DILIP S DAHANUKAR Vs. PADAM KUMAR KHAITAN

JUDGEMENT

(1.) These two Criminal Misc. Petitions have been filed under Section 482, of the Code of Criminal Procedure by the petitioners, Dilip S. Dahanukar and Dr. M. J. Salve, Chairman and Managing Director, respectively, of Ecomax Agro Systems Ltd. (since merged with Good Value Marketing Company Ltd.) for quashing the order dated 27-8-1994 passed by the special Court of Judicial Magistrate (Economic Offences) Rajasthan Jaipur, taking congnizance of offence under Section 68 of the Companies Act, 1956 (for short, 'the Act') in pursuance of which processes have been issued to the petitioners.

(2.) The impugned order was passed on the basis of a complaint which was lodged by the complainant, Shri Padam Kumar Khaitan, a lawyer by profession, on August 3, 1993, for offences under Section 63, 64, 65, 68 of the Act also under Sections 405, 409 and 416, IPC. The cognizance has, however, been taken only under Section 68 of the Companies Act.

(3.) It has been stated in the complaint that the complaint is the General Secretary of one, Pinkcity Investor's Forum whose object is to look after the interest of the investors in the shares and to give them legal assistance. The complaint had been lodged against Ecomax Agro System Ltd. (as it then existed) through its Chairman, Shri Dilip S. Dahanukar and its Managing Director, Dr. M. J. Salve - the petitioners herein, and Good Value Marketing Company Ltd., whose Chairman and the Managing Director are respectively the petitioners and Shri Prem Somani, Member, Jaipur Stock Exchange.