S C CHADDHA Vs. STATE OF DELHI

JUDGEMENT

(1.) The present revision petition is preferred against an order dated 27.9.2005 of the learned Metropolitan Magistrate (M.M). The Petitioners were charged under section 420/ 120B of Indian Penal Code (IPC).

(2.) The brief facts necessary to decide this petition are that a complaint was filed against the accused persons on the allegation that the complainant, V.K. Anand was a Civil Engineer by profession, working as a builder and contractor. He was allegedly approached by Accused No.1 alleging himself to be chairman and Managing Director of various companies for the construction of two factories in Rajasthan. During the course of their dealing the complainant agreed to participate in the products to be brought up by Petitioner no.1. The complainant thereafter agreed to become Executive director of the companies Tefcil Marbles Ltd., and Tefcil Breweries Limited with the power to operate accounts and do other things. The complainant was appointed Executive Director on the payment of Rs.2, 00,000/- to Transnational Export and Financial Corporation India Ltd.

(3.) The Petitioner no.2 allegedly applied to the Registrar of the Companies for incorporation of the said two companies. The name of the complainant and his wife figured as subscribers in the Memorandum and Articles of Association. Thereafter the complainant was asked for a sum of Rs.50,000/- on the pretext of meeting the day to day expenses of the company. The complainant was also asked to enrol other members for the companies. It is alleged by the complainant that he made efforts and enrolled members, thus collecting an amount of Rs.3,95,000/- in Tefcil Marbles and further amount of Rs.1.3 lakhs, in Tefcil Breweries Limited. A sum of Rs.5,25,000/- was given to the Accused No.1 through cash, cheque and draft. These also included amounts paid earlier to him.