New Delhi: A Delhi court on Friday accepted the Central Bureau of Investigation's (CBI) closure report seeking to drop all charges against elusive Italian businessman Ottavio Quattrochhi in the two-decade-old scandal.

Chief Metropolitan Magistrate Vinod Yadav observed, “At this moment we have to end the case therefore I allow the CBI plea to close the case. I think the CBI has moved this application to close this case after applying their minds, therefore there is no need of wasting public money in continuing the investigation.”

The CBI had in October 2009 sought permission of the court to withdraw the case against Quattrocchi, saying his continued prosecution was "unjustified" in the light of various factors including the agency's failed attempts to get him extradited -- first from Malaysia in 2003 and then from Argentina in 2007.

A charge sheet was filed against Quattrocchi for allegedly receiving a payoff for brokering the Bofors gun deal.

The CBI had registered a criminal case on January 20, 1990 to probe who were the beneficiaries of the payoffs in the 1986 Bofors gun deal.

After completing its probe, the investigative agency had filed two charge sheets in the case -- first on October 22, 1999 and the other on October 9, 2000.

The CBI had contended that there was no change in the government's stand on withdrawing the case against Quattrocchi in the wake of the Income Tax Appellate Tribunal (ITAT) order, which had said that kickbacks of Rs 61 crore were paid to late Win Chaddha and Quattrocchi in the Howitzer deal.

"The continuance of prosecution against Quattrocchi will be unjustified. It is considered expedient in the interest of justice that the proceedings against him should not be continued and be withdrawn," the CBI had pleaded in its nine-page application seeking withdrawal of case.

Advocate Ajay Agrawal, who has been pursuing the case in the Supreme Court and had approached the trial court against the CBI's move to seek a closure of the case, had contended that the Centre and the agency were trying to close the case despite having sufficient evidence against Quattrocchi.

The plea was countered by the CBI which said it was difficult to secure presence of Quattrocchi for prosecution and, moreover, all other accused are either dead or charges against them have been quashed by the Delhi High Court.