M.C.KAMARUDDIN Vs. SUPERINTENDENT OF CRIME BRANCH

JUDGEMENT

(1.) Petitioner is the 2nd accused in Crime No.699 of 2020, registered at the Chandera Police Station, Kasargod for the offence under Section 420 read with 34 of IPC. The petitioner is arrayed as accused in his alleged capacity as Chairman of a Private Limited Company named 'Fashion Gold International Pvt.Ltd' (hereinafter called, "the Company"). The 1st accused in the crime is the Managing Director of the Company. The crime is registered based on Annexure A1 complaint submitted by the 5th respondent, raising the following allegations; The complainant had visited the Company's outlet at Cheruvathoor in 2018 at which time, he was informed about a scheme providing for payment of dividend on deposit of cash or gold with the Company. The complainant enquired about the scheme with the Managing Director and thereafter, executed Annexure A3 agreement and handed over Rs.5 lakhs to the Managing Director in the presence of the petitioner. In accordance with the terms of the agreement, dividend was paid to the complainant till October, 2019. No payment was received thereafter and on enquiry, it was revealed that the Company had closed down. Even though the complainant approached the Managing Director and the petitioner requesting for refund of his money, the deposited amount was not refunded. Later, it came to light that the Company had deceived numerous other depositors. Hence the complaint, followed by registration of the crime.

(2.) The prayer in the Crl.M.C is to quash the FIR and further proceedings in Crime No.699 of 2020, registered at the instance of othe 5th respondent.

(3.) Heard Sri.S.Krishnamoorthy, learned counsel for the petitioner and Sri.C.S.Hrithwik, learned Senior Public Prosecutor representing the Director General of Prosecution.