v. State of Rajasthan

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