M.BALACHANDRAN Vs. STATE OF BIHAR

JUDGEMENT

(1.) The petitioner has approached this Court under Section 482 of the Code of Criminal Procedure to quash the order dated 12.8.2005 passed in Complaint Case No.1308 (C) of 2005 by the court of Sub Divisional Judicial Magistrate, Patna, summoning the accused, named in the complaint petition, including the petitioner, on enquiry under Section 202 of the Code of Criminal Procedure, finding prima facie case under Sections 406, 420 and 120-B of the Indian Penal Code and also the subsequent order dated 16.12.2005 to issue non-bailable warrants securing the attendance of the accused, named in the complaint petition, including the petitioner. A prayer has also been made to quash the entire criminal proceedings arising out of the aforesaid complaint case.

(2.) In brief, the case is that the opposite party no.2, Shri Jitendra Narayan Agarwal, filed the Complaint Case No.1308(C) of 2005 in the court of the Chief Judicial Magistrate, Patna, against the opposite party nos.3 to 13 and the Bank of India of which the petitioner is Chairman, alleging therein that accused -opposite party no.3, Asian Alloys Limited published an application forms for attracting the public under private placement of fully secured Redeemable non-convertible Debentures secured by the Bank of India. On the persuasion of the workman of the accused -opposite party no.3, the opposite party no.2 invested Rs.1,12,000/- on 28.6.1997 in his name and in the name of his wife, Smt. Kusum Kumari Agarwal. Out of the aforesaid amount, Rs.50,000/- was under the scheme of Regular Income and rest was under the Scheme of Deep Discount Bond for 17 months 29 days. On maturity, the opposite party no.2 sent fully discharged receipt to the Company, accused - opposite party no.3 through registered post for payment of maturity value but the Company, accused -opposite party no.3 did not bother to pay the same. The opposite party no.2 also sent several reminders as well as legal notice to the Company, accused-opposite party no.3 for payment of maturity amount of the debentures but the same was not paid. As such, the accused persons cheated the opposite party no.2 after long persuasion to deposit Rs.1,12,000/-.

(3.) After filing of the aforesaid complaint case by the opposite party no.2, on enquiry under Section 202 of the Code of Criminal Procedure, the court of the Sub Divisional Judicial Magistrate, Patna, summoned the opposite party nos.3 to 13 and the Bank of India of which the petitioner is Chairman, finding prima facie case under Sections 406, 420 and 120-B of the Indian Penal Code vide order dated 12.8.2005 and, thereafter, issued non-bailable warrants against them securing their attendance vide order dated 16.12.2005. Both the orders are impugned in the present application.