S.K. GOEL Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) Heard Mr. M.S. Mittal, learned senior counsel along with Mr. Salona Mittal, for the petitioners, Mr. Ashish Kumar, A.C. to G.A.-II, for the State and Mr. Shailesh, learned counsel for the O.P. No. 2.

(2.) This petition has been filed for quashing of the FIR as well as the entire criminal proceeding, arising out of an FIR, in connection with Dhanbad P.S. Case No. 136 of 2020, registered under Ss. 420 / 406 / 34 / 120-B of the Indian Penal Code, pending in the court of learned Chief Judicial Magistrate, Dhanbad.

(3.) The FIR was lodged by the informant alleging therein that the informant and his wife opened two Demat Trading Accounts through franchisee agent Jitendra Agarwalla, Kirana Patti, Jharia in M/s Bonanza Portfolio Ltd., Regd. Office-4353-4C, Madan Mohan Street, Ansari Road, Drayaganj, New Delhi, whose partners / proprietors are S.K.Goyal, S.P. Goyal, V.K. Agarwal, Shiv Kumar Goyal, Narendra Singh. My client ID is R14438 and my wife Kavita Keshri's client ID is R14418. My wife deposited a sum of Rs.16,11,500.00 between 5/6/2018 to 4/3/2020 in her account and I deposited a sum of Rs.26,87,999.00 in my account from 30/1/2019 to 4/3/2020 for investing in shares. I used to invest most of my money in Yes Bank Shares' Future and delivery stock. There was to lots each (total no. 8800x4=35200) in client ID- R14418 and R14438 in future on 6/3/2020. Bonanza Portfolio Limited sold the said shares without giving information to the franchise broker, thereby, committing breach of trust at the historical lowest price of Rs.4.95 even through, on that very day, there was credit balance of Rs.5,43,150.46. In that situation Bonanza company could have sold only those shares whose value equaled to the short amount but instead of doing that the company from its office at Delhi sold out all shares from my account and from the account of my wife even when the trading work was done by local broker Jitendra Agarwal (who performs the job of share-purchase). But neither the local broker was informed, nor I was informed of difference margin. On 6/3/2020 mighty share brokers with help of operators cause fall of Yes Bank shares by 85% for few seconds, and sold off all shares (35200 in number) of both accounts for making wrongful gains. Due to this act of the company, there is less of Rs.41,78,307.67 in both the accounts. I mailed to the company in this connection on 11th March and 12th March. But no reply was sent from Company's end. It is my claim that the five partners of Bonanza Portfolio S.K. Goyal, S.P. Goyal, V.K. Agarwal, Shiv Kumar Goyal, Narendra Singh under a conspiracy committed fraud and cheating and breach of trust by selling all shares of Yes Bank of my account and my wife's account.