PARSHANT JAIN Vs. STATE

JUDGEMENT

(1.) The present application under Sec. 438 of the Code of Criminal Procedure, 1973 ('CrPC') seeks anticipatory bail in case FIR No. 130/2022, under Ss. 406/409/420/120B of the Indian Penal Code, 1860 ('IPC'), registered at P.S. Barakhamba Road.

(2.) The case of the prosecution is that the present FIR was registered at the instance of Sumit Agarwal (hereinafter referred as the 'complainant') against the present applicant as well as other accused persons. The case of the complainant is that he is engaged in business of wholesale trade of synthetic yarns. It is alleged that in July 2021, one Mr. Rishab Jain (co-accused), who was known to him, introduced the complainant to the present applicant and suggested that the complainant could sell yarn through the applicant's proprietorship firm, i.e., M/s Prashant Zippers. It is further alleged that the present applicant introduced him to one Mr. Jitender Goyal, who claimed to be the former's father-in-law and subsequently induced him to enter into a transaction whereby they would purchase yarn from the company of the complainant at a discounted price in lieu of their fee/commission and thereafter sell it in the market and that they would make the payment to the complainant within 07 days from the date of invoice. It is alleged that on the basis of the aforesaid inducement, the complainant supplied polyester yarn to them vide various invoices, for a total amount of Rs.1,63,10,109.00. It is alleged in the FIR that the present applicant made a part payment of Rs.21,08,575.00. It is further alleged that on 1/6/2022, the complainant received a hand-written note on WhatsApp from the present applicant asking all his creditors who were wholesale yarn dealers to come to his factory at Narela on 2/6/2022 at 11:00 AM. It is alleged that at the said factory, the present applicant came to the said factory alongwith his father Surender Jain and in presence of all the traders stated that his total liability towards all of them has become zero and that he would not pay anyone for their goods. It is further alleged that the present applicant used to buy yarn from the wholesale dealers and sell the same on a lower price and by adopting this practice, the applicant caused a loss of Rs.50.00 Crores to wholesale dealers including the present complainant. The present FIR was registered and investigation was conducted.

(3.) Learned counsel appearing on behalf of the applicant submits that the present dispute is purely civil in nature. It is pointed out that the applicant and the complainant had a running account and as per the accounts, the complainant in fact owes an amount of Rs.1,81,41,323.00 to the firm of co-accused Rishab Jain which has been intentionally concealed by the complainant in the present FIR. It is further submitted that the applicant made a payment of Rs.3.00 lakhs even after registration of the FIR on 18/1/2023. It is further submitted that the applicant has joined investigation in pursuance of the interim protection granted by this Court and is cooperating with the Investigating Officer. It is further submitted that so far as the other FIRs pending against the present applicant are concerned, the applicant is either on bail or interim protection granted by the Court of competent jurisdiction.