TMI Blog2024 (2) TMI 1090X X X X Extracts X X X X X X X X Extracts X X X X ..... n found to be involved in the alleged offences. The appellant-ED can, for such purpose, initiate appropriate independent proceedings notwithstanding the impugned judgments rendered by the High Courts of Bombay and Delhi. The appellant-ED, besides any other remedy as may be available in law, can resort to two independent proceedings such as: (i) approaching the Judicial Magistrate under Section 156(3) of Cr.P.C.; (ii) filing a review petition before the High Court of Bombay to seek clarification of the impugned judgment to the extent that it shall have no effect on the rights of the appellant-ED. Appeal disposed off. - CRIMINAL APPEAL NO(S).791 OF 2024 (ARISING OUT OF SLP(CRIMINAL) NO(S).2138/2024) [ DIARY NO(S).26629/2022] WITH CRI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... V. Yogeswaran, AOR Mr. Vikash Chandra Shukla , AOR ORDER 1. Permission to file special leave petitions is granted. 2. Delay condoned. 3. Leave granted. 4. These criminal appeals at the instance of the Directorate of Enforcement (in short, ED ) are directed against (i) the judgment dated 04.05.2022, passed by a Division Bench of the High Court of Judicature at Bombay in Writ Petition No.1805/2021 and Writ Petition No.6812/2021, whereby FIR Crime No.0129/2021, dated 13.04.2021, registered at Wada Police Station for the offences punishable under Sections 420, 464, 465, 467, 468, 469, 470, 471 read with Section 120B of the Indian Penal Code, 1860 (in short, IPC), have been quashed (in short, the predicate offence ) and (i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 156(3) of the Code of Criminal Procedure, 1973 (in short, Cr.P.C.) before Judicial Magistrate First Class, Wada, Maharashtra against respondent nos.1 to 3 alleging manipulation of shares of the Indiabulls Group to benefit their close associates and diverting crores of public money by funding their own entities. The complaint further alleged that respondent no.1-Company and its associates had helped one Jasol Investment and Trading Pvt. Ltd. for earning illegitimate profits by defrauding the investors. Various other allegations of collusion and connivance were also made. The Judicial Magistrate First Class, Wada vide an order dated 07.04.2021, directed the registration of FIR against respondent nos.1 to 3. Consequently, the predicate offen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the allegations contained in that petition was filed. 9. The High Court, thus, found that the issue fell within the four-corners of the principles laid down by this Court in the case of State of Haryana and others vs. Bhajan Lal and others 1992 Supp.(1) SCC 335. 10. The FIR and all the subsequent proceedings in the predicate offence having been quashed by the High Court, the ECIR registered by the appellant-ED, under Section 4 of the PMLA, has also been struck down by the Delhi High Court following the dictum of this Court in Vijay Madanlal Choudhary vs. Union of India and others (2022 (10) SCALE 577. 11. As noticed at the outset, both these judgments are under challenge in these appeals. 12. It is not in dispute that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration to the rival submissions, we do not deem it necessary to delve into the question of maintainability of these appeals. We say so for the reason that the appellant-ED has got efficacious alternative remedies traceable in law, to proceed against respondent nos.1 to 3 or any other person found to be involved in the alleged offences. The appellant-ED can, for such purpose, initiate appropriate independent proceedings notwithstanding the impugned judgments rendered by the High Courts of Bombay and Delhi. It seems to us that the appellant-ED, besides any other remedy as may be available in law, can resort to two independent proceedings such as: (i) approaching the Judicial Magistrate under Section 156(3) of Cr.P.C.; (ii) filing a review p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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