SUNANDAN KUMAR Vs. STATE

JUDGEMENT

(1.) The Petitioner is stated to have sold 2500 shares of M/s NEPC MICON Ltd. to the complainant for an amount of Rs. 1.00 lac. The said shares were required to be sent to the company for its transfer in the name of purchaser. In lieu of the shares being sold, two cheques for Rs. 50,000/- each were issued in favour of the present Petitioner-accused. On presentation of these cheques for encashment, the same were returned un-cashed. It is alleged that the Petitioner wrote a letter to the company asking it that he has lost his original shares, as such, duplicate shares may be issued in his name. It is, this letter of the Petitioner, which has become basis for filing an FIR against him under Section 420 RPC.

(2.) The allegations against the Petitioner in the challan are that he wrote false letter to the company by requesting it to issue duplicate shares as the original shares have been lost. The investigation in the matter was handed over to the police. Conclusion of the investigation reveals that the Petitioner had transferred the shares in the name of complainant, but no payment was received by him from the complainant. The allegation that complainant had paid Rs. 50,000/- to the Petitioner was found to be in respect of shares of different company, as the vouchers produced by the complainant relate to the different company called as Jindal Strips ltd. Having failed to encash the cheques, the Petitioner wrote false letter to the company, which has construed that the Petitioner has intended to cheat the complainant.

(3.) I have heard learned Counsel for the parties and perused the record.