PRAMOD KUMAR GADIA Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) This revisional application under section 482 of the Code of Criminal Procedure (in short the Code) is directed against order dated 6.8.04 passed by the learned Chief Metropolitan Magistrate (in short CMM),Calcutta in complaint case No. C-8525 of 04 directing Officer-in-Charge, Bowbazar P.S. for investigation under section 156(3) of the Code treating the petition of complaint as First Information Report (in short FIR) and aimed at quashing the said criminal proceeding being Bowbazar P.S. Case No. 334/04 dated 17.9.04 under sections 420/ 120B of the Indian Penal Code (in short IPC).

(2.) Before entering into the merit of the revisional application, I think it expedient for the ends of justice to mention the factual aspects as disclosed in the complaint petition which was directed by the learned CMM by his order dated 6.8.04 to be investigated by Bowbazar P.S. under section 156(3) of the Code treating the same as FIR. The story as depicted in the FIR is that the complainant, who is O. P. No. 2 here, is a businessman by occupation and the accused, who is the petitioner here, represented to the O.P. as Director of one M/s. Charring Cross Nursing Home Pvt. Ltd. having office at 4, Clive Row, Kolkata. On or about 15.6.2000 the accused petitioner on such representation along with few others visited the office of the O.P. complainant and represented that the said company namely, M/s. Charring Cross Nursing Home Pvt. Ltd. is a company with huge prospects of making profits in near future but due to financial stringency it is unable to reach its optimal potential. The petitioner by his convincing representation made the O.P. complainant to understand that, if sum of Rs.50 lakhs is infused into the company, the performance and profit making ability of the said company would multiply manifold and the complainant would become a major shareholder and would derive huge profit. The accused persuaded the complainant to part away with said sum for purchase of equity shares of Rs. 10/- each for the said company and assured that once the sum is paid by the complainant the accused petitioner would allot and deliver him shares of the company. Believing such representation of the accused petitioner, and being assured of lucrative profit and timely returns, the complainant parted away with a sum of Rs.16,25,000/- to the accused petitioner in the name of the said company as per following details: <FRM>JUDGEMENT_613_CALHN2_2006Html1.htm</FRM>

(3.) Being so dishonestly induced by the representation of the accused, the complainant filled in form of application for equity shares and applied for obtaining 1,52,500 equity shares of Rs. 10/-each. After receipt of the said cheques the accused petitioner encashed the amount of the said cheques and, appropriated the entire amount for his own wrongful gains. After encashment of the cheques the accused did not issue share certificates in favour of the O.P. complainant nor repaid the said sum of Rs. 16,25,000/-. The accused petitioner in full control of the affairs of the said company has dishonestly siphoned off the said sum from the bank accounts of the said company and is trying to infuse the said amount into other various accounts and is planning to close business of the company and to sale assets of the company. Accordingly, the O.P. complainant filed the complaint before the learned CMM and the learned CMM by his order dated 6.8.04 directed the O.C., Bowbazar P.S. to cause investigation treating the complaint as FIR and thereafter the aforesaid Bowbazar P.S. Case No. 334 dated 17.9.04 under sections 420/120B of IPC was started against the accused petitioner. The accused pet tioner has approached this Court now for quashing the criminal proceeding as well as the investigation.