KANWAR DEEP SINGH Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) Kanwar Deep Singh, Managing Director of a Company named and styled as M/s. Tubrao Infotech and Industries Ltd., a Public Limited Company under the Companies Act, 1956, filed separate applications under Section 482 of the Code of Criminal Procedure, 1973 praying for quashing of the F.I.R as well as investigational proceedings in all these six cases, five of which were started on the basis of private complaints and one was started by the Police suo motu, mainly on the ground that no case was made out in the F.I.R. and the allegation of cheating, breach of trust, etc. are without any basis and that there is no reason to investigate the case inasmuch as a separate complaint has been filed by the Security Exchange Board of India (hereinafter referred to as SEBI for brevity) under Section 56(3), 63 and 68 of the Companies Act, 1956 and it is still pending before the Court of the learned Chief Judicial Magistrate, Calcutta. In all these cases, the opposite party/State appeared and made their respective submissions alleging that a prima facie case under Sections 420/406/468/471/421/120B of the Indian Penal Code having been established, the extraordinary power under Section 482 of the Code should not be exercised at this initial stage of investigation.

(2.) Before entering into the details of the arguments, I deem it proper to point out how these cases were registered.

(3.) First case was started on the basis of a complaint lodged by one Gobindalal Bhattachrya of 180/1, Pasupati Bhattacharjee Road, P. S. Behala, Calcutta-700 041 with the Inspector-in-Charge of Behala P. S. alleging that his relative Soumen Bhattacharya along with Johnny Sadhukhan and Pradip Pal being the authorised agents of the Company of the present petitioner came to the residence of the complainant in the month of August, 2000 and showed prospectus of the Company and allured him to invest a sum of Rs. 5,000/- which was collected on the basis of A/c. Payee Cheque after issuing Kutcha receipt. Again on 9th March, 2001, those persons came to the complainant and allured him to invest a further sum of Rs. 1,00,000/-. All those amounts were invested for a period of four years. The certificate relating to the secured redeemable debentures along with post dated cheques was handed over to the complainant. On scrutiny of the documents issued by the said Company, it was detected that the following false and misleading statements were made: