P.VENKATESAN Vs. DEPUTY SUPERRINTENDENT OF POLICE

JUDGEMENT

(1.) The petitioners have filed this Criminal Revision Case as against the order dated 2.8.2006 passed by the learned Chief Metropolitan Magistrate, Egmore, Chennai by which the petition filed by them for discharge was dismissed. The petitioners were arrayed as A-3 and A-4 in C.C. No. 29325 of 2004 on the file of the learned Chief Metropolitan Magistrate, Egmore for the offence of buying the property from the main accused in C.C. No. 8 of 2000 thereby they have committed the offence punishable under the Tamil Nadu Protection of Interests of Depositors (in Financial Establishment) Act, 1997.

(2.) The case of the prosecution is that one Mukundran, his wife Indira Mukundan and her brother Asokan have established a financial company by name Maruthi Finance at No. 58, Maddox Street, Chennai during the year 1994 to 1999. During the course of such business, they have invited applications from general public seeking investment of their money in the form of fixed deposit with their firm promising to return their money with attractive rates of interest. In response to the same, number of persons have deposited their money and with the help of the deposit amount, the above said three persons have purchased several properties. While so, when the depositors demanded repayment of the deposit amount on maturity, they have given evasive reply. Therefore, one of the depositors namely Maniprakash Guptha lodged a complaint with the respondent based on which a case in Crime No. 8 of 2000 came to be registered against the aforesaid persons namely Maruthi Finance, Mukundan and Indira Mukundan for the offences punishable under Section 409, 420 of IPC read with Section 5 of TNPID Act, 1997. In the case in Crime No. 8 of 2000, the firm namely Maruthi Finance was arrayed as A-1, Mr. Mukundan was arrayed as A-2 and Mrs. Indira Mukundan was arrayed as A-3. During the course of investigation, the respondent enquired the depositors who have deposited the amount with the accused and seized the material records. The Government also issued G.O. Ms. No. 637, Home (Courts-11A) Department dated 5.7.2001 by which the properties purchased by the above said firm namely Maruthi Finance at the instance of the accused namely Mr. Mukundan and Mrs. Indira Mukundan, came to be attached in exercise of the powers conferred under Section 3 of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishment) Act, 1997 (Tamil Nadu Act 44 of 1997).

(3.) The respondent, after completing the investigation, filed charge sheet in Crime No. 8 of 2000 which was taken on file in C.C. No. 32 of 2001. During the course of trial in the said case, the prosecution has examined Pws 1 to 81 and marked Exhibits P1 to P197. On behalf of the accused, no witnesses were examined, however Exhibits D1 to D60 were marked. On appreciation of the oral and documentary evidence, the learned Special Judge under TNPID Act, Chennai, by a judgment dated 9.3.2006, convicted the first and second accused and imposed sentence together with fine, while acquitting the third accused.