E.K.RAJU Vs. INSPECTOR GENERAL OF REGISTRATION

JUDGEMENT

(1.) The following are the reliefs sought for by the petitioner in this writ petition:

(2.) Brief material facts for the disposal of the writ petition are as follows:

(3.) Petitioners were the Secretary and Joint Secretary of the Thalayazham Panchayat Merchants Welfare Society formed in the year 1993. In the year 2004, the Society got themselves registered as Thalayazham Panchayat Merchant Welfare Trust Limited and having registration No.1/2004. The Trust in the guise of the registration as trust, later started to conduct chit without obtaining licence or registration. They were also lending money at exorbitant interest rate, and even collected investments in the form of Fixed Deposit, Recurring Deposit and Savings Deposit, without getting themselves registered as a bank and without following the rules governing such transactions as mandated by the Reserve Bank of India. It is also pointed out that, transactions running to lakhs under the guise of chit were being conducted by the Trust. Further, as security towards the chit transaction, they even used to collect blank cheques from their subscribers. Though Ext.P1 crime was registered against them, alleging illegal conduct of the chit and tax evasion, the same were left unattended. Thereupon, petitioners submitted Ext.P3 complaint before the 1st respondent, Ext.P4 complaint before the 2nd respondent and Ext.P5 complaint before the 3rd respondent. However, no action was taken, which constrained the petitioner to approach this Court seeking the reliefs specified above. However, later the Income Tax Department is impleaded as the additional 6th respondent.