The court ruled that serious allegations of corporate malfeasance necessitate thorough investigation despite initial closure due to insufficient evidence, asserting the scope of further investigation under Section 173(8) of the Criminal Procedure Code.

JUDGMENT :

S.K. Panigrahi, J.

1.The Petitioner, through the Present Petition, challenges the inaction of the Opposite Party Nos.6/Assistant Commissioner of Police, Sub-Division-VI, Infocity Area, Bhubaneswar and 7/Inspector-In-Charge, Infocity Police Station, Infocity Area, Bhubaneswar in submitting the Final Form/Charge- sheet dated 21.11.2022 under Annexure-6 on the ground of the matter being civil in nature. No sufficient evidence could be gathered to level charges against the alleged accused persons i.e. the present Opposite Party Nos.8 to 16. The matter has been closed due to insufficient of materials. Therefore, the present Petitioner approached this Court seeking a direction to continue further investigation/re-investigation under Section 173 (8) of the Cr.P.C. and submit Supplementary Charge-Sheet relating to Infocity P.S. Case No.48 of 2021 corresponding to C.T. Case No.1336 of 2021 pending in the court of the learned S.D.J.M., Bhubaneswar.

I. FACTUAL MATRIX OF THE CASE:

2. Bereft of unnecessary details, the brief facts giving rise to the present criminal application is that based on the direction under Section 156 (3) of Cr.P.C passed by the learned S.D.J.M., Bhubaneswar in the Complaint Petition, the IIC, Infocity P.S. registered the F.I.R. vide Infocity P.S. Case No. 48 of 2021 corresponding to C.T. Case No. 1336 of 2021 for commission of offence under Section 379 /405/406/417/418/420/424/465/467/468/469/120-B/34 IPC against the present Opp. party No.8 to 16 (alleged accused persons).

3. The allegation is that the present Opp. Party Nos.8, 9 and 10 along with other alleged accused persons have fraudulently transferred the money from the Company Account i.e. M/s. In2IT Technologies Private Limited and subsidiary Company to their own created Company i.e. M/s. Alphacodes IT Solutions Private Limited including their personal accounts (where the Opp. Party Nos.13 and 14 are the Directors of the said Company so also who are the Sisters of the Opp. Party No.8 namely Saurabh Kumar & Opp. Party No.9 named Mr. Vishal Upasrao Barapatre) by violating the Agreement executed between the present Petitioner with the alleged accused persons. Further, it is submitted that the Key employees of the company i.e. M/s. In2IT Technologies Private Limited have transferred to M/s. Alphacodes IT Solution Private Limited so also had the fraudulent transaction in contravention to the sanction letter of Indusind Bank, Bhubaneswar Branch by withholding the statutory dues of the Petitioner including the dues of the Company by the Opp. Party No. 8 to 10. The Opp. Party No. 8 & 9 have not paid the TDS, Income Tax, loan amount and other statutory dues of the Company neither are they releasing the property of the petitioner which was mortgaged with the ICICI Bank.

4. It is submitted that M/s. In2IT Technologies Private Limited entered into an Exclusive Service Agreement on 31.05.2017 with M/s. In2IT Tech Pty Ltd, a Company incorporated under the laws of South Africa having its Registered Office in South Africa majority shale of which is owned by M/s. In2IT Technologies Pvt. Ltd for the purpose of appointing M/s. In2IT Technologies Private Limited as the Executive Global Service Provider of M/s. In2IT Tech Pty Ltd. As per the terms and conditions of ESA (Exclusive Service Agreement) the company M/s. In2IT Technologies Private Limited was to act as an exclusive and independent Contractor in consideration o