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NON­REPORTABLE

IN THE SUPREME COURT OF INDIA 

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO.  6396  OF 2012

MANOHAR M. GALANI

…APPELLANT(S)

Versus

STATE OF GUJARAT & ORS.

       …RESPONDENT(S)

J U D G M E N T

Deepak Gupta, J.

1.

Briefly stated the facts necessary for disposal of this appeal

are that the appellant’s sister had started a firm in the name of

M/s. Jubilee Capital Market Services at Ulhasnagar for sale and

purchase   of  shares   and   other  related   financial   services.    The

appellant who was otherwise employed with the Punjab National

Bank was helping his sister in the firm.   One Mr. Kishore K.

Keswani   started   investing   in   shares   and   stocks   through   the

aforesaid firm in March, 1992.  During 1993, the share market

Digitally signed by

DEEPAK GUGLANI

Date: 2019.05.08

13:02:54 IST

Reason:

Signature Not Verified

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crashed   resulting   in   very   heavy   losses   to   all   investors.     Mr.

Keswani,   however,   blamed   the   appellant   for   the   loss   of

approximately   rupees   13   lakhs   allegedly   suffered   by   him.

Thereafter, the said Mr. Keswani instituted as many as 10 cases

against the appellant and his family members directl