In Brief
A property developer was accused of cheating and misappropriating funds in a property sale agreement. The High Court quashed the criminal proceedings, treating the dispute as purely civil since arbitration was ongoing. The Supreme Court reversed this decision, holding that criminal offences committed during commercial transactions must proceed to trial. The existence of arbitral remedies does not bar criminal prosecution. Allegations in an FIR, taken at face value, disclosed prima facie offences under Sections 406 and 420 IPC. The trial court was directed to proceed expeditiously, with the Court's observations made only for disposal purposes and not as expressions on merits.
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