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TMI Blog2018 (10) TMI 1330X X X X Extracts X X X X X X X X Extracts X X X X ..... lass, Bhopal. 3. Brief facts which are relevant for the disposal of these petitions are that the non-applicant No.2/complainant Vinod Kumar Mishra filed a private complaint before the Judicial Magistrate, First Class, Bhopal averring that complainant opened one demat account and one share trading account to invest his savings in the shares, which were managed by the Asit C. Mehta (applicant of M.Cr.C. No.12184/12), Jaideep P. Vaidy (applicant of M.Cr.C. No.12591/12) and Sudhir Kala (who died during pendency of this petition). On 18/05/2005, in the demat account of the complainant there were 4,322 shares of various companies, out of which the complainant had sold shares worth of Rs. 12,32,908.71 of different companies and out of that amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd also admitted liability of Rs. 2,32,908.71 and thereafter gave cheques of Rs. 3,00,000/- to the complainant and applicants also re-transferred the shares in the Demat account of the complainant. But when complainant produced the cheques given by Sudhir Kala for encashment, all cheques were dishonoured. Thus, Sudhir Kala in connivance with applicant Asit C. Mehta and Jaideep P. Vaidya cheated the applicant and misappropriated the applicant's shares and money, so action be taken against them. 4. On that complaint learned JMFC, Bhopal recorded the statement of complainant under Section 200 of the Cr.P.C. and after hearing arguments by order dated 06/02/2012 took cognizance against the applicants and co-accused Sudhir Kala for the offences ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplicant Jaideep P. Vaidya is nowhere involved in any of the transactions of the complainant. The alleged transactions of shares had been done by coaccused Sudhir Kala the agent of the company, who ran his business under name and style of M/S Saksham investment. His office was situated at Metro Plaza Vitthal market Bhopal, MP. The applicants are nowhere involved in any of the transactions of the complainant. They further submitted that when applicant Asit C. Mehta Investment Interrmediates Ltd re-transferred the alleged shares in complainant's Demat account, he himself had written a letter to the applicants that applicants were left with no grievance. In the correspondence with the applicants complainant clearly stated that Mr Sudhir Kala h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company and its employees, for that he also had a demat account and a trading account in the applicant company. Complainant clearly averred that on 18/05/2005, in his demat account there were 4322 shares of various companies, out of which he had sold shares of different companies worth of Rs. 12,32,908.71 and out of that amount he had withdrawn a sum of Rs. 10,00,000/- and left the balance amount of Rs. 2,32,908.71 in his trading account for further purchase of shares. After aforementioned transaction 25 shares of Glaxosmithkline, 500 shares of I.T.C., 20 shares of Infosys and 100 shares of Pfizer remained in his demat account. He further averred that on receiving the account statement on 06/02/2010 he came to know that unauthorised trans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the person who was involved in the said transaction, at this stage it can not be said that applicants have no connection with the said transaction. It is the defence of the applicant, which require evidence to decide. So from the complaint prima facie offence under section 406 read with 120B of IPC is made out against the present applicants. 10. Although, some time later applicant company re-deposited the alleged shares in the demat account of complainant, but the offence of criminal breach of trust was made out on the very day when applicants sold shares from complainant's demat account without his permission. Thereafter, re-depositing the share in complainant's account would only help the company in avoiding its civil liability. But t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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