CHARANJIT GROVER Vs. STATE

JUDGEMENT

(1.) The present petition is filed by the petitioner under Section 482 Cr.P.C. praying inter alia for quashing/setting aside of the order dated 2.6.2005 passed in Criminal Revision Petition No.238/2003 filed by the petitioner against the order dated 6.7.2002, passed by the learned Metropolitan Magistrate, by which charges were framed against him and eight others, on the basis of a complaint lodged by M/s. M.S. Shoes East Ltd., by virtue of F.I.R. No.377/2000 lodged by the respondent No.2/complainant under Sections No. 406/420/120-B I.P.C. registered with PS Punjabi Bagh, Delhi.

(2.) The case of the complainant was that the petitioner along with three others had proposed to transfer their entire shareholdings in M/s. Grover International Ltd., to the complainant company. After negotiations, the complainant company entered into an agreement with the petitioner to purchase the entire shareholdings of M/s. Grover International Ltd. for a sum of Rs. 2.10 crore. While the entire amount was paid by the complainant company, as per the said agreement, the petitioner and eight other co-accused failed to discharge their obligations under the agreement, by transferring their shareholdings in favour of the complainant company, which resulted in registration of the aforesaid F.I.R. The case is stated to be at the stage of framing of charges. The complainant company also filed a civil suit on the Original Side of this Court, registered as C.S. (OS)No. 1178/1998, against the petitioner and three other co-accused, seeking specific performance of the agreement. In the said proceedings, the parties were referred to mediation, which has resulted in a settlement duly recorded in M.O.U. dated 31.10.2009 (Annexure-A).

(3.) As per the aforesaid M.O.U., it was agreed between the parties that the petitioner would pay a sum of Rs. 2.10 crore to the complainant company in installments spreading over 5 years. The remaining terms and conditions of the settlement have been set out in the M.O.U. from paras (b) to (j) thereof. Both the parties confirm having signed the settlement agreement of their own free will and volition, and without any fear, coercion or undue influence from any quarter whatsoever. They undertake to remain bound thereunder. A copy of the resolution passed by the Board of Directors of the complainant company in a meeting held on 30.10.2009, authorizing its C.M.D. to enter into the settlement, is handed over by the counsels for the parties and is taken on the record. The C.M.D. of the complainant company, who is present in the Court, confirms that he is authorized to enter into the settlement.