TRILOK GRAND Vs. UNION OF INDIA

JUDGEMENT

(1.) THIS revision has been filed by Trilok Chand challenging his conviction under Section 20 (e) of the Forward Contracts (Regulation) Act, 1952. The charge which was framed against him was as under :-

(2.) THE case of the prosecution was that on information being received by the Forward Market Commission, Bombay a raid was organised by one of its officers and a number of persons including the applicant was arrested from a house situated in Mohalla Neel-ki-Gali. The arrested persons were also searched and various articles were recovered from their possession including a note-book (Ex. 1). This note book contained entries of various transactions. The same was thereafter examined by one Sri S. S. Kulkarni, Senior Research Assistant, Forward Market Commission, Bombay. After scrutinizing the papers of Ex. 1 he submitted a report to the effect that Ex. 1 indicated that the same contained entries relating to non-transferable specific delivery contract in silver/silver coins and option in all commodities. As the forward contract in silver/silver coins and option in all commodities had been prohibited by a notification issued under the Forward Contracts (Regulation) Act, 1952, therefore, the applicant was prosecuted for the offence under Section 20 (e) of the said Act.

(3.) THE applicant pleaded not guilty. He, however, did not lead any evidence.