PRASHANT SINGH Vs. STATE OF U.P.

JUDGEMENT

(1.) Heard Dr. L. P. Mishra, and Sri Prafulla Tiwari Advocates, the learned counsel for the applicant, Smt. Parul Kant, the learned A.G.A. for the State and Sri Vikas Tiwari and Sri Aditya Vikram Singh Advocates, the learned counsel for the opposite party No.2.

(2.) By means of the instant application filed under Sec. 482 Cr.P.C., the applicant has sought quashing of the charge-sheet dtd. 4/2/2023 for commission of offences under Sec. 409 and 420 I.P.C., filed in furtherance of F.I.R. No. 572 dtd. 26/10/2021 under Ss. 406, 420 IPC, Police Station Vibhuti Khand, District Lucknow and the order dtd. 13/2/2023 passed by the Additional Chief Judicial Magistrate-II, Lucknow in Criminal Case No.18415 of 2023, whereby the Court has taken cognizance of the offences and summoned the applicant to face the trial.

(3.) Opposite party No.2 had lodged the FIR alleging that he is a major shareholder of M/S Piscesia Power Transmission Private Limited (hereinafter referred to as 'PPTPL') and he holds 24% shares of the aforesaid company. A firm - M/s Bigha Infraventures Private Ltd., controlled by the informant holds 26% shares of PPTPL. Thus, the informant has 50% shares in PPTPL. PPTPL holds 98% shareholdings in a company called J. B. Test and Commissioning Private Limited (hereinafter referred to as 'JBTCPL'), which is a subsidiary company of PPTPL. The applicant - Prashant Singh misused his position as a Director of JBTCPL and fraudulently transferred 98% of its shares in his favour without giving any information of the share transfer to the Board of Directors of PPTPL and without execution of any transfer deed against the provisions of the Companies Act, 2013.The applicant forged signatures of the share holders of PPTPL, committed forgery, criminal breach of trust and he committed theft of the shares.