- 1 - HC-KAR NC: 2025:KHC:29581 CRL.P No. 3683 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 31ST DAY OF JULY, 2025 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM CRIMINAL PETITION NO.3683 OF 2024 BETWEEN: 1. M/S CARE BIO SYSTEMS INDIA PVT LTD., A COMPANY INCORPORATED UNDER COMPANIES ACT 1956 HAVING ITS OFFICE AT SWARAJ DAFFODILS, GROUND FLOOR NO.8 & 8A, PLOT NO.96 SECTOR 8A AIROLI NAI MUMBAI - 400 708 MAHARASHTRA REPRSENTED BY ITS DIRECTOR PETITIONER NO.2 2. RAVINDRA H. CHAVAN AGED ABOUT 65 YEARS OCCUPATION: SERVICE ADDRESS AT SWARAJ DAFFODILS GROUND FLOOR, 8 & 8A, PLOT NO. 96, SECTOR 8 A AIROLI NAI MUMBAI - 400 708 MAHARASHTRA 3. RIMA RAVINDRA CHAVAN AGED ABOUT 58 YEARS W/O RAVINDRA H CHAVAN OCCUPATION: SERVICE ADDRESS AT SWARAJ DAFFODILS GROUND FLOOR, 8 & 8A, PLOT NO. 96 SECTOR 8 A AIROLI Digitally signed by NAGARAJA B M Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:29581 CRL.P No. 3683 of 2024 NAI MUMBAI - 400 708 MAHARASHTRA 4. RAGHURAY Y. PRABHU AGED ABOUT 56 YEARS OCCUPATION: SERVICE ADDRESS AT SWARAJ DAFFODILS GROUND FLOOR, 8 & 8A PLOT NO.96, SECTOR 8 A AIROLI NAI MUMBAI - 400 708 MAHARASHTRA 5. ANUPRITA RAGHURAY PRABHU AGED ABOUT 54 YEARS W/O RAGHURAI Y PRABHU OCCUPATION: SERVICE ADDRESS AT SWARAJ DAFFODILS GROUND FLOOR, 8 & 8A PLOT NO. 96, SECTOR 8A AIROLI NAI MUMBAI - 400 708 MAHARASHTRA 6. YOGESH SANGHVI AGED ABOUT 56 YEARS OCCUPATION: CHARTERED ACCOUNTANT ADDRESS AT NO.307 SUYASH PLAZA OPP: KALYAN RAILWAY STATION KALYAN WEST MAHARASHTRA - 421301 …PETITIONERS (BY SRI.VISHHAL SAXXENAA, ADVOCATE A/W SRI.C.A.DEVENDRA BABU, ADVOCATE) AND: - 3 - HC-KAR NC: 2025:KHC:29581 CRL.P No. 3683 of 2024 1. SRI.VARADHARAJAN AGED ABOUT 63 YEARS S/O P.RAGHAVAN R/AT NO.245, 4TH CROSS GARDEN VILLAS NAGARBHAVI BENGALURU - 560 072 2. SMT.VIJAYALAKSHMI VARDHARAJAN AGED ABOUT 55 YEARS W/O SRI.VARADHARAJAN R/AT NO.245, 4TH CROSS GARDEN VILLAS NAGARBHAVI BENGALURU - 560 072 …RESPONDENTS (BY SRI.B.R.DEEPAK, ADVOCATE) THIS CRL.P IS FILED U/SEC.482 CR.P.C BY THE ADVOCATE FOR THE PETITIONER PRAYING THAT THIS HONOURABLE COURT MAY BE PLEASED TO QUASH AND SET ASIDE THE ORDER DATED 13.07.2023 PASSED BY THE HONBLE IV ADDITIONAL METROPOLITAN MAGISTRATE COURT, BENGALURU IN PCR NO.5972/2021 THEREBY TAKING COGNIZANCE AGAINST THE PETITIONER FOR THE OFFENCE P/U/SEC.405, 406, 415, 420, 464 R/W SEC 120-B OF IPC ISSUING SUMMONS TO THE PETITIONER AND ALSO DIRECTING THE REGISTRATION OF CALENDAR CASE/CRIMINAL CASE NO.18783/2023 AGAINST THE PETITIONER HEREIN AND ETC. THIS PETITION, COMING ON FOR ADMISSION, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 4 - HC-KAR NC: 2025:KHC:29581 CRL.P No. 3683 of 2024 CORAM: HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM ORAL ORDER This Criminal Petition is filed under Section 482 of the Code of Criminal Procedure, 1973, seeking quashing of the proceedings in P.C.R. No.5972/2021 pending on the file of the IV Additional Chief Metropolitan Magistrate, Bengaluru, for the offences punishable under Sections 405, 406, 415, 420, 464 read with Section 120(B) of the Indian Penal Code. 2. During the pendency of the petition, an affidavit has been filed by respondent No.1 – the complainant, indicating that the dispute between the complainant and the petitioners has been amicably resolved. The terms of the settlement have been recorded in paragraphs 4 and 5 of the affidavit, which are extracted hereunder: "4. I say that I and respondent No.2 have registered the above mentioned P.C.R due to a misunderstanding between me and the petitioners. I have known the petitioners since many years and there have been various business transactions between us in - 5 - HC-KAR NC: 2025:KHC:29581 CRL.P No. 3683 of 2024 the past and our relationship has always been very cordial. The petitioners have agreed to pay a sum of Rs.12,00,000/- (Rupees Twelve Lakhs Only) as goodwill amount after deducting TCS of Rs.1,20,000/- (Rupees One Lakhs Twenty Thousand Only) i.e., Rs.10,80,000/- (Rupees Ten Lakhs Eighty Thousand Only) and a sum of Rs.3,48,673/- (Rupees Three Lakh Forty Eight Thousand Six Hundred and Seventy Three Only) after deducting T.D.S of Rs.14,774/- (Rupees Fourteen Thousand Seven Hundred and Seventy Four Only) i.e., Rs.3,33,899/- (Rupees Three Lakhs Thirty Three Thousand Eight Hundred Ninety Nine) as pending bills of Roshtec Life Science. There will be no dues pending between us now. 5. The petitioners have prepared two Demand Drafts dated 21st July 2025 drawn on HDFC Bank. The Demand Draft of Rs.10,80,000/- (Rupees Ten Lkahs Eighty Thousand Only) is drawn in favor of R.Varadharajan and another Demand Draft of Rs.3,33,899/- (Rupees Three Lakhs Thirty Three Thousand Eight Hundred Ninety Nine) drawn in favor of Roshtec Life Science. The demand drafts will be given to us once we withdraw the Commercial Appeal No.262 of 2023 in the High Court of Karnataka at Bengaluru Bench." 3. As set out in paragraph 4 of the affidavit filed by respondent No.1 – complainant, the petitioners and the complainant have amicably resolved their disputes, - 6 - HC-KAR NC: 2025:KHC:29581 CRL.P No. 3683 of 2024 whereby the petitioners have agreed to pay a sum of ₹12,00,000/- (Rupees Twelve Lakhs only) to the complainant, after deduction of applicable TDS. Further, as stated in paragraph 5 of the affidavit, the petitioners have prepared two Demand Drafts drawn in favour of respondent No.1. It is agreed between the parties that these Demand Drafts will be handed over to respondent No.1 – complainant upon withdrawal of the Commercial Appeal in C.A.No.262/2023, pending before the jurisdictional Court. 4. In view of the above settlement, and considering that the underlying transaction is purely commercial in nature, and the offences alleged are not heinous or of a serious nature affecting society at large, this Court is of the view that no useful purpose would be served by continuing the criminal proceedings. To give a quietus to the dispute and in the interest of justice, this Court deems it appropriate to permit compounding of the offences and quash the proceedings. - 7 - HC-KAR NC: 2025:KHC:29581 CRL.P No. 3683 of 2024 5. Accordingly, in light of the settlement and in view of the complainant having no objection, the proceedings in P.C.R. No.5972/2021 pending on the file of the IV Additional Chief Metropolitan Magistrate, Bengaluru, for the offences punishable under Sections 405, 406, 415, 420, 464 read with Section 120(B) of the Indian Penal Code, are hereby quashed. Consequently, the Criminal Petition stands allowed. All pending applications, if any, stand disposed of. Sd/- (SACHIN SHANKAR MAGADUM) JUDGE NBM List No.: 1 Sl No.: 11