HC quashes FIR lodged by V P Singh's son against bank official

The Allahabad High Court has slapped a cost of Rs 10 lakh on Ajeya Singh, son of late Prime Minister V P Singh, besides quashing an FIR he had lodged at a police station here two years ago against a top official of the HDFC Bank.
A division bench comprising Justice Arun Tandon and Justice Umesh Chandra Srivastava passed the order yesterday, allowing a petition filed by D K Gupta, a Deputy General Manager of the bank who had moved the court challenging the FIR lodged by Singh dated December 26, 2014.
The FIR had been lodged at Cantt police station of the city under sections of the Indian Penal Code relating to cheating, forgery, criminal breach of trust and criminal intimidation.

Gupta had alleged in his petition that the FIR was lodged to put pressure on him so that recovery proceedings against Singh, who had defaulted on a loan taken on March 16, 2006, were dropped.
According to the petitioner, Singh had taken the loan in the name of his company Atlantis Multiplex Pvt Ltd.And his outstanding dues stood to the tune of Rs 40 crore, with interest.
The court concurred with Gupta's submission and quashed the FIR while imposing cost on Singh.