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MAHESHAN NAGAPRASANNA
C. Parthasarathy – Appellant
Versus
State of Karnataka – Respondent
JUDGMENT
Maheshan Nagaprasanna, J. - The petitioner in the subject petition calls in question registration of crime in Crime No. 84 of 2021 registered for offences punishable under Sections 107, 424, 427, 34, 418, 421, 403, 406, 409, 411, 413, 414, 420, 468, 120, 120A, 378, 405, 410, 415, 425, 463, 464 and 117 of the IPC and pending before the IV Additional Chief Metropolitan Magistrate, Bangalore City.
2. Brief facts leading to the filing of the present petition, as borne out from the pleadings, are as follows:-
M/s. Karvy Stock Broking Limited (hereinafter referred to as 'the Company' for short) is a Company involved in the business of share broking, financial advisory and other allied services. The petitioner is presently the Director of the Company. A complaint comes to be registered against the Company on 8-09-2021 by one M/s. B.K.G. Mining Private Limited and its officers alleging that the Company through its officers has misutilized the Power of Attorney granted to it on the investments made which has resulted in huge losses to the investor/complainant for the wrong doing of the Company. The complaint becomes a crime in Crime No. 84 of 2021 for several offences noted supra. Reg
The main legal point established in the judgment is the significance of SEBI's findings in establishing the misuse of Power of Attorney, misappropriation of funds, and securities belonging to investo....
A share broker cannot be prosecuted under IPC for disputes arising from investment transactions, which should be addressed under the SEBI Act.
Criminal conspiracy in terms of Section 120-B of the Code is an independent offence. It is punishable separately.
The defense of the accused regarding their knowledge of the company's activity cannot be adjudicated at the time of framing of charge and should be considered during trial. The onus of proof on the a....
The main legal point established in the judgment is the interpretation and application of the pre-amended and amended provisions of Section 24 of the SEBI Act in determining the guilt and imposition ....
Point of law: transaction under which, one party deposits with the other or lends to that other a sum of money on promise of being paid interest at a rate higher than the agreed rate of interest cann....
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