JUDGMENT :

Vipin Sanghi, J.

1. The present is a reference received from the Learned Additional District & Sessions Judge-II, North-West District, Rohini Courts, Delhi, Dr. Kamini Lau under Section 395(2) of the Code of Criminal Procedure, 1973 (Cr.P.C. for short). The questions of law framed by the Ld. ASJ for determination of this Court, read as follows:

"a. Whether in a case of inducement, allurement and cheating of large number of investors/depositors in pursuance to a criminal conspiracy, each deposit by an investor constitutes a separate and individual transaction or all such transactions can be amalgamated and clubbed into a single FIR by showing one investor as complainant and others as witnesses?

b. If in case the Hon'ble Court concludes that each deposit has to be treated as separate transaction, then how many such transactions can be amalgamated into one charge-sheet?

(Note: - As per the provisions of section 219 Cr.P.C. and as observed by the Hon'ble Apex Court in the case of Narinderjit Singh Sahni & Anr. Vs. Union of India & Ors. Only three transactions in a particular year can be clubbed in a single charge-sheet).

c. Whether under the given circumstances the concept of max