JOSE THOMAS Vs. STATE

JUDGEMENT

(1.) This petition is filed by the petitioner-accused No.2 under Sec. 482 of Cr.P.C. for quashing the FIR in Crime No.143/2019 registered by Nelamangala Town Police Station, Bengaluru and investigating by the CID Police for the offences punishable under Ss. 120B , 420 , 406 , 408 read with Sec. 34 of Indian Penal Code, 1860 (for short ' IPC ') and Sec. 4 of the Prevention of Money Laundering Act, 2002 (for short 'PML' Act).

(2.) Heard the arguments of learned counsel for the petitioner and learned S.P.P. for the State.

(3.) The case of the prosecution is that on the first information sent by one P.N.Ravindra, Deputy Commissioner and District Magistrate of Bengaluru Rural District, the Police registered a case and it is alleged that accused No.2 is said to be the Yellow Express Logistics Company and accused No.1 is the Managing Director and accused No.3 and others are the members of the said company running non-banking financial business at Chakkasandra road, Nelamangala Taluk. They received huge investment from the general public, they are running five different businesses in different names having its 2000 deposit accounts and 200 shares and each account is having balance of Rs.2.05 lakhs and they have assured to give one car to each account holder, if they deposit Rs.27,000.00 per month and they also executed registered agreements and has given cars to 63 people and also registered 150 cars in the name of the company and all the cars were attached to the uber/ola company. It is further alleged that the company was paying Rs.10,000.00 each to the account holder per month, but, they have not registered under Reserve Bank of India, hence, they are not eligible for receiving the deposit from the public. Therefore, to protect the interest of the investors and investors' money was involved and based upon the complaint, the Nelamangala Police registered the FIR and now, the CID has took up the investigation which is under challenge.