9911796707
TMI Blog2010 (6) TMI 333X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. In sum and substance, in absence of availability of the correct fact, it appears that the learned Magistrate had proceeded with the complaint petition and passed the order of cognizance. In view of the facts and circumstances, as indicated hereirnabove, the court is satisfied that allowing the present complaint petition to proceed further will amount to allowing abuse of the process of the court. It would also not be appropriate to direct the petitioners to participate in the proceeding, which was stayed in the year 2000, i.e., after a lapse of such a long time. Accordingly, the order of cognizance dated 17-11-1997, as well as the entire proceedings in Complaint Case No. 919 of 1997 is set aside so far as it relates to the two petit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rectors of M/s. CRB Capital Markets Ltd., Mumbai and other accused persons, had cheated the complainant and the accused persons has committed offences under sections 406 and 420 of the Indian Penal Code, 1860. On the aforesaid allegation, opposite party No. 2, namely, Bindeshwari Prasad filed the aforesaid complaint petition. 3. The complaint petition was filed on 15-11-1997 and thereafter the case was fixed for hearing on 17-11-1997. On 17-11-1997, the learned Chief Judicial Magistrate, Sasaram (Rohtas) examined the complainant on S.A., and thereafter the learned court below on the basis of the statement of the complainant and after examining the complaint petition, by its order dated 17-11-1997, took cognizance of offences under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the impugned order of cognizance. It was argued that the deposits made by the complainant/opposite party No. 2 were to mature on 23-9-1997 and prior to the date of maturity of the fixed deposits, of the complainant a liquidation proceeding was already initiated by the Delhi High Court vide Company Petition No. 191 of 1997. It was submitted that petitioner No. 1 was a director of M/s. CRB Capital Markets Ltd., Mumbai and petitioner No. 2 who was also a director, had already resigned on 25-2-1997. It was argued that M/s. CRB Capital Markets Ltd., Mumbai was a non-banking financial company regulated by the Reserve Bank of India under the Reserve Bank of India Act, 1934 and the same was duly incorporated under the Companies Act, 1956, with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioners either to cheat the complainant or to commit any offence. Whatever had happened had happened due to the reasons, which were beyond the control of the petitioners and, as such, no offence was committed by the petitioners. Accordingly, it has been argued that in the absence of any material available on record to show that the petitioners had committed any offence the learned Magistrate has incorrectly and in haste proceeded with the proceeding against the petitioners on a complaint, which was filed on 15-11-1997 and only on 17-11-1997, the learned Magistrate has passed the order of cognizance. Accordingly, it has been prayed to quash the entire criminal proceedings in Complaint Case No. 919 of 1997 including the order of cogniz ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the complainant. At the same time, in view of the facts and circumstances, it cannot be said that the petitioners had committed any offence, as alleged by the complainant and, accordingly, it was required on the part of the complainant to inform the learned Chief Judicial Magistrate at the time of filing of the complaint petition regarding the present status of the company in question. Had it been disclosed in the complaint petition, there was every possibility of rejection of the complaint petition. In sum and substance, in absence of availability of the correct fact, it appears that the learned Magistrate had proceeded with the complaint petition and passed the order of cognizance. 8. Accordingly, in view of the facts and circumstance ..... X X X X Extracts X X X X X X X X Extracts X X X X
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