VANDANA JAIN Vs. STATE OF UTTAR PRADESH

JUDGEMENT

(1.) Leave granted.

(2.) This appeal impugns the judgment and order of the High Court of Judicature at Allahabad [High Court] dtd. 30/7/2021 passed in Misc. Bench No. 16314 of 2021 whereby the writ petition of the appellants seeking quashing of FIR [First Information Report] No.0112 of 2021, dtd. 14/3/2021, lodged at Police Station (for short, P.S.) Hazratganj, District Lucknow, under Ss. 406, 420, 467, 468 and 471 of the Indian Penal Code, 1860 [IPC], has been dismissed.

(3.) Vandana Jain (appellant no. 1), Divya Bhatia, Siddharth Jain (appellant no.2) and Kanishk Jain (appellant no.3), described as first party, entered into a joint venture agreement [JVA] dtd. 16/8/2010 with Motor General Sales Ltd. (Respondent No.2), described as second party. As per the terms and conditions of the JVA, the first party gave development rights to the second party for developing land i.e., Plot No. 61 (Old No. 276A), admeasuring 1500 Square Yards, bearing Municipal No. 3A/207 & 208, Azad Nagar, Kanpur. Under the agreement, the second party was required to construct residential units/apartments over the land at its own cost. The capital contribution of the first party was the land which was valued at Rupees Two Crores Fifty Lacs Only. The project was to come up as a single unit in which both first and second party had 50% share.