LAWS(KER)-2024-9-207

HEDGE EQUITIES LTD. Vs. STATE OF KERALA

Decided On September 13, 2024
Hedge Equities Ltd. Appellant
V/S
STATE OF KERALA Respondents

JUDGEMENT

(1.) The petitioners who are accused in C.C.No.3094 of 2013 on the file of the Judicial First Class Magistrate Court-I, Chengannur seek to quash all further proceedings in the calendar case. The petitioners and the other accused are alleged to have committed offences punishable under Ss. 406, 420 and 120-B r/w Sec. 34 of the Indian Penal Code.

(2.) The prosecution case was initiated based on Ext.P6 complaint filed by respondent No.2. Petitioners 1 and 2 are accused Nos.1 and 2, respectively. Accused No.3 is the Branch Manager of petitioner No.1 firm.

(3.) Accused No.1 is a stock broking firm registered with the National Stock Exchange and Bombay Stock Exchange under the Securities and Exchange Board of India Act, 1992 (for short 'SEBI Act'). Accused No.2 is the Managing Director of the firm.