My client, who is an officer of a financial organisation, was working as an Area Officer. During that period he was also empowered as Certificate Officer under the PDR Act. One loanee, who applied for loan to construct his residential house and got the first instalment of the said loan. But he didnot repay the loan amount in time. As such, a notice was given to him directing to pay the dues. Instead of payment, he filed a Complaint Case u/s 406, 420, 120B IPC against my client including another person alleging that in spite of his several approach, he could not get the loan and when he approached my client, he demanded a bribe of Rs. 10,000/- but he paid Rs. 5,000/- to get the loan amount. The learned CJM sent his petition to the police station to register a criminal case. Case was registered and the police filed the Charge sheet against both the accused persons. Though, in course of investigation the IO found that the total loan amount sanctioned to the loanee has been paid to him. Further, the IO could not found any material regarding the payment of bribe to my client.
Now the question is --- whether any offence is made out u/s 406 and 420 in view of the aforesaid facts and circumstances ?