9911796707
TMI Blog2018 (3) TMI 1944X X X X Extracts X X X X X X X X Extracts X X X X ..... r could be used by the authority for the purpose of filing a complaint before the competent court. There are no hesitation in accepting the submission canvassed by the learned counsel appearing for the writ-applicants having regard to the settled position of law, which has been explained in the referred order - application allowed. X X X X Extracts X X X X X X X X Extracts X X X X ..... port. The learned counsel seeks to rely on Section-26 of the Act, which provides that, 'No Court shall take cognizance of any offence punishable under the Act except on a complaint made by the Central Government or State Government or SEBI or a recognized Stock Exchange or by any person'. In such circumstances referred to above, the learned counsel prays that the prosecution be quashed. 6. Having heard the learned counsel appearing for the parties and having considered the materials on record, the only question that falls for my consideration is whether the prosecution should be quashed. 7. The issue raised in this writ-application is squarely covered by an order passed by this Court dated 27/04/2015 in the Special Criminal Applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cember 2014. Mr.Pujari waives service of notice for and on behalf of the respondents. It appears that the respondent no.2, a Police Constable of Mehsana B-Division Police Station, Mehsana, received an information, and based upon such information, lodged an FIR against the applicants herein for the offence punishable under Section 23(1) of the Securities Contracts (Regulation) Act, 1956 and Section 15H(A) of the Securities and Exchange Board of India Act, 1992. It also appears that on conclusion of the investigation, charge-sheet has been filed and the case as on today is pending in the Court of the 3rd Additional Sessions Judge, Mehsana, being sessions triable case. It appears that the applicants herein filed an application for discha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rson'. The issue which falls for my consideration is, whether the court before whom the charge-sheet is filed can take cognizance of the offence. The word 'complaint' figuring under Section 26 of the Act means, a complaint in writing before the court as defined under Section 2(d) of the Code of Criminal Procedure. I am conscious of the fact that Section 25 makes the offence under Section 23 of the Act a cognizable offence. Since Section 23 is a cognizable offence, the police would definitely have the power to investigate. To this extent, there is no problem. The police has investigated, chargesheet is filed. Now the stage has come for the court to take cognizance. In my view, the Sessions Court will not be able to take cognizanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is permitted." Mr.NJ Shah, the learned APP appearing for the State very fairly submitted that the position of law being well settled, the prosecution must fail. In the aforesaid view of the matter, this application is allowed. The proceedings of Sessions Case No.20 of 2014 pending in the Court of 3rd Additional Sessions Judge, Mehsana are hereby quashed. All consequential proceedings pursuant thereto stand terminated. Rule is made absolute. Direct service is permitted. 8. I have no hesitation in accepting the submission canvassed by the learned counsel appearing for the writ-applicants having regard to the settled position of law, which has been explained in the above referred order. 9. In the result, this writ-application succee ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
