SHRIKANT MOHTA Vs. REPUBLIC OF INDIA

JUDGEMENT

(1.) The petitioner by invoking inherent jurisdiction under Sec. 482 of the Criminal Procedure Code, 1973 (hereinafter referred to as 'Cr.P.C.') has knocked the doors of this Court for quashment of the chargesheet dtd. 22/5/2019 in so far as the same relates to him filed before the learned Special C.J.M., CBI, Bhubaneswar and the proceedings emanating therefrom corresponding to FIR No. RC/39/S/2014-Kol on the grounds inter alia that the same is not tenable in law.

(2.) At the behest of the CBI, the petitioner stands prosecuted under Ss. 409, 408, 420 and 120-B IPC besides Ss. 4, 5 and 6 of the Prize Chits and Money Circulation Scheme (Banning) Act, 1978 on the premise that he as the Founder Director of Shree Venkatesh Films Private Limited (in short 'SVFL') entered into an agreement with Brand Value Communications Limited (shortly as 'BVCL'), a sister concern of Rose Valley Group of Companies (RVGC) assigned with the exclusive broadcasting rights for a period of three years and for having received the consideration amount which forms a part of the crime proceed collected by the RVGC from its chit fund business despite having knowledge about the ill-gotten money collected through illegal means. However, according to the petitioner, the above allegation is absurd and even if taken at its face value and accepted in entirety does not prima facie constitute any of the offences alleged. From the FIR, as it is further claimed by the petitioner, there has been a business transaction without having any criminal intent jointly shared, the fact which is clearly discernable from the litigations including an arbitral proceeding between them. It has been pleaded by the petitioner that the parties to the contract engaged themselves in commercial business but he has been criminally prosecuted by the CBI alleging fraudulent intent and conspiracy in utilizing the money collected from the depositors by RVGC which is completely preposterous. It has been claimed that the agreement in question was lawful and so was the consideration involved, inasmuch as, all rights and liabilities in terms thereof stand judicially evaluated and if any consideration received from RVGC, in that case, for each and every business dealing with the said company by all other partners during the relevant period shall have to be held as criminally liable, a proposition which is simply atrocious. It is strongly urged that the petitioner's company was not directly involved in the collection of public money through chit fund business but entered into a transaction with BVCL, one of the associated companies of are RVGC and in that connection, received a contract for an amount of Rs.25.00 Crore and furthermore, in view of the dispute arose between them, the parties were engaged in litigations and therefore, to implicate the petitioner with the allegation of cheating, misappropriation and criminal breach of trust is nothing but a brazen display of misuse of power by the CBI and furthermore when the essential ingredients of the offences are not satisfied especially when it is not a case of hatching any criminal conspiracy related to chit fund money and its circulation which is directed entirely against the RVGC. According to the petitioner, for the alleged contract, which was only for a period three years, to allege conspiracy against him is totally absurd and in so far as he is concerned, there was no nexus and even otherwise any such allegation and criminal proximity is disabled and stands fully negated in view of the inter se litigations between the parties. So, therefore, the petitioner pleads that he has not committed any criminal offence and as to the contract, it could have been avoided but unfortunately, without any involvement was entangled by the CBI and hence, the chargesheet which is submitted as against him should be quashed in order to advance the cause of justice by exercising the extra-ordinary jurisdiction of this Court.

(3.) Heard Mr. Kanungo, learned Senior Advocate appearing for the petitioner assisted by Mr.S.R. Mohanty, Advocate and Mr. Nayak, learned counsel for the CBI.