Supreme Court revives FIR in gold loan dispute case involving Abhishek Singh.
SC REVIVES FIR IN ABHISHEK SINGH GOLD PLEDGE CASE AGAINST BANK MANAGERS
CASE SUMMARY – In Abhishek Singh vs. Ajay Kumar & Ors., the Supreme Court reinstated criminal proceedings quashed by the Patna High Court. Singh, who had pledged gold for a bank loan and repaid the amount, was denied return of the pledged gold after the bank alleged it was fake. Singh filed an FIR, which was quashed. The Supreme Court found the High Court erred by drawing conclusions on intent without trial and highlighted that the gold remained in the bank’s custody. Holding that a prima facie case was made out, it restored the FIR, directing the trial court to proceed.
| ASPECTS | DETAILS |
| Case Title | Abhishek Singh vs. Ajay Kumar & Ors., |
| Introduction | The appellant challenged a Patna High Court order that quashed his FIR alleging misappropriation of gold pledged against a bank loan. |
| Factual Background | Abhishek Singh took a gold loan of ₹7.7 lakhs in 2020, pledging 254g of gold. He repaid ₹8.01 lakhs in 2023. The bank revalued the gold and claimed it was fake, refusing to return it. Singh lodged an FIR, which the High Court quashed. |
| Legal Issues | Whether the High Court rightly quashed the FIR under Section 482 CrPC; whether prima facie a cognizable offence was made out. |
| Applicable Law |
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| Analysis | The Supreme Court held the High Court overstepped its jurisdiction by concluding intent and merit without trial. No third-party verification of the revaluation was undertaken. The gold was under bank custody at all times. |
| Conclusion | The Supreme Court restored the FIR and directed the trial to proceed, finding the High Court’s quashing order legally unsound. |
| Current Scenario | The matter will proceed before the trial court as per the directions of the Supreme Court. |
SC REVIVES FIR IN ABHISHEK SINGH GOLD PLEDGE CASE AGAINST BANK MANAGERS
“The bank had custody of the gold; tampering cannot be ruled out without trial
SOURCE – SUPREME COURT OF INDIA
READ ALSO – SECTION 34 OF IPC
