S. ILANAHAI Vs. STATE OF MUMBAI

JUDGEMENT

(1.) "Does the inherent power of this Court, saved under Section 482 of the Code of Criminal Procedure, extend beyond the territorial limits of this Court so as to quash an F.I.R. registered within the territorial limits of another High Court ? and "whether the civil law concept of cause of action could be imported to criminal law ?" Primarily these questions and incidentally, whether the writ jurisdiction could be invoked for the said purpose, have arisen for consideration in this petition.

(2.) The petitioner is the Managing Director of a company known as M/s.Cetex Petrochemicals Limited having its business place at Manali, Chennai. For the purpose of expansion plans of the said company, the petitioner was in need of funds to the tune of Rs.75,00,00,000/-. The petitioner approached the 4th respondent for funding and finally an understanding was reached between the 4th respondent and the petitioner. As per the understanding, the 4th respondent will provide Rs.50,00,00,000/- as loan on condition that the petitioner shall obtain investment of Rs.25,00,00,000/- through equity.

(3.) The 3rd respondent is yet another company having its registered office at 168, Atlanta, Nariman Point, Mumbai and one Mr.Raju Bhimrao Shinde was working as a legal assistant in the said company. The Chairman of the said company is one Mr.Inderchand Jain. The said company is mainly dealing with providing loans / share capital from the banks and financial institutions to the companies who need loans / share capital.