JAYANTILAL V. GADA Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) In this criminal miscellaneous petition, the petitioner has prayed for quashing the First Information Report, registered as Bokaro Steel City Police Station Case No.321 of 2018 for offences alleged under Sections 420, 406, 506 and 34 of the Indian Penal Code.

(2.) After hearing the parties at length, order was reserved in this case on 22.02.2021.

(3.) Counsel for the petitioner submited that by no stretch of imagination, a criminal offence is made out, which would be apparent from bare perusal of the First Information Report. He submits that a business transaction has been given color of a criminal case. He further submits that the parties agreed to invest in a joint venture business. Sharing of the profit or loss cannot come within the purview of a criminal offence. He submits that in view of the proposition of law settled by the Hon'ble Supreme Court in the case of State of Haryana and Others versus Bhajan Lal and Others, reported in 1992 Supp(1) SCC 335, no offence is made out, thus, the First Information Report needs to be quashed.