J.N. JAHATH RAMJEE Vs. STATE

JUDGEMENT

(1.) The Petition is to quash the FIR in Cr. No.43 of 2019 on the file of the First Respondent herein for the alleged offences under Ss. 420, 120-B & 506(i) of I.P.C.

(2.) It is alleged in the Complaint that the Second Respondent/De facto Complainant herein was known to the Petitioners since 2005; that in the year 2007, the Petitioners approached the De facto Complainant herein and his relatives to invest funds for the construction of a Shopping Mall by the Petitioners; that believing the Petitioners' Representation they had invested Rs.9,00,00,000.00 (Rupees Nine Crores only) between 2008 & 2010; that the Petitioners on receipt of the above said amount had entered into a Sale Agreement agreeing to sell land measuring 8.292 Acres in Devadhanam at Trichy and 7.73 Acres in Panayakurichi at Trichy; that they had also executed Power of Attorney in favour of the De facto Complainant and others; that they had deposited all the original Title Deeds relating to these properties to the De facto Complainant as security for the investment made by the De facto Complainant; that the Petitioners did not keep up their promise to construct the Shopping Mall till 2013; that in the meanwhile the property value increased manifold and the Petitioners approached the De facto Complainant once again and stated that they would repay the money along with interest and a further sum towards return on investment; that they executed two Agreements, dtd. 27/6/2013 & 21/5/2014 wherein, they agreed to return the invested amount of Rs.9.00 Crores along with a Compensation of Rs.9.75 crores totalling Rs.18.75 crores; that they had paid Rs.75.00Lakhs and were due to pay the balance Rs.18.00 Crores; that thereafter, promising to redeem the property mortgaged with Indian Overseas Bank they requested the De facto Complainant to pay a further sum of Rs.60.00 lakhs to the Petitioners and the De facto Complainant also paid Rs.60.00 Lakhs; that out of Rs.18.6 Crores the Petitioners paid Rs.1.62 Crores on 15/4/2015; that thereafter, the Petitioners had issued a Cheque for Rs.18.69 Crores in favour of the De facto Complainant acknowledging the fact that they were due to pay money to the De facto Complainant; and that thereafter, the De facto Complainant came to know that the Petitioners had sold the property in Devadhanam, Trichy to a Company called LSR Properties India Private Limited though Original Title Deeds relating to the said properties were with the De facto Complainant; that they had violated the Government Circular, which prohibited them from making any sales without presenting the original documents for perusal by Registering Authority; that when questioned by the De facto Complainant, the Petitioners had abused him in filthy language; that the De facto Complainant had also filed a Civil Suit before this Court in C.S.(Comm.Div.) No.418 of 2018 for recovery of money and also a Complaint under Sec. 138 of Negotiable Instruments Act, 1881 for the dishonoured Cheque against the Petitioners. The De facto Complainant therefore prayed for action against the Petitioners. The Complaint was registered for the offences under Ss. 420, 120-B & 506 (i) of I.P.C.

(3.) Mr. B. Kumar, the learned Senior Counsel for the Petitioners would submit that: