The Supreme Court ruled that a proprietorship is only a trade name and not a juristic person with separate legal status, holding that while such a concern can be sued, it cannot itself initiate legal proceedings.
The Supreme Court of India dismissed criminal proceedings against HDFC Bank, ruling that a corporation cannot possess mens rea, or criminal intent, needed for liability under the IPC. The court emphasized that the bank officials acted inadvertently in misinterpreting orders, lacking evidence of malicious intent or misappropriation, thus quashing the FIR.