1. The petitioner is stated to have sold 2500 shares of M/s NEPC MICON Ltd. to the complainant for an amount of Rs. 1.00 lac. The said shares were required to be sent to the company for its transfer in the name of purchaser. In lieu of the shares being sold, two cheques for Rs. 50,000/- each were issued in favour of the present petitioner-accused. On presentation of these cheques for encashment, the same were returned un-cashed. It is alleged that the petitioner wrote a letter to the company asking it that he has lost his original shares, as such, duplicate shares may be issued in his name. It is, this letter of the petitioner, which has become basis for filing an FIR against him under Section 420 RPC.

2. The allegations against the petitioner in the challan are that he wrote false letter to the company by requesting it to issue duplicate shares as the original shares have been lost. The investigation in the matter was handed over to the police. Conclusion of the investigation reveals that the petitioner had transferred the shares in the name of complainant, but no payment was received by him from the complainant. The allegation that complainant had paid Rs. 50,000/- to the petition

Click Here to Read the rest of this document