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ANISH KUMAR GUPTA
Jitendra Kumar Keshwani – Appellant
Versus
State Of U. P. – Respondent
JUDGMENT :
Hon'ble Anish Kumar Gupta, J.
1. Heard Sri Hitesh Pachori, learned counsel for the applicant, Sri Manish Trivedi, learned counsel for the opposite party no.2 and learned Sri Rajeev Kumar Singh, A.G.A. for the State.
2. The instant application under Section 482 Cr.P.C. has been filed seeking quashing of charge-sheet dated 06.09.2018 and cognizance order dated 12.04.2019 as well as the entire criminal proceedings in Case No. 21416 of 2019 (State of U.P. Vs. Jitendra Kumar Keshwani), arising out of Case Crime No. 160 of 2018, under Sections 420, 409 of the India Penal Code (hereinafter referred to as, 'I.P.C.'), Police Station- Hariparvat, District- Agra, pending in the court of Chief Judicial Magistrate, Agra.
3. The brief facts of the instant case are that the opposite party no.2 has lodged an F.I.R. being Case Crime No. 160 of 2018 under Section 420 and 406 I.P.C. alleging therein that the applicant herein is the Director/proprietor of M/s LDK Share and Securities Pvt. Ltd., who was the licensed share broker. In the F.I.R. it has been alleged that the opposite party no. 2 and his younger brother Ram Kumar Sharma were having Demat Accounts with the Stock Holding Corporation o
A share broker cannot be prosecuted under IPC for disputes arising from investment transactions, which should be addressed under the SEBI Act.
The court established that a mere loss in investment does not constitute cheating unless there is evidence of dishonest intention at the time of the transaction.
The court determined that mere breaches of contract do not constitute criminal offences without proof of fraudulent intent, emphasizing that civil disputes should not be converted into criminal compl....
Point of law : exercise powers under Section 482 CrPC, the complaint in its entirety shall have to be examined on the basis of the allegation made in the complaint/FIR/charge-sheet and the High Court....
The court held that mere breach of contract does not constitute a criminal offence of cheating or criminal breach of trust, emphasizing the necessity of fraudulent intent from inception.
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