FEDERAL BANK LTD Vs. SARALA DEVI RATHI

JUDGEMENT

(1.) THE facts giving rise to this petition under Section 482 of the Code of Criminal Procedure, 1973 ('the Code'), are as under ;

(2.) THE respondent, Smt. Sarala Devi Rathi, had purchased 100 shares of petitioner No. 1 -bank and had forwarded them to petitioner No. 1, by registered post with acknowledgment due on August 23, 1994. The said shares were received by petitioner No. 1 -bank, on August 30, 1994, but were not sent back to the respondent, after doing the needful long after the expiry of the period of two months and thereupon, the respondent filed a complaint under Section 113 of the Companies Act, 1956 ('the Act'), in the court of the learned Judicial Magistrate (Economic Offences), Jaipur, impleading petitioner No. 1 -bank, petitioner No. 2, Shri P.C. Chako, as the managing director of petitioner No. 1 -bank, and four other directors of petitioner No. 1 -bank. The learned Judicial Magistrate recorded the statement of the respondent arid on the basis of the abovesaid inquiry, came to the conclusion that there was a prima facie case against petitioners Nos. 1 and 2 and summoned them vide the impugned order dated March 11, 1996. Feeling aggrieved, the petitioners have approached this court by filing this petition.

(3.) I have heard learned counsel for the parties and have also perused the impugned order.