VIKAS AGARWAL Vs. SERIOUS FRAUD INVESTIGATION OFFICE

JUDGEMENT

(1.) Impugned order of 24th Jan., 2019 summons petitioner for commission of offence under Sections 418/120B of Penal Code and under Sec. 447 of the Companies Act, 2013.

(2.) Learned senior counsel for petitioner submits that the only allegation leveled against petitioner, as noticed in the impugned order, is that petitioner who is arrayed as A-27 with his co-accused A-24, A-25 & A-26, were partners in the mining firm which was indulging in illegal mining activities and were part of a larger conspiracy. It is alleged against petitioner and his co-accused that they had provided unsecured loan to the Trust.

(3.) The submission advanced on behalf of petitioner is that any prosecution under the Companies Act, 2013 is to be confined to the Companies only and not to private individuals. Attention of this Court has been drawn to Sec. 447 of the Companies Act, 2013 to point out that the fraud is in relation to the affair of the company and not in respect of any individual. So, it is submitted that the impugned order qua petitioner is liable to set aside, as the trial court has no jurisdiction to summon the petitioner.