NILESH SINGH SOLANKEE Vs. STATE OF BIHAR

JUDGEMENT

(1.) The petitioner has filed the present writ application for quashing of the First Information Report, bearing Civil Line Police Station Case No. 226 of 2020, Gaya, registered for the offences punishable under Ss. 406, 420 and 34 of the Indian Penal Code and further by way of amendment, the petitioner has prayed for quashing of the order taking cognizance, dtd. 2/3/2023.

(2.) The petitioner no. 1 was engaged in the construction business, who entered into a sub-contract agreement with one developer, namely, Akarshan Infra Developers Pvt Ltd, for construction of stilt plus eight floor multi-storied residential quarters for Bokaro Steel Officer's Housing Co-operative Society Limited. The respondent no. 2/informant entered into an investment agreement with the petitioner no. 1 in order to earn profit, according to which respondent no. 2 had to invest a sum of Rupees two crores in two months, but he invested only Rs. Eighty five lakhs and that too in thirteen months. The investment agreement failed, however, the petitioner no. 1in order to return the amount of Rupees eighty five lakhs to respondent no. 2 along with interest at the rate of 9 per cent per annum, amounting to Rs. 1,09,73,000/-, entered into a settlement agreement with respondent no. 2. The amount was to be refunded within a period of fifteen months from the date of settlement agreement, i.e. 24/4/2018. Out of the aforesaid amount of Rs. 1,09,73,000/-, a sum of Rs. 44,00,000/- was refunded by the petitioner no. 1 to respondent no. 2 in two years.

(3.) The respondent no. 2 lodged the present First Information Report against the petitioners, alleging therein that at the behest/representation of petitioner no. 2, the respondent no. 2 agreed to invest the amount of Rupees two crores for construction of stilt plus eight floor, multi-storied residential quarters, at Bokaro, by petitioner no. 1.