JUDGMENT :

INDRAJIT MAHANTY, J.

1. The Appellant has sought to challenge the impugned order dated 6th December, 2018 passed by the learned Special Judge, MPID Court, while directing issuance of Non Bailable Warrant (NBW) against the appellant in Miscellaneous Application No.1462 of 2018 arising out of MPID Special Case No.1 of 2014.

2. When notices were issued in this Appeal, objections were raised on behalf of the prosecution to the effect that the Appellant had alternate remedy to apply for cancellation of warrant before the MPID Court, Mumbai and consequently the Appellant was granted liberty to move the MPID Court seeking cancellation of NBW.

3. Criminal Appeal No. 919 of 2019 has come to be filed by the Appellant seeking to impugn the order dated 27th June, 2019 passed by the learned Special Judge, MPID Court, rejecting the prayer made by the appellant seeking cancellation of NBW issued in the matter.

4. Since both the matters were interconnected, with the consent of parties, both the matters are taken up for disposal by this common Judgment.

5. The essential question that arises for consideration in the present case is, as to whether the learned Special Judge, MPID Court was justified in issuing NBW against the Appellant vide order dated 6th December, 2018. On perusing the Appeal Memo we find that the prosecution had moved an application before the learned Special Judge under MPID Act, which was registered as Miscellaneous Application No.1462 of 2018 arising out of CR No.89 of 2013 (MPID Special Case No.1 of 2014). In this application, it was alleged that the appellant was a whole time Director of NSEL from 18th May 2005 to 21st June 2011 and was also a “key management person”. The application also indicates that the prosecution had learnt that the appellant had left the country to look after Singapore Exchange of Financial Technologies Singapore PTE Ltd., a subsidiary company of M/s. 63 Moon Technologies Ltd. (Earstwhile FTIL). It was further alleged that the Appellant was responsible for all criminal activities of NSEL including illegal pair contracts, not keeping sufficient stocks in NSEL Godowns, fictitious trades on NSEL platform, misuse of SGF fund. He was in loop through email with CEO Mr.Anjani Sinha and others while taking important decisions and thus his day to day involvement in day to day affairs of the company. It was alleged that the appellant was one of the absconding accused and though the Investigating Officer had tried to contact the appellant through various modes of communication but same proved to be futile. It was also alleged that API Om Wangate visited the residence of the appellant at Mumbai, where inquiries were made and at the relevant time his house was under lock and key; similarly the watchman and secretary of the society were also querried, but they were not in a position to provide any material information, however the Secretary Mr.Ramesh Jokhani provided the appellant’s latest email address and mobile number available in the society office. It was alleged that email was sent on the address provided by the Secretary; and the appellant was also tried to be contacted on mobile number which was shown as switched off. Whenever the appellant was contacted on telephone number his phone was switched off.

6. Mr.Kadam, learned counsel for the appellant submitted that the following facts of the case :

(i). It is stated in this Appeal that the Appellant had joined the Financial Technologies India Limited (FTIL) as an employee as Chief Technology Officer where he worked in such capacity till April, 2005 where after the Appellant was appointed as Director-Strategy (Non-Board) of the said company. It is also averred that the Appellant was appointed as Non executive Director on the Board of National Spot Exchange Limited (NSEL) as a nominated by FTIL and worked as such from 18th May 2005 to 20th December, 20