- 1 - NC: 2025:KHC:17789 CRL.P No. 2597 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 29TH DAY OF APRIL, 2025 BEFORE THE HON'BLE MR. JUSTICE HEMANT CHANDANGOUDAR CRIMINAL PETITION NO.2597 OF 2025 BETWEEN: SUNIL S. PAWAR PROPRIETOR OPTIONS KING RESEARCH ANALYST AGED ABOUT 56 YEARS SON OF SUKHLAL PAWAR HAVING HIS PLACE OF BUSINESS AT RAGHUNATH VIHAR, KHARGHAR NAVI MUMBAI, MAHARASTRA-410210. …PETITIONER (BY SRI. HARSHITH N. BALAKRISHNA, ADV.,) AND: 1. STATE OF KARNATAKA REP. BY CENTRAL CEN POLICE STATION BENGALURU-560020. 2. PRINCE .R AGED ABOUT 40 YEARS SON OF RAMAR C RESIDING AT NO.163, 13A CROSS RAJENDRANAGARA KORAMANGALA BENGALURU-560047. …RESPONDENTS (BY SRI. RAHUL RAI K, HCGP FOR R1 SRI. CHANDAN SANJAY BHAT, ADV., FOR R2) Digitally signed by ARSHIFA BAHAR KHANAM Location: High Court of karnataka - 2 - NC: 2025:KHC:17789 CRL.P No. 2597 of 2025 THIS CRL.P IS FILED U/S 482 OF CR.P.C. (FILED U/S 528 BNNS) PRAYING TO QUASH THE IMPUGNED COMPLAINT AND FIR DATED 29.08.2024 (ANNEXURE-A AND B) IN CR.NO.538/2024 PENDING ON THE FILE OF XLV ADDL. C.J.M AT BENGALURU IN RELATION TO OFFENCES P/U/S 66(D) OF THE I.T. ACT 2000 AND SEC.420 OF IPC 1860. CONSEQUENTLY, SET ASIDE THE ORDER DATED 23.09.2024 (ANNEXURE-C) AS THE SAME HAS BECOME INFRUCTUOUS IN THE LIGHT OF THE SETTLEMENT ENTERED BETWEEN THE PETITIONER AND THE DE-FACTO COMPLAINANT DATED 10.10.2024 AT ANNEXURE-G & ETC. THIS PETITION, COMING ON FOR ADMISSION, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE HEMANT CHANDANGOUDAR ORAL ORDER 1. The petitioner challenges the registration of Crime No.538/2024 for the offences punishable under Section 66(D) of the Information Technology Act, 2000 and Section 420 of the IPC. 2. Respondent No.2 lodged the First Information Report alleging that the petitioner, a registered stockbroker, induced him to invest in the stock market and thereby caused monetary loss. 3. The petitioner has annexed a settlement agreement entered into between himself and Respondent No.2. As per the terms of the settlement, the petitioner has paid a sum of Rs.2,01,000/- to Respondent No.2 towards full and final - 3 - NC: 2025:KHC:17789 CRL.P No. 2597 of 2025 settlement of his claim. Respondent No.2 has agreed to withdraw all allegations and has no objection to quashing the impugned proceedings. 4. Although the offences alleged are cognizable and non-compoundable, given that the parties have amicably resolved the dispute, it would be futile to subject the petitioner to investigation, as the probability of the police filing a charge sheet is remote and bleak in view of the settlement. In such circumstances, continuation of the investigation would amount to an abuse of the process of law. Accordingly, the petition is allowed. The First Information Report in Crime No.538/2024 registered by Central CEN Police Station, Bengaluru, is hereby quashed. 5. Respondent No.1 is hereby directed to instruct the concerned bank to defreeze the petitioner’s bank account. Sd/- (HEMANT CHANDANGOUDAR) JUDGE BSR List No.: 1 Sl No.: 171