P L D 2009 Lahore 504 (PLP)

This criminal revision petition arises out of the impugned order dated 19-5-2008 whereby the complaint of the petitioner after recording of the preliminary statement of the complainant was dismissed on the ground, that non-compliance of terms and conditions of the loan facility agreement does not constitute any criminal offence under the law.

2. Briefly the facts succinctly required for determination of this revision petition are that respondent No.1 Muhammad Akram had made an application for home-loan facility to the petitioner/complainant on 26-9-2005 and the same was accepted and an amount of Rs.1,095,000 was sanctioned in favour of respondent No.1 after he had executed the relevant charge documents and also provided the agreement to sell with respondent No.2 to the petitioner/complainant and the same pertains to house measuring 3 marlas in Khasra No.780/572, adjacent area 3/480, Khewat No.1207, Khatoni No.2134 according to Jamabandi 1979-80 situated inside Cantt. Mouza Korey Tehsil Cantt. District, Lahore. Respondent No.2 also provided the sale-deed of the above said property, which he intended to sell, to the petitioner/complainant. On the basis of this security, an amount of Rs.1,094,000 was paid to respondent No.2 and as an acknowledgment respondent No.1 who intended to mortgage the said property, also executed memorandum of title deeds in favour of the petitioner/complainant. Respondent No.2 also executed home loan calculation schedule in favour of the petitioner/complainant. Respondent No.1 also signed undertaking to mortgage the said property in favour of the petitioner/complainant. It is also alleged that the respondents are avoiding to complete the sale transaction with the intention of misappropriating the loan amount, therefore, on 5-12-2007, the petitioner had filed a complaint against respondents Nos. 1 and 2, stating that they had committed offences under sections 420, 467 and 468 read with section 34, P.P.C. before the learned Judge, Special Court (Offences in Banks), Punjab, Lahore. Preliminary statement of the complainant was recorded on 3-1-2008. The learned Judge, Special Court (Offences in Banks) Punjab, Lahore, dismissed the complaint of the petitioner vide order dated 19-5-2008. Being aggrieved of the said order, the petitioner has filed this revision petition.

2. Learned counsel for the petitioner has contended that the respondents have misappropriated the security which was to be provided to them and has thus cheated the bank with the intention to commit fraud by not executing the sale deed which is the only security document and on the basis of which this loan facility has been extended, therefore, they have committed offences under sections 420, 467 and 468 read with section 34, P.P.C. and that the petitioner has been deprived of security against the facility provided to respondent No.1, which will cause a huge loss to the petitioner.

3. We have heard learned counsel for the petitioner and have also perused the impugned order.

4. From perusal of the same, it reveals that respondent No.1 entered into an agreement for home finance facility with the petitioner bank, as such, the learned Judge, Special Court (Offences in Banks), Punjab, Lahore, has rightly held that non-compliance of terms and conditions of the loan facility does not constitute any criminal offence under the law. It is necessary to mention here that the remedy under the law in the given circumstances available to the petitioner is of civil nature by adopting to file a recovery suit against the respondents.

5. In these circumstances, we are of the view that the petitioner bank has failed to establish prima facie criminal liability against the respondents. The learned Judge, Special Court (Offences in Banks), Punjab, Lahore, has rightly passed the impugned order dated 19-5-2008, dismissing the complaint of petitioner bank. Therefore, this revision petition is dismissed in limine. N.H.Q. /U-7/L???????????????????????????????????????????????????????????????????????????????????? Petition dismissed.