VED PRAKASH MALHOTRA Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) This is an application filed under section 482 of the Criminal Procedure Code. The applicants seek quashing of order rendered by learned Judicial Magistrate (F.C.), Aurangabad, taking cognizance of offences in a complaint case filed by the respondent No. 2, bearing R.C.C. No. 535/2008. The learned Magistrate, by the impugned order, issued process against present applicants for offences punishable under section 405, 406, 417, 420 read with section 34 of I.P. Code.

(2.) At this stage, it is not necessary to elaborately set out the averments made in the complaint. Suffice it to say that the complainant claims to be Chairman of Centron Employees Cooperative Credit Society. The employees of Centron Company are members of the Credit Society. The Centron Company gave an undertaking to deduct amounts of instalments of loans granted to the members by the Credit Society from their monthly Pay Bills and to forward such amounts to the Credit Society. The Cooperative Credit Society is duly registered under the provisions of the Maharashtra Cooperative Societies Act. The members of the Credit Society were eligible to seek loans on giving of undertaking that the instalments could be recovered directly from the employer i.e. Centron Company. The Company allegedly deducted such amounts of loan instalments from the monthly Pay Bills of the employees. The deducted amounts were not, however, credited to the account of the Cooperative Credit Society run. The complainant, therefore, alleges that the amounts were misappropriated because they were recovered for payment to be made to the Credit Society, but were not, in fact, so deposited with the Credit Society. The complainant alleges that the Cooperative Credit Society was thus duped by the Centron Company.

(3.) According to the applicants, the Centron Company was facing financial crisis and was unable to pay the wages to the employees. It was under the control of B.I.F.R. It is contended that there was no malafide intention, least mens rea.