JUDGMENT :

1. Heard Mr. M.S. Mittal, learned senior counsel along with Mr. Salona Mittal, for the petitioners, Mr. Ashish Kumar, A.C. to G.A.-II, for the State and Mr. Shailesh, learned counsel for the O.P. No. 2.

2. This petition has been filed for quashing of the FIR as well as the entire criminal proceeding, arising out of an FIR, in connection with Dhanbad P.S. Case No. 136 of 2020, registered under Sections 420/406/34/120-B of the Indian Penal Code, pending in the court of learned Chief Judicial Magistrate, Dhanbad.

3. The FIR was lodged by the informant alleging therein that the informant and his wife opened two Demat Trading Accounts through franchisee agent Jitendra Agarwalla, Kirana Patti, Jharia in M/s Bonanza Portfolio Ltd., Regd. Office-4353-4C, Madan Mohan Street, Ansari Road, Drayaganj, New Delhi, whose partners/proprietors are S.K.Goyal, S.P. Goyal, V.K. Agarwal, Shiv Kumar Goyal, Narendra Singh. My client ID is R14438 and my wife Kavita Keshri’s client ID is R14418. My wife deposited a sum of Rs. 16,11,500/-between 05.06.2018 to 04.03.2020 in her account and I deposited a sum of Rs. 26,87,999/-in my account from 30.01.2019 to 04.03.2020 for investing in shares. I used to invest most of my money in Yes Bank Shares’ Future and delivery stock. There was to lots each (total no. 8800x4=35200) in client ID-R14418 and R14438 in future on 06.03.2020. Bonanza Portfolio Limited sold the said shares without giving information to the franchise broker, thereby, committing breach of trust at the historical lowest price of Rs. 4.95 even through, on that very day, there was credit balance of Rs. 5,43,150.46. In that situation Bonanza company could have sold only those shares whose value equaled to the short amount but instead of doing that the company from its office at Delhi sold out all shares from my account and from the account of my wife even when the trading work was done by local broker Jitendra Agarwal (who performs the job of share-purchase). But neither the local broker was informed, nor I was informed of difference margin. On 06.03.2020 mighty share brokers with help of operators cause fall of Yes Bank shares by 85% for few seconds, and sold off all shares (35200 in number) of both accounts for making wrongful gains. Due to this act of the company, there is less of Rs. 41,78,307.67 in both the accounts. I mailed to the company in this connection on 11th March and 12th March. But no reply was sent from Company’s end. It is my claim that the five partners of Bonanza Portfolio S.K. Goyal, S.P. Goyal, V.K. Agarwal, Shiv Kumar Goyal, Narendra Singh under a conspiracy committed fraud and cheating and breach of trust by selling all shares of Yes Bank of my account and my wife’s account.

4. Mr. M.S. Mittal, learned senior counsel appearing for the petitioners submits that the petitioner Nos. 1 to 4 are the Directors of the Company namely M/s Bonanza Portfolio Ltd., a Company incorporated under the Companies Act, 1956, having its registered office at 4553/4C, Madan Mohan Street, Ansari Road, Darya Ganj, New Delhi. He submits that the said company is a registered Stock Broker with Securities and Exchange Board of India (SEBI) and a Trading Member of National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange of India (BSE) and providing stock broking services to its Clients all over India. He further submits that the accused No. 5 in the FIR, Narendra Singh was an employee of the company and has left employment of the company on 30.06.2020. He further submits that the company has not been made an accused in the FIR and there are no specific allegations against the Directors. He also submits that there are almost 650 employees working all over India in the aforesaid company.

5. Learned senior counsel has elaborated his arguments by way of submitting that in the FIR it has been mentioned that two lots of Yes Bank Futur