- 1 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 8TH DAY OF APRIL, 2026 BEFORE THE HON'BLE MR. JUSTICE M.NAGAPRASANNA CRIMINAL PETITION NO. 2369 OF 2026 C/W CRIMINAL PETITION NO. 11607 OF 2024 IN CRL.P No. 2369/2026 BETWEEN: GANESH PRASAD OKADE SON OF HARIHARBHAT OKADE AGED ABOUT 50 YEARS FLAT NO. 005, BLOCK 3 RMV CULSTERS, PH 2 LOTTEGOLLAHALLI DEVINAGAR BANGALORE- 560 094 …PETITIONER (BY SRI. ADITYA NARAYAN., ADVOCATE) AND: RESERVE BANK OF INDIA HAVING ITS CENTRAL OFFICE AT CENTRAL OFICE BUILDING SHAHID BHAGAT SINGH MARG MUMBAI 400 001 AND ITS REGIONAL OFFICE AT NO. 10/3/8, NRUPATHUNGA ROD BANGALORE 560 001 Digitally signed by SANJEEVINI J KARISHETTY Location: High Court of Karnataka - 2 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 REPRESENTED HEREIN BY ITS MANAGING DIRECTOR …RESPONDENT (BY SRI. MANIK.B.T., ADVOCATE) THIS CRL.P IS FILED U/S 482 CR.PC (FILED U/S 528 BNSS) BY THE ADVOCATE FOR THE PETITIONER PRAYING THAT THIS HONOURABLE COURT MAY BE PLEASED TO QUASH AND EXPUNGE THE OBSERVATIONS AND FINDINGS CONTAINED IN PRARAGRAPH 8 OF THE ORDER DATED 30.10.2025 PASSED IN CC.NO.177/2009, INSOFAR AS THEY RELATE TO THE PETITIONER/ACCUSED NO.10. IN CRL.P NO. 11607/2024 BETWEEN: 1. GANESH PRASAD OKADE AGED ABOUT 48 YEARS, S/O HARIHAR BHAT OKADE HARIHAR BHAT OKADE FLAT NO.005, BLOCK-3, RMV CLUSTERS, PH-2, LOTTEGOLLAHALLI DEVINAGAR, BANGALORE-560094 ...PETITIONER (BY SRI. ADITYA NARAYAN.,ADVOCATE) AND: 1. RESERVE BANK OF INDIA HAVING ITS CENTRAL OFFICE AT CENTRAL OFFICE BUILDING, SHAHID BHAGAT SINGH MARG, - 3 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 MUMBAI-400001 AND ITS REGIONAL OFFICE AT NO.10/3/8, NRUPATHUNGA ROAD, BANGALORE-560001 REPRESENTED HEARING BY ITS MANAGING DIRECTOR, 2. YASHASWI LIMITED (FORMERLY KNOWN AS YASHASWI LEADING AND FINANCE LIMITED) UNDER LIQUIDATION) HAVING ITS REGISTERED OFFICE AT S.F -10, CITY POINT, 13, INFANTRY ROAD, BANGALORE-560001 3. NIRANJAN NAKSHATRI NO.49, 3RD MAIN, M S H LAYOUT, 2ND STAGE, ANANDNAGAR, BANGALORE-560024 4. U ANANTHA PADMANABHA BALLAL NO.15, 11TH A MAIN ROAD, VASANTHNAGAR, BANGALORE-560052 5. WS T RAGHAVENDRA MADY TAPOVAN 45/2, 17TH MAIN ROAD, BLOCK-E, 46TH CROSS, J P NAGAR II PHASE, BANGALORE-560078 6. H N SREEDHAR - 4 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 ADITYA NO.27/A, GOKULAM MAIN ROAD, MYSORE. 7. M RAGHUNATH SHET BEHIND GOVERNMENT WAREHOUSE, MANMAGUDDA, MANGALORE-575003 8. GOVINDARAYA S KAMATH 7/1, 8TH MAIN ROAD, 3RD BLOCK, JAYANAGAR, BANGALORE-560011 9. PRATAP CHITTAPPA 64, SKANDA, VITTAL MALLYA ROAD, BANGALORE-560011 10. T S GOPALAKRISHNA ARPITHA III CROSS, NEHRU NAGAR, SAGAR-577401 11. P YAJNA NARAYANA AITHAL 9TH MAIN ROAD, NO.1082, UPSTAIRS, SRINIVASA NAGAR, BANGALORE-560050 12. RAJESH CHANDRAPPA GOWDA KATTEMANE, DASARAHALLI, HEBBAL, BANGALORE-560024 13. CHARU KEERTHI NO.2O, - 5 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 CHIKKABYRAPPA ROAD, SRIRAMPURA, BANGALORE. 14. JATAPPA R SHAM MEENAKSHI LAYOUT, IST PHASE, BANGALORE-560078 ...RESPONDENTS (BY SRI. MANIK B T.,ADVOCATE) THIS CRL.P IS FILED U/S 482 CR.PC (FILED U/S 528 BNSS) BY THE ADVOCATE FOR THE PETITIONER PRAYING THAT THIS HONOURABLE COURT MAY BE PLEASED TO SET-ASIDE THE ORDER DATED 29.01.2024 PASSED BY THE LEARNED XXVIII ADDL. CITY CIVIL AND SESSIONS COURT, MAYO HALL, BANGALORE IN CRL.R.P.NO.25059/2021 AND ALSO THE ORDER DATED 02.07.2021 PASSED BY THE LEARNED JUDICIAL MAGISTRATE FIRST CLASS (TRAFFIC COURT - I), (PREVIOUSLY, METROPOLITAN MAGISTRATE TRAFFIC COURT-I) IN C.C.NO.177/2009. THESE PETITIONS, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 6 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 CORAM: HON'BLE MR. JUSTICE M.NAGAPRASANNA ORAL ORDER The petitioner is before this Court calling in question the order dated 02.07.2021, which rejects the application of the petitioner seeking his discharge from the array of accused and the order that confirms the said order dated 29.01.2024 and seeks quashment of C.C.No.177/2009 in a petition preferred in the year 2024/2025. 2. Heard Sri. Aditya Narayan, learned counsel appearing for the petitioner and Sri. Manik B.T., learned counsel appearing for the respondent. 3. The petitioner is accused No.10. A crime comes to be registered at the hands of the Reserve Bank of India. The Reserve Bank of India registers a complaint against all the accused alleging for the following offences: "i. Failure to repay deposits on maturity as required under Section 45-QA (1) of the Act; ii. Failure to comply with order of the Company Law Board punishable under section 58-B (4-AAA) of the Act; iii. Not maintaining a minimum net owned fund of INR 25,00,000 for carrying on an NBFC business as mandated by Section 45-IA of the Act; - 7 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 iv. Not maintaining the statutory requirement of SLR thus contravening Section 45-IB(1) of the Act. v. Failure to lodge the SLR securities with the designated banker, thus violating the provisions of paragraph 6 of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998. vi. Failure to transfer 20% of the net profit disclosed in the Respondent No.1 Company's profit and loss account to the Reserve Fund as per Section 45-IC of the Act; vii. Not maintaining a Capital to Risk Assets Ration of 12% as per Paragraph 10 of the Prudential Norms Directions; and viii. Granting loans and advances in excess of 15% of its own funds to a single borrower in contravention of Paragraph 12(1)(i)(a) of the Prudential Norms Directions." 4. The petitioner then is protected at the hands of the Co-ordinate Bench by grant of an interim order. The petitioner has filed a subsequent petition on the score that despite the grant of an interim order, the concerned Court has drawn certain observations against the petitioner, which would prejudice his case, as the concerned Court has already drawn inference that it is a matter of trial. The issue is of the year 2008. The private complaint so preferred by the Reserve Bank of India, which then becomes C.C. is of the year 2008. The issue that forms the fulcrum of the private complaint was of the - 8 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 year 2003. Therefore, 23 years later now the petitioner is wanting to invoke the jurisdiction of this Court to obliterate those proceedings either of 2008 or 2009 or the orders of discharge of 2024 or otherwise. 5. In the light of the trial in progress against all others, except the petitioner in the light of the interim order so granted at the hands of the Co-ordinate Bench of this Court, the petition would not merit any consideration at this juncture, when the trial is at its fag end. 6. The petitioner seeks to project that there is nothing against him. He is simply drawn into the web of proceedings, but the petitioner has not sprang as accused No.10, today, he is accused No.10 in the year 2008, itself. In that light, since the issue is of the year 2008, which is now 18 years old, I deem it appropriate to direct the petitioner to participate in the trial and the concerned Court to conclude the trial, within an outer limit of three months, in accordance with law, as observed hereinabove, since the story is of 18 years vintage today. - 9 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 7. The learned counsel appearing for the petitioner now submits that he is wanting to travel beyond the shores of this nation. In the light of the conclusion of the trial directed, this Court cannot consider the application so filed seeking permission to travel. The petitioner is at liberty to file it before the concerned Court and the concerned Court to pass necessary orders, thereon, in accordance with law, bearing in mind that the petitioner has been permitted to travel on earlier occasions beyond the shores of this nation. 8. The learned counsel appearing for the petitioner further submits that in the light of the interim order granted, the petitioner was not heard prior to the framing of the charge and charge is not yet framed against him in the light of the interim order. Therefore, the petitioner shall be heard before the charges are framed in accordance with law and necessary orders be passed, thereon. 9. The observation of any kind made, which forms the fulcrum of Sl.No.18 would not influence or come in the way of the concerned Court to consider the aforesaid directions, in accordance with law. - 10 - HC-KAR NC: 2026:KHC:19382 CRL.P No. 2369 of 2026 C/W CRL.P No. 11607 of 2024 10. With the aforesaid observation, the petitions stand disposed. The interim order of any kind stands dissolved. Sd/- (M.NAGAPRASANNA) JUDGE JY List No.: 2 Sl No.: 18