BINOD PODDAR Vs. STATE OF BIHAR

JUDGEMENT

(1.) Petitioners have preferred this application under Sec. 482 Crimial P.C. for quashing the order dated 10.7.2013 passed by learned Sub-Divisional Judicial Magistrate, Madhubani in T.R. No. 4594 of 2013, arising out of Madhubani (Town) P.S.Case No. 113 of 2013, whereby and where under learned Magistrate has been pleased to take cognizance of the offences under Sections 406, 408, 420, 120B, 467, 468, 471 of the Indian Penal Code and Sec. 76 of the Chit Fund Act, 1982 and Sec. 7(ii) of the Bihar Protection of Interest of Depositors (In financial establishments) Act, 2002 & Rules 2004.

(2.) As per prosecution, the Block Development Officer, Tirkaulia Block, East Champaran pursuant to the order contained in Memo No. 199 dated 5.2013 on 3.5.2013, along with Manager of Agarani Bank raided the premises of Samruddha Jeevan Foods India Limited (hereinafter referred to as SJFIL) branch , Motihari and it was found that office staff and agents of aforesaid firm were accepting monthly instalment or one time payment and entering into agreement with the customers to supply within 2-5 years buffalo, goat, calf or money and from which it appears prima facie act of cheating and their activities appears like non-banking organization but the Manager, i.e., the petitioner told that it is the business of sale and purchase. It is further alleged that from the activities of the Company it appears that there is no safety of the money of the people nor the Company has any authorization either from R.B.I. or SEBI and, as such, filed a complaint for institution of a case on the basis of which the case under the aforesaid Sections was instituted against the petitioner and thereafter charge-sheet has been submitted in this case under the aforesaid sections and thereafter learned SDJM has taken cognizance by the impugned order under the aforesaid sections, as stated above.

(3.) The petitioners have challenged the order taking cognizance.