AJOY KUMAR SINGHANIA Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) THIS revision arose out of order dated 21.09.2005 passed by the learned Additional Chief Judicial Magistrate, Bidhannagar, North 24 -Parganas in G.R. Case No. 3731 of 2003 renumbered as G.R. Case No. 47 of 2004 under Section 420/477A/406/120B of the Indian Penal Code arising out of South Bidhannagar Police Station Case No. 163 of 2003 dated 12.12.2003 thereby rejecting Naraji (Protest) petition filed by the present petitioner and accepting the final report submitted by the Investigating Agency.

(2.) IN the background of this appeal, the fact in a nutshell is as follows: -

(3.) THE accused nos. 1 and 2 are the Managing Director and Director of the company - Quality Allen Pharma Pvt. Ltd. The accused nos. 3 and 4 are the Cashier and the Accountant, respectively of the Group Companies headed by the accused no. 1. The accused no. 1 along with his daughter being the accused no. 2 came down to the petitioner's city office at 51, Nalini Seth Road, Kolkata 700007 and by way of producing various certificates tried to repose trust, faith and confidence within the petitioner. The representations made by the accused and his daughter in fact induced the petitioner to believe that in case he and his family members joined the pharmaceuticals industry with the aid and experience of accused nos. 1 and 2, it could be possible for them to build up a profitable business. Accordingly, the petitioner's father with accused no. 1 entered into a Memorandum of Understanding for jointly participating and purchasing the assets of M/s Quality Pharmaceuticals Ltd. (in liquidation) with a view to run the said unit as a viable pharmaceutical unit. The Memorandum of Understanding was entered on 28th June, 2001 on the following terms: -