The ingredients of the offenses under Sections 420, 467, 468, 471, and 120(B) of the IPC are satisfied when a person fraudulently induces another person to invest money in a scheme, promising high returns, and subsequently closes the scheme and absconds with the investor's money.

JUDGMENT :

ANUBHA RAWAT CHOUDHARY, J.

1. Heard Mr. Pankaj Srivastava, the learned counsel appearing on behalf of the petitioners in both the cases alongwith Mr. Amit Kumar, Advocate.

2. Heard Mr. Bishwambhar Shastri, A.P.P. and Mr. Tapas Roy, A.P.P. appearing on behalf of the Opposite Party-State in their respective cases.

3. Both these criminal revision applications are directed against the Judgment dated 03.02.2012 passed by the learned Sessions Judge-III, Hazaribag in Criminal Appeal No. 83 of 2011 whereby and whereunder the learned appellate court dismissed the criminal appeal confirming the conviction of the petitioner-Krisna Kant Kuswaha under Sections 420, 467, 468, 471 and 120(B) of the Indian Penal Code and also confirming the conviction of the petitioner-Mundrika Devi under Sections 420 and 120(B) of the Indian Penal Code, but modified and reduced their respective sentences to the period already undergone by them in custody provided that they would pay a fine of Rs. 10,000/- each, in addition to the amount deposited by the investing parties.

4. The learned trial court, vide Judgment of conviction and the order of sentence dated 18.05.2011 passed by the learned S.D.J.M. Hazaribag in G.R. Case No. 3277 of 2008, T.R. No. 1247 of 2011, had convicted the petitioner-Krisna Kant Kuswaha under Sections 420, 467, 468, 471 and 120(B) of the Indian Penal Code and had sentenced him to undergo:

(i) Rigorous Imprisonment for two years under Section 420 IPC and fine of Rs. 4,000/- and in default of payment of fine, to further undergo Simple Imprisonment for six months.

(ii) Rigorous Imprisonment for one year under Section 467 IPC and fine of Rs. 3,000/- and in default of payment of fine, to further undergo Simple Imprisonment for three months.

(iii) Rigorous Imprisonment for one year under Section 468 IPC and fine of Rs. 3,000/- and in default of payment of fine, to further undergo Simple Imprisonment for three months.

(iv) Rigorous Imprisonment for one year under Section 471 read with Section 465 of IPC.

(v) Rigorous Imprisonment for six months under Section 120(B) of the Indian Penal Code.

5. The learned trial court had convicted the petitioner-Mundrika Devi under Sections 420 and 120(B) of the Indian Penal Code and had sentenced her to undergo Rigorous Imprisonment for two years under Section 420 of the Indian Penal Code and fine of Rs. 4,000/- and in default of payment of fine, to further undergo Simple Imprisonment for four months and Rigorous Imprisonment for six months under Section 120(B) of the Indian Penal Code. All the sentences awarded to both the petitioners were directed to run consecutively and the period of detention undergone by the petitioners in custody was directed to be set off against their sentence of imprisonment.

Arguments on behalf of petitioner in Cr. Rev. No. 147 of 2012

6. The learned counsel for the petitioners submitted that the entire allegation is that a company, which was not entitled to enter into banking transaction, was represented by the petitioners who collected money from the depositors.

7. On the point of forgery and cheating, the learned counsel submitted that Section 463 of Indian Penal Code defines the offence of forgery, while Section 464 of IPC substantiates the same by providing an answer as to when a false document could be said to have been made for the purpose of committing an offence of forgery under Section 463 of IPC. Therefore, it can safely be deduced that Section 464 of IPC defines one of the ingredients of forgery i.e. making of a false document. Further, Section 465 IPC provides punishment for the commission of the offence of forgery. In order to sustain a conviction under Section 465 IPC, first it has to be proved that forgery was committed under Section 463 of IPC, implying that ingredients under Section 464 of IPC should also be satisfied. Therefore, unless and until the ingredient