Madras High Court
CRL OP/20223/2026 of Achievers Agri India(p) Ltd Vs State rep by Deputy Superintendent of Police on 2 November 2026
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 24-09-2026
CORAM
THE HON'BLE MR. JUSTICE G.K. ILANTHIRAIYAN
CRL OP No.20223 of 2026
CNR:{HCMA011628102026}
and CRL MP No.13494 of 2026
1. M/s.Achievers Agri India (P) Ltd.,
Rep. by its Managing Director,
2nd Floor, Subam Towers,
Meiyannor Main Road, 5 Roads,
Salem.
2. M.S. Sivakumar
3. R. Madesh
4. R. Narrayanappa
5. V. Padmanabasoundappan
..Petitioner(s)
Vs
State Rep. by the Deputy Superintendent of Police, Economic Offence Wing II, Salem.
..Respondent(s)
PRAYER: Criminal Original Petition filed under Section 528 of BNSS, praying to call for the records in the case of C.C.No.11 of 2015 on the file of the learned Special Judge, TNPID Court, Coimbatore, to quash the same.
For Petitioner(s):
Mr.R.Syed Mustaf
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For Respondent(s):
Mr.M.Dinesh,
Government Advocate (Crl.Side)
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ORDER
This petition has been filed to quash the proceedings in C.C.No.11 of 2015, pending on the file of the TNPID Special Court, Coimbatore.
2. The case of the prosecution is that the 1st petitioner company commenced its operations on 05.05.2007, with the petitioners 2 to 5 acting as Directors, and introduced various financial schemes. Due to a sudden collapse in the financial market, the petitioners could not pay back the depositors. Consequently, they filed a company petition in C.P.No.15 of 2015 for winding up the company and for the appointment of an Official Liquidator to take charge of the assets for distribution among the creditors. This Court, vide order dated 29.04.2015, appointed a Provisional Official Liquidator.
3. In the interim, on 13.01.2015, the de facto complainant, K.Jayanthi, lodged a complaint against the petitioners. The respondent
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police registered the same in Crime No.1 of 2015 for the offences under Sections 120(B), 420 of the IPC and Section 5 of the TNPID Act. Subsequently, multiple complaints were filed by several other depositors regarding defaults totalling Rs.23,10,940/-. Upon completion of the investigation, Charge Sheet No.3 of 2015 was laid in C.C.No.11 of 2015, and cognizance was taken by the Trial Court.
4. According to the prosecution, there were a total of 75 depositors and during the trial, 74 of them were examined before the Trial Court as P.W.1 to P.W.74. During the pendency of the trial, the victim depositors were settled by the accused and they deposed to that effect before the Trial Court.
5. Initially, the learned Public Prosecutor objected to quash the entire proceedings on the ground that the claims of all depositors, except P.W.63, had been settled. Subsequently, the dues of P.W.63 were also settled by way of a deposit made before the Trial Court. P.W.63 has filed a memo to withdraw the amount, which is currently pending because the present quash petition is pending before this Court with an interim stay. The learned
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Government Advocate (Criminal Side) has confirmed that all the victim depositors have been duly paid their respective amounts and that they have deposed to this effect before the Trial Court.
6. In view of the complete settlement, the continuation of the trial would serve no useful purpose. To secure the ends of justice, this Court is inclined to quash the entire proceedings.
7. Accordingly, this criminal original petition stands allowed, and the entire proceedings in C.C.No.11 of 2015, pending on the file of the TNPID Special Court, Coimbatore, are hereby quashed. The Trial Court is directed to permit P.W.63 to withdraw the amount that has already been deposited by the petitioners/accused. Connected miscellaneous petition is closed. 24-09-2026 Index: Yes/No Speaking/Non-speaking order Neutral Citation: Yes/No Sni
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To
1. The Special Judge, TNPID Special Court, Coimbatore.
2. The Deputy Superintendent of Police, Economic Offence Wing II, Salem.
3. The Public Prosecutor, Madras High Court.
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Crl.O.P.No.20223 of 2026 G.K.ILANTHIRAIYAN, J. This Criminal Original Petition has been listed today under the caption ‘for being mentioned’ at the instance of the learned counsel for the petitioners.
2. The learned counsel for the petitioners submit that the amount has been wrongly mentioned in the third paragraph as Rs.23,10,940/- instead of Rs.41,23,420/-
3. Considering the submissions of the learned counsel appearing for the petitioner, the amount mentioned in the third paragraph of the Order in Crl.O.P.No.20223 of 2026, dated 24.09.2026 shall be read as Rs.41,23,420/-
4. The registry is directed to incorporate the above correction and issue fresh Order copy to the parties concerned. 02.11 2026 vrc
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G.K.ILANTHIRAIYAN J. Sni CRL OP No.20223 of 2026 and CRL MP No.13494 of 2026 24-09-2026
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