VENKATRAMANAN Vs. STATE

JUDGEMENT

(1.) The petitioners/A1 & A2 in C.C.No.4138 of 2020 facing trial for offence under Ss. 406, 408, 420 & 506(i) r/w 120B IPC before the learned Metropolitan Magistrate exclusive Trial for CCB and CBCID Cases, Egmore, have filed this Quash Petition.

(2.) Case of the prosecution is that the 2nd respondent authorised by Mr.Dilip Vellodi, Director of M/s.K.R.V Properties Private Limited, lodged a compliant stating that M/s.K.R.V Properties Private Limited company registered under Registrar of Companies in the year 2006 which is involved in construction activities for residential and commercial buildings, promoting layouts and in the real estate business. Mr.Muthu Narayanan is the one of the Director of the Company and Mr.Gopi @ Gopinath Sadasivam, a close relative of said Mr.Muthu Narayanan associated with the Company for looking after the financial aspects of the Company. The Company was in need of 20 acres of land parcel in Perumbakkam Village near Pallikaranai and the Company authorised Mr.Muthu Narayanan and Mr.Gopi @ Gopinath Sadasivam to find out lands and to make payments. Mr.Muthu Narayanan to identify land parcels brought in Mr.S.Venkataramanan and Mr.Kamalesh Kumar Seth (petitioners), land brokers to identify and procure land parcels in the said locality. Thereafter, land to an extent of 19.575 acres extending in various survey numbers at Perumbakkam Village procured during the period 2006 to 2010. Out of 19.575 acres, 2.15 acres of land in survey Nos.265/3, 266/4, 297 & 298 purchased by the Company vide sale deed in document Nos.10478 of 2007, 8395 of 2007 and 4469 of 2007, totalling to a sum of Rs.3,48,34,200.00 was sold to third person. Keeping Company in dark, Mr.Muthu Narayanan and Mr.Gopi @ Gopinath Sadasivam, entered into a criminal conspiracy with the petitioners and sold 2.15 acres of land to one M/s.Varun Manian Reality & Constructions Private Limited for a sum of Rs.2,57,00,000.00 vide sale deed in document No.8177 of 2011 and 1752 of 2012. Though the Company purchased the said land of 2.15 acres for a sum of Rs.3,48,34,200.00, these properties sold at lesser price showing it as distress sale for Rs.2,57,00,000.00, thereby, caused wrongful loss of Rs.91,34,200.00. Apart from this transaction, the petitioners in connivance with Mr.Muthu Narayanan and Mr.Gopi @ Gopinath Sadasivam received a sum of Rs.1,77,50,000.00 and out of Rs.2,57,00,000.00, a sum of Rs.2,54,40,000.00 was re-routed to the 1st petitioner by three separate cheques bearing Nos.489635 dtd. 21/11/2011 for Rs.1,60,00,000.00, cheque bearing No.489636 dtd. 8/12/2011 for a sum of Rs.14,40,00,000.00 and cheque bearing No.489637 dtd. 12/3/2012 for a sum of Rs.80,000.00 through Axis Bank, G.N.Chetty Road projecting that these amounts would be used for procuring alternate lands in the name of Company. But thereafter they neither purchased any land nor returned the amount, thereby, committed misappropriation and cheating to the tune of Rs.5,23,00,000.00. Hence, on the complaint received on 1/8/2015, FIR in Crime No.304 of 2015 registered for offence under Ss. 406, 408, 420 & 506(i) r/w 120B IPC.

(3.) On conclusion of investigation, it was found that Mr.Muthu Narayanan and Mr.Gopi @ Gopinath Sadasivam informed the Directors of M/s.K.R.V Properties Private Limited about the transactions with the petitioners and there was no criminality in their action, hence, both of them deleted from the case and charge sheet filed against the petitioners alone. It was also found that Mr.Muthu Narayanan and Mr.Dilip Vellodi were Partners in Sutherland Global Services, a Company registered in New York, USA and there was claim and counter claim between them in USA Courts as early as 25/3/2015 and the present compliant lodged five months thereafter on 1/8/2015. Further it was found that the petitioners having received the money for sale of 2.15 acres to M/s.Varun Manian Realty & Constructions Private Limited and undertook to buy alternate site, but failed, hence, investigation proceeded and charge sheet filed against the petitioners arraying them as A1 & A2. In the charge sheet, LW1 to LW11 listed along with documents.