C KISHANLAL Vs. VIJAYRAJ SURANA

JUDGEMENT

(1.) THIS petition has been filed by the petitioner to call for the records in c. C. No. 2742 of 2007 on the file of the XIV Metropolitan Magistrate Court, egmore, Chennai-8 and quash the same.

(2.) THE respondent/complainant has filed C. C. No. 2742 of 2007 against the petitioner/accused for an alleged offence under Section 500 IPC. The ingredients of the complaint is as follows:-The complainant/one Mr. Vijayraj Surana is Managing Director for M/s. Surana corporation Ltd. , which is a public Limited Company, lending finance to vehicles on hire purchase basis. Subsequently, the Company's name has been changed as m/s. Surana Finance Corporation Ltd. The company stopped hire purchase/leasing business and switched over to carry on jewellery business of gold bullion, silver and precious stones, and changed the name of the company as M/s. Surana corporation Ltd. The same was registered under the Companies Registration Act. After that, M/s. Rukma Industries Ltd and Surana Jewellery Ltd, expressed their desire for a merger with Ms/. Surana Corporation Ltd. Accordingly, they applied before the Honourable High Court, Madras for the scheme of amalgamation. The honourable High Court has also ordered the scheme of amalgamation by order dated 07. 07. 2004. Thus, the company is carrying on business of gold bullion, silver jewellery ornaments, gems, stones etc. The complainant's company has a very successful business.

(3.) THE complainant submits that the authorised share capital of M/s. Surana corporation Ltd, is RS. 21 crores divided into 2,10,00,000 equity shares of rs. 10/- each. The company had gained the trust and confidence of the public from its inception and is doing a fairly good job. There is proposal to declare dividend in the current year as the company's merger took place in the end of the year 2004. The accused, Mr. C. Kishanlal had known one Mr. Dharmendra Bafna of madras, who has been engaged in trading activities in gold bullion, silver with the complainant's company, M/s. Surana Corporation Ltd. The accused knowing about the said business activities of Mr. Dharmendra Bafna has expressed his intention to do trading activity in gold bullion and silver. In the course of trading activities in gold bullion and silver, the accused suffered a loss and he owes money to the above said Dharmendra Bafna. It is further alleged that to overcome the loss and the demand of amount due to Dharmendra Bafna, the accused gave a false complaint to the Commissioner of Police, Chennai, against dharmendra Bafna and 8 others including the Directors of the complainant ie. , m/s. Surana Corporation Ltd. The complainant has alleged that the accused had no dealings or any connection whatsoever with the complainant nor has any interest in the company. The complainant submits that the accused had sent a communication, containing false and libellous allegations against M/s. Surana corporation Ltd, to Multi Commodity Exchange of India Limited in which the company is a member. Therein the accused had alleged cheating with false promises and so a police complaint against all the Directors of M/s. Surana corporation Ltd was lodged in Chennai. Thus the accused gave a complaint containing totally false allegations, which are per se defamatory. Pursuant to the complaint of the accused, the Multi Commodity Exchange of India Limited had called for explanation in its letter dated 21. 04. 2006 from M/s. Surana corporation Ltd. Similarly the accused had also forwarded a complaint to the registrar of Companies, Tamil Nadu, Chennai, alleging that the company and its directors have induced him to invest in the company and he invested a sum of rs. 4,65,00,000/- and agreed to register a charge for that amount in favour of them. The Registrar of Companies, Tamil Nadu had also called for explanation from M/s. Surara Corporation Ltd, by its letter dated 25. 05. 2006.