O R D E R

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Petitioner is the 4th accused in CC.573/2015 pending before the Judicial First Class Magistrate's Court, Wadakkanchery, which has arisen from Crime No.11/2015 of the Cheruthuruthy Police Station. Petitioner is one of the share holders of a company which was engaged in chitty business. The 1st accused is its Chairman, 2nd accused is the Managing Director and 3rd accused is the Director of the company. Admittedly, accused Nos.4 to 8 are the share holders in the company. Final report has been filed against the accused alleging offences punishable under Sections 406 and 420 read with Section 34 IPC as the company has cheated and defrauded various subscribers of the chitty by not paying the chitty amount.

2. When the petitioner is only a share holder, he cannot have any day to day administration of the company. The persons, who were in charge of the company, are arraigned as accused Nos.1 to 3 in the case. The petitioner cannot be found fault with in taking shares in a company. In such case, the proceedings in CC.573/2015 of the Judicial First Class Magistrate's Court, Wadakkanchery as against the petitioner are liable to be quashed.

In the result, this Crl.M.C. is al