BIBEK SINGH MEHTA Vs. STATE OF NCT DELHI

JUDGEMENT

(1.) The instant petition under Sec. 482 of the Code of Criminal Procedure, 1973 ('Cr.P.C.') has been filed on behalf of petitioner seeking partial quashing of FIR bearing No. 161/2022, registered at Police Station Economic Offence Wing (EOW), New Delhi for the offences punishable under Ss. 406/420/120B of the Indian Penal Code, 1860 ('IPC') and all consequential proceedings emanating therefrom.

(2.) Brief facts as per the case of the prosecution in the present case are that FIR was registered on the complaint of one Sh. Vikas Garg wherein he had leveled allegations of cheating and breach of trust against a partnership firm namely M/s Caprise Financial Services (herein referred to as 'Firm') through its partners namely Deep Saxena, Amit Arora, Bibek Singh Mehta i.e., the present petitioner, Mohit Gupta and others. Further, during the course of investigation, some other victims had also filed their complaints against the alleged Firm and its partners, leveling similar allegations of cheating and breach of trust. Thereafter, on the allurement/assurances of accused persons, the complainants made several investments in his name and also in the name of his family members and had transferred the amount in the bank accounts of the alleged firm. Similarly, in the month of December 2018, alleged firm partners had also convinced one Sushil Gupta (another investor and relative of complainant Vikas Garg) to invest with the said firm. Sushil Gupta along with his family members had a share portfolio account of total value of Rs.62,40,125.00 and same was duly acknowledged by one Deep Saxena. Further, neither the accused persons had returned the invested money nor the shares portfolio, which was entrusted to the alleged two persons/their firm. Later, the accused persons had left their offices and had switched off their mobile phones and were not traceable any more. During the course of investigation, so far, the quantum of cheated amount involved has been found to be around Rs.6.00 crores (approx.), which was invested by 16 families (around 41 persons) with the accused partnership firm. As per the reply received from the Registrar of Firms, the accused persons had incorporated/registered a partnership firm namely, M/s Caprise Financial Services, under the Indian Partnership Act with the Registrar of Firms vide No. ROF/North/ 120/2017 dtd. 13/10/2017. Deep Saxena (30% share), Amit Arora (30% share), Bibek Singh Mehta (30% share) and Mohit Arora (10% share) are the four partners of in the firm. In the present case also as per the case of the prosecution, the partners of the partnership firm had acted as agents of the partnership firm with malafide intention, misrepresentation, allurement on pretext of high returns, who collected/accepted money from general public in the name of share trading and knowingly showed the victims money as unsecured loan in the books of their partnership firm without their knowledge or any documentation in this regard. Therefore, Sec. 409 IPC was also added in the present case. As per case of the prosecution, the petitioner was holding 30% partnership in the accused partnership firm from the inception to 31/3/2020 (as he had entered into Dissolution cum Retirement Deed with the other partners of Firm).

(3.) This Court notes that the present petition for quashing of the FIR by the petitioner was filed on 11/3/2024. Thereafter, this Court had noted that the present petitioner had not arrayed all the complainants/victims as party. Thus, this court vide order dtd. 20/3/2024 had directed the petitioner to implead all the remaining complainants/victims as party in this case. All the complaints were impleaded as party and the case was argued to be quashed on the basis of Memorandum of Understanding ('MoU').