INDIAN INFOLINE LTD Vs. ARUNAVA PATRA

JUDGEMENT

(1.) Petitioner is the juridical person, a company namely, Indian Infoline Limited, incorporated under the Companies Act, 1956. In this case the petitioner has challenged the proceedings in CR Case No.926 of 2012, now pending in the Court of the Chief Judicial Magistrate, Purba Midnapore (though initially was lodged in the Court of Ld. Judicial Magistrate, 4th court at Midnapore). The said case is under Ss. 163(4)/196(3)/301(5)/372A (6) of the Companies Act and Ss. 467/120B of the Indian Penal Code. In this case the petitioner/company has prayed for quashing of the entire proceeding now pending in the trial Court.

(2.) Mr. Basu being led by Mr. Bhattacharya has challenged the criminal proceeding against his client, i.e, the present petitioner, on the grounds inter alia that the complaint lodged against his client would not reveal any cognizable offence against the said alleged accused, that the contentions and allegations in the complaint would not make out a case at all against the petitioner/company, that the facts of the case would reveal about lodging of a criminal case against the petitioner/company to be due to malice and wrecking vengeance only, for which reason such a proceeding would not be maintainable in the eye of law.

(3.) Mr. Basu has taken this Court to the photocopy of the complaint annexed with the present case to submit firstly that the complaint was specifically directed against the 'subsidiary' of the present petitioner, namely India Infoline Finance Limited. He would further submit that being the 'holding company', the present petitioner has no manner of business and control as to the accused no.1, i.e, India Infoline Finance Limited. According to him, by no stretch of imagination the petitioner would have been arrayed as an accused in the said case or considered to be involved in any way.