JUDGEMENT

ORDER RESERVED ON : 08/04/2024 ORDER PRONOUNCED ON : 31/07/2024 BY THE COURT: -

1.By way of filing the instant miscellaneous petition, challenge is made to the very lodging of the FIR No.48/2021 of Police (2 of 23) Station, Nimbahera, District Chittorgarh for the offence under Sections 406 and 420 of the Indian Penal Code, 1860 (“IPC”).

2.Heard learned counsel for the petitioner as well as learned Public Prosecutor for the State and perused the FIR impugned alongwith other material made available to this Court.

3.Briefly stated the facts of the case as mentioned in the FIR are that Respondent No.2 Shri Puran Mal Aanjana filed a complaint on 21.01.2021 at the Police Station, Nimbahera, District Chittorgarh stating therein that he is a partner in a company named M/s Sarvodaya Mining Services and also is a director in Capricon Credit Pvt. Ltd. It is further stated that the petitioners are directors of Mentor Capital Ltd. and Govindam Spinners India Public Ltd. Both the parties know each other from a long haul because of their business relations and in the year 2019 petitioners contacted complainant with an offer to buy a property at a cheap rate and also assured him about the great profit from the business deal proposed if he would invest his money into this.

Whereafter he was assured by the petitioners about the losses in the business deal, if occurred will be taken care by the petitioners.

Upon this proposal, complainant got motivated and persuaded by the words of the petitioners transferred Rs. 1,80,00,000/- (Rupees One Crores and Eighty Lacs) on 11.01.2019 from the account of M/s Sarvodaya Mining Services to the Mentor Capital Ltd. On 23.01.2019 complainant transferred Rs. 95,00,000/- (Rupees Ninety-five lacs) from Capricon Credit Pvt. Ltd. to petitioner’s firm Govindam Spinners India Public Ltd. Whereafter, he was assured (3 of 23) by the petitioners that his amount has been invested in the business proposed and he will receive good profit from it. Time and again, he inquired them regarding his investment but every time they answered that till now, no profit has been gained. One month prior to lodging of the FIR, the complainant contacted with the petitioners and told them that he is in the need of money requested them to return his invested money, upon which, the petitioners told him that they have intentionally induced him and denied to return the money back. On the basis of this, the said FIR was lodged.

4.Learned counsel appearing for the petitioners argued that the complainant was known to them, prior to entering into business deal, terms and conditions of which were agreeable to both the parties and are involved in a land developing business.

All the three companies that are M/s Sarvodaya Mining Services (ACC Mining Ltd.), Capricon Credit Pvt. Ltd. and Mentor Capital Ltd. are indulged in business transaction since 2006. Being the directors and shareholders in each other’s companies, complainant have 85% holding in Capricon Credit Pvt. Ltd. and 15% in the company of the petitioner i.e., Mentor Capital Ltd. It is further stated that the transaction which took place between the petitioners and the complainant of Rs. 1,80,00,000/- (One crores and Eighty Lacs) was first being transferred on 11.01.2019 from complainant’s firm i.e., ACC Mining Ltd. to the petitioner’s firm i.e., Mentor Capital Ltd. which is subsequently transferred to Capricon Credit Pvt. Ltd. in which the complainant is a director and has 85% holding as shown in the relevant statement of account (4 of 23) provided by the petitioners. The petitioners further mentioned that the transaction which took place was actually a land purchase deal and complainant had agreed to purchase a land bearing 2.6 hectares at a total price of Rs. 6,50,00,000/- (Rupees Six Crores and Fifty Lacs) and for that purpose the advance