TMI Blog1996 (12) TMI 296X X X X Extracts X X X X X X X X Extracts X X X X ..... the Court of the Special Magistrate (Economic Offences), Rajasthan, Jaipur. 2. The petitioner is a limited company incorporated and registered under the Act, and has its registered office in Punjab and corporate office at Delhi. On 7-5-1994, the respondent filed a complaint against the petitioner-company, its managing director, Shri Parmindar Singh, and three others in the Special Court of the Judicial Magistrate (Economic Offences), Rajasthan, Jaipur, alleging therein that she had purchased 200 shares of the petitioner-company on 18-3-1987, from Smt. Tripat Kaur, Smt. Lilawati and Shri B.A. Ramchandani (who all were made co-accused but were not summoned as such) through Shri Ghanshyam Dass Seth, a member of the Delhi Stock Exchange, a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de, at the initial stages of criminal proceedings this Court should confine itself to the main issues, namely, whether the impugned order amounts to abuse of the process of Court or continuance thereof perpetuates injustice in the facts and circumstances of the case. As it is by now well-settled that powers of this Court under section 482, are quite limited and extraordinary and should be exercised with great care and caution in the rarest of rare and exceptional cases only to prevent the abuse of the process of the Court or otherwise to secure the ends of justice, I would, therefore, confine myself to the two main issues, viz., the existence of a prima facie case for taking cognizance of the offence under section 113 and the competency ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of an offence at the initial stage is altogether different from cancelling the order of taking such cognizance at a subsequent stage. At the further stage, the Magistrate is to see whether the averments made in the complaint and the evidence procured in enquiry into such complaint disclose the commis- sion of any offence or not. At the later stage, the Magistrate may consider the case from the angle of the accused who, after putting in appearance before the Court may bring such facts to the notice of the Courts as may justify the cancellation of the order of taking cognizance of the case by him. Section 204 of the Code, gives such powers to the Magistrate. It is, therefore, always proper for an accused to put up his grievance against an ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of offence under section 113 was alleged to have been made by a company which is actively engaged in business. In view of the expediency and interest of its business the petitioner-company collects money from the public at large by selling its shares. Transactions of sale and purchase of its shares by members of the public at large, at any time and at any place, are governed by the provisions of the very same statute(s) which govern its constitution, and the functioning of its busi- ness. Registration of the transferred shares is amongst the duties of the petitioner-company in the course of conducting its business according to the provisions of law applicable to its business. Once the petitioner-company and the law applicable to its funct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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