RAMESH KANTILAL NANAVATI Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) Heard Learned Counsel appearing for the petitioners and Learned Counsel appearing for the opposite party No. 2. This application has been filed for quashing of the entire criminal proceeding of complaint case bearing No. C/1-1611 of 2008 including the order dated 22.12.2008 passed by the Judicial Magistrate, Jamshedpur whereby and whereunder cognizance of the offence punishable under Section 420 of the Indian Penal Code has been taken against the petitioners.

(2.) It is the case of the complainant that the complainant had purchased 1000 shares of Himadri Chemicals & Industries Limited on 5.2.1997 from M/s. D.P. Consultancy, Jamshedpur. After purchasing all the shares, the complainant could not lodge such shares with the Company for transferring the same for quite long time as the share certificates had been lost. However, when share certificates were traced, the same were lodged for transfer with M/s. S.K. Computer, Kolkata. The said S.K. Computer informed to the complainant that those shares had already been transferred in the name of these petitioners.

(3.) Having come to all about it, the complainant through his Advocate made request to the petitioners to transfer the said shares along with relevant documents, to which the petitioners did respond whereby the petitioners by writing letter to the complainant expressed their desire to transfer those shares to the complainant on furnishing proper proof of his identity and other relevant documents showing purchase of those shares by him. In spite his admission of having shares with him it were not transferred to the complainant. On such allegation, the complaint was lodged which was registered as Complaint Case No. C/1-1611 of 2008. After holding enquiry cognizance of the offence was taken under Section 420, vide order dated 22.12.2008 which order is under challenge.