J P S ENTERPRISES Vs. STATE

JUDGEMENT

(1.) THE appellants preferred this appeal against the judgment of conviction and sentence passed by the Special Judge for TNPID Act Cases, Chennai in C. C. No. 7 of 2000 dated 3. 11. 2000.

(2.) THE appellants/accused 1 and 2 were charged for the offences under Sections 409 and 420 I. P. C. , Sections 4, 5, 6 of Tamil Nadu Prizes and Chits Money Circulation Scheme (Banning) Act, 1978 and under Section 5 of the Tamil Nadu Protection of Interest of Depositors Act, 1997. According to the prosecution, the second accused as promoter of the first accused firm floated price money circulation scheme under which he had collected money from various persons through agents totalling Rs. 30,50,500/- and cheated the subscribers by not repaying the said amounts as per the assurance given by him at the time of collecting subscriptions. Hence, the accused 1 and 2 were charged for the offences under the said provisions of law.

(3.) WHEN the second accused was questioned initially with reference to the charges, he denied the same and therefore the prosecution examined 25 witnesses and produced 34 documents to prove the charges.