RAJVIR SINGH Vs. PANKAJ MADAN AND ORS.

JUDGEMENT

(1.) By this petition filed under Sec. 482 of Cr. P.C., the petitioner seeks cancellation of bail granted to respondent No. 1 by the learned Additional Session Judge, Patiala House Courts, New Delhi in a case registered as FIR No. 175/2012 under Sec. 406/409/420/468/471/120 -B of IPC, Police Station EOW, New Delhi.

(2.) In nutshell, the prosecution case is that a complaint was made by Rajvir Singh (hereinafter referred to as the complainant), who deals in the business of constructions work. The respondent No. 1 was representing himself as MD of M/s. Gen Next Trexim Pvt. Ltd., which intimated the complainant of having imported 500 MT Copper Cathode plates and induced the complainant to purchase the same for which the complainant made the payment of Rs. 90 lacs by cheque, however, the goods were never delivered nor the said money was returned to the complainant. Respondent No. 1 thereafter represented himself to be the Director of one other company namely M/s. Gen Next Promoters Pvt. Ltd. dealing in the business of housing, mentioning that he is launching a project at Shimla, agreements have already been executed with the farmers and the FDI was also expected. The accused also introduced one Shailesh Hira Nandani as the representative of a foreign investor in Bangkok and also arranged a meeting with the complainant to make belief that process of taking loan was at the final stage.

(3.) The complainant was thus made to agree to meet with the routine expenses of the company till the final disbursement of the loan, by the foreign investors. The complainant thus lent a sum of Rs. 2.5 crores as loan in instalments between February 2009 and April 2010 in cash and cheque. Thereafter, the respondent No. 1 executed an agreement with the complainant admitting his liability of Rs. 4.4 crores as loan and issued three cheques from the company account totalling Rs. 4.4 crores and in addition also took a further amount of Rs. 2.5 crores in cash on 26.10.2010 from the respondent No. 1. The complainant was also made the Director of the company w.e.f. 01.09.2010 as well as authorized signatory of the bank account of the company. The above said cheques of Rs. 4.4 crores bounced on presentation. The complainant was thus cheated to the tune of Rs. 5.9 crores by the respondent No. 1 under a well planned conspiracy. The complainant has mentioned the figure of Rs. 6.9 crores in FIR after calculating Rs. 1 crores as interest and other damages.