UMANAND SHARMA Vs. STATE OF PUNJAB AND ANOTHER

JUDGEMENT

(1.) This order shall dispose of two petitions i.e. Criminal Misc.No.M-32073 of 2015 (Umanand Sharma son of Dev Shankar Sharma v. State of Punjab and another) and No.M- 32302 of 2015 (Mukesh Kumar son of Shri Chander Subhash v. State of Punjab and another). These two connected peti State of Punjab and another) tions have been filed under Section 438 of the Code of Criminal Procedure seeking concession of pre-arrest bail to the petitioners herein in case FIR No.93 dated 27.6.2015, under Sections 420, 406, 120-B of the Indian Penal Code, registered at Police Station Sarhali, Tarn Taran.

(2.) Briefly, it may be noticed that FIR came to be registered on the complaint of Jasbir Singh son of Makhan Singh. Allegations in a nut-shell are of having been duped of a total sum of Rs. 2 crores approximately on the pretext of being given a gold franchise on behalf of Company, namely, Sai Gold. Complainant has stated that he was a partner in K.P.G. & J. Brothers Enterprise and Mukesh Kumar Mehta (i.e. petitioner in CRM No.M-32302 of 2015) had, initially, established contact by sending one Sukhdev Singh and Satnam Singh and thereafter complainant was invited to Amritsar where Sai Gold Company had a showroom. Mukesh Kumar Mehta had informed the complainant that Sai Gold Company would be interested in granting the gold franchise, but since village of the complainant i.e. Dhotian was a rural area, such franchise can be given for Jalandhar City as there is a large presence of NRIs in that area and there would be good potential for business. Even a written agreement dated 25.10.2012 was entered into, wherein Mukesh Kumar Mehta had acknowledged that a sum of Rs. 30 lacs had been received and the remaining amount of Rs. 1.70 crores be transferred in the SBI account of the Company. Allegations pertain to mis-appropriation of money as no transfer of any stock/gold was made. After a period of one year, Mukesh Kumar Mehta is stated to have issued post-dated cheques of an amount of Rs. 70,000/-, Rs. 12 lacs and Rs. 16 lacs, but the same, upon presentation, were dishonoured.

(3.) Further allegations are that even the directorship of the Company was handed over in the name of some other person to evade liability.