High Court
Writ petitions—Challenge to the order passed by Single Judge of High Court quashing criminal proceedings—SEBI matters—Allegations with regard to certain fraudulent activities committed in the IPO of shares of Yes Bank and IDFC—Case registered by CBI under various provisions of IPC, Prevention of Corruption Act and Companies Act—First round of proceedings arising out of writ petition was heard and disposed of by the Division Bench, with the Division Bench rejecting the contention of the respondent and dismissing the writ petitions—When the matter travelled to the Apex Court, the respondent withdrew the SLP with liberty to file a fresh petition—Subsequently petition filed before the High Court was listed before Single Judge who quashed the criminal proceedings—On the facts of case considering the earlier order of the Division Bench and the order of the Apex Court granting liberty to file a fresh petition, the present case in the second round ought to have been heard by the Division Bench—Impugned judgment set aside and writ petitions remanded to be heard by a Division Bench of the High Court—As to whether the respondent had made out a case for quashing the proceedings will be independently decided by the Division Bench which will now hear the matter on remand—Appeal allowed. [Criminal Procedure Code, 1973, Section 482]
[Paras 19 to 26]