GURSHARAN DASS AGGARWAL Vs. STATE OF PUNJAB

JUDGEMENT

(1.) THIS is the second bail application preferred by the Petitioner. The first bail application was dismissed on merit vide order dated 26.5.2011. The case of the prosecution in brief is that the complainant is the promoter, director of M/s Sutlej Fun Resorts Limited, Ludhiana, having 30% share in the said company. That company was incorporated in the year 1987. The accused compelled the complainant to sign on the agreement. As per the agreement, the complainant was compelled to transfer his 20% share in favour of Mr. G.D. Aggarwal i.e. accused and 10% share in favour of Mr. Mukesh Khullar with the condition that the entire amount of 30% held by the complainant shall be paid to him on or before 31.7.1996 and 30.10.1996. It is further pleaded that agreement was duly signed by all the existing directors of the company. Further allegation of the complainant is that no amount has been paid in compliance to the said agreement and his signatures have been forged on Share Transfer Form.

(2.) VIDE order dated 25.5.2011, in Crl.Misc. No. M -6598 of 2011, the application was dismissed with the observation that the applicant -petitioner has failed to prove the payment of amount of shares.

(3.) AT this juncture, learned State counsel and learned Counsel for the complainant is fair enough to concede that the amount agreed as per the agreement (Annexure P -4) is not on the record.