The prosecution must prove fraudulent intent and misappropriation to establish liability under the TPID Act; mere breach of contract is a civil dispute, not a criminal offence.

JUDGMENT

1. This is an appeal filed by the convict-appellant against the judgment and order of conviction and sentence dated 22.11.2018, passed by the learned Special Judge, Gomati Judicial District, Udaipur in connection with Case No. Special 05 (TPID) of 2015 whereby and whereunder the appellant was convicted and sentenced to suffer RI for 4(four) years and also to pay fine of Rs.50,000/- only with default stipulation for commission of offence under Section 3 of the Tripura Protection of Interest of Depositors (Financial Establishment) Act, 2000, [here-in-after referred to as 'TPID Act, 2000'] and further sentenced to suffer R.I for 1(one) year for commission of offence under Section 406 of the INDIAN PENAL CODE .

2. Brief Facts:

2.1. R.K. Pur PS Case No. 487/2011, dated 14.11.2011 was registered by the Officer-in-Charge of R.K.Pur PS under Sections 420 and 406 of the INDIAN PENAL CODE against the accused persons, namely, Amar Dey, Tanay Das, and Dibakar Das based on a written complaint lodged by one Goutam Dey. In the said complaint, the complainant stated that there was an office of Rubi Star Marketing Pvt. Ltd./Real Estate in Udaipur. In June, 2010 the State Government started an investigation against various chit fund organizations by way of bringing allegations of cheating and fraudulent collection of money from the public and launched a crackdown on the chit fund companies and sealed the head office of the companies at Agartala. The process was followed by the closure of branch offices of the companies across the State. However, the State Government permitted companies to reopen their offices from 10.08.2010, but, Rubi Star Marketing Ltd. did not reopen its offices, nor did make payment of maturity of the customers instead wound up all its offices. It is alleged that the local Branch-in-charge of Udaipur, namely, Sri Amar Dey of Chhanban, the Managing Director, namely, Sri Tanay Das, and the Chief Managing Director of the said Company, namely, Sri Dibakar Das of Bongaon, 24 Pargana, West Bengal allured the public and collected money from the public. Moreover, the entire discourse was the mutual effort of the Branch-in-charge and the Managing Director, namely, Sri Amar Dey and Sri Tanay Das who, with the agents and staff of the company, turned up a network to issue false certificates of investments and thereby cheated the investors. However, the investors tried to communicate with the Branch-in-charge, i.e. Sri Amar Dey, but, it was found that he went on underground. Thus, the complainant prayed to get the return of their deposits and take legal action against the accused persons.

2.2. The case was endorsed to S.I, Surya Kanta Jamatia for investigation. Subsequently, the case was transferred to the CID and the same was endorsed to Sri Benulal Kar, Officer of CID to investigate the case. Taking up the investigation, the investigating officer recorded statements of the witnesses and seized some documents. Thereafter, the officer submitted charge-sheet on 30.01.2013 against the accused persons, namely, Dibakar Das, Amar Dey, Tanay Das, and Manoranjan Debnath under Sections 406 ,420 and 109 of the IPC read with Section 3 of the TPID Act, 2000.

2.3. After taking cognizance, the learned Chief Judicial Magistrate, Udaipur, transferred the matter to the court of learned Judicial Magistrate 1st Class, Udaipur for trial. The learned Judicial Magistrate 1st Class after perusal of records, split up the case vide order dated 08.07.2014 in respect of the accused persons, namely, Amar Dey and Dibakar Das on account of their absconsion and vide order dated 09.01.2015 committed the case before the learned Special Judge