Nagpur, Oct. 26 -- The Nagpur Bench of the Bombay High Court has quashed a First Information Report (FIR) alleging a Rs 4.31 crore gold fraud, involving Ashutosh Natwar Mundada, a Nagpur-based jeweller and the Banka family, directors of Kolkata-based firms Banka Bullions and G.K. Trexim.
The Division Bench, comprising Justices Nandesh S. Deshpande and Urmila Joshi-Phalke set aside the FIR and the related chargesheet dated December 23, 2023.
The court observed that the dispute was purely civil in nature and should not have been escalated into a criminal case.
The court noted that the complaint, filed nearly three years after the alleged transaction, lacked credibility and appeared to be an abuse of the legal process.
The case stemmed fro...