HERDILLIA UNIMERS LTD Vs. ARUN BANSAL

JUDGEMENT

(1.) BY this petition it is prayed that Criminal Complaint No. 59 of 1993 as also the proceedings taken thereon by the trial court Special Court of Judicial Magistrate (Economic Offences), Rajasthan, Jaipur, be quashed and set aside.

(2.) THE petitioner -company, Herdillia Unimers Ltd., for the purpose of increasing its capital came out with a public issue of shares and debentures in the year 1992. The said public issue was to commence on June 1, 1992, and scheduled to close on June 11, 1992. The public issue having been oversubscribed it was duly closed on June 4, 1992, being the earliest scheduled date of closing. Under the terms and conditions of the aforesaid allotment, any person could apply for shares and/or debentures. Every applicant was required to pay a sum of Rs, 10 per equity share and a sum of Rs. 200 per debenture, as the case may be.

(3.) THE respondent, Arun Bansal, has also applied for allotment of shares/ debentures to him and to his wife, Vimlesh Bansal. But no allotment of share or debenture was made and Rs. 3,000 were sent to Arun Bansal, vide refund order No. 192412, further Rs. 3,000 were sent to Vimlesh Bansal, vide refund order No. 192414.