STATE OF MAHARASHTRA Vs. GIRDHARLAL BAJAJ

JUDGEMENT

(1.) THIS is an appeal by the State and is directed against the judgment of the Additional Chief Presidency Magistrate, III Court, Esplanade, Bombay, acquitting the first two respondents, Firdharlal Bajaj and Tulsiprasad Khaitan of offences under Section 420 of the India Companies Act 1956. The original complainant, Nariman Fakirji Bharucha, is the third respondent in this appeal.

(2.) THE complainant, was employed sometime in 1941 as a Manager in New Pralhad Mills. The company commenced a provident Fund Scheme and appointed Trustees of the Provident Fund on the 1st April 1949. Thereafter, the New Pralhad Mills was sold to a company known as the Amrit Banaspati and Co. Ltd. , on 1st July 1951, and the latter Company were appointed their managing agents in 1952. The respondents Nos. 1 and 2, who were the accused before the trial Court are the General Manager and the Chairman of the Amrit Banaspati and Co. Ltd. It is also not in dispute that consequent upon the taking over of the New Pralhad Mills by the Amrit Banaspati and Co. Ltd. , the accused, who were the principal officers of the company, became trustees of the Provident Fund of the New Pralhad Mills, which was transferred to the Amrit Banaspati and Co. Ltd.

(3.) THE services of the complainant were for a time continued by the Amrit Banaspati and Co. Ltd. On 29h May 1957, however the complainant was informed that he was dismissed from service of the New Pralhad Mills as from 31st May 1957.