- (1.) Both these revisional applications have been preferred for setting aside the order dated 28.05.2008 passed by the learned Metropolitan Magistrate, 11th Court, Calcutta in Case No. C/2220 of 2002 under Section 406, 406/511/34 IPC.
(2.) Since the aggrieved parties have filed two separate revisional applications against the aforesaid common order both the revisional applications are taken up for consideration together for the sake of convenience and brevity.
(3.) In CRR 2788 of 2008 preferred by the National Stock Exchange of India Limited and National Securities Clearing Limited both the companies have claimed that they are public limited companies incorporated under the provisions of Companies Act, 1956 with the object of facilitate, assist, regulate and manage in the public interest relating to securities of all kinds to provide specialized, advanced, automated and modern facilities for treading, clearing and settlement of securities and to ensure trading in a transparent, fair and open manner. Their objects include support, develop, promote and maintain a healthy market in the best interest of the investor, agent, public and the economy. It is a stock exchange duly recognized by the Central Government/ Securities and Exchange Board of India under Section 4 of the Securities Contracts (Regulation) Act, 1956 (ACRA). The petitioner no. 2 is a wholly owned subsidiary of the petitioner no. 1 undertaking the cleaning and settlement of transactions done by the petitioner no. 1. Because of inimical relation the opposite party no. 2 Surendra Kumar Jain, Director, Rusoday Securities Limited filed written complaint against nine accused persons including the two petitioners herein before the learned Metropolitan Magistrate, 11th Court at Kolkata which is registered as CC No. 2220 of 2002 under Section 406/511/34 IPC. In the said complaint case the accused petitioners filed an objection petition dated 14.02.2006 praying for their discharge under Section 245(2) Criminal Procedure Code By order dated 28.05.2008 the learned Magistrate has allowed the petition in part and discharged seven accused persons namely, accused no. 3 Mr. Ravi Narayan, Managing Director of National Stock Exchange India Limited, accused no. 4 MR. Raghavan Patram, Director of National Securities Clearing Corporation Limited, accused no. 5 Ms. Chitra Ramkrishnan, Directof of National Stock Exchange of India Limited, accused no. 6 Mr. J Ravichandra, Vice President and Company Secretary, National Stock Exchange of India Limited, accused no. 7 Mr. M. L. Sonejee, Senior Vice President, National Securities Clearing Corporation Limited, accused no. 8 Mr. R. Sundarama, Assistant Vice President, National Stock Exchange of India Limited and the accused no. 9 Mr. D. Datish Kumar, Assistant Vice President of National Stock Exchange of India Limited and rejected the prayer for discharge made by the two petitioners. Being aggrieved by and dissatisfied with such order the present two petitioners have preferred this revisional application being 278 of 2008. On the contrary the opposite party no. 2 filed another revisional application under Section 397/399 Criminal Procedure Code being Criminal Revision No. 101/2008 before the learned Chief Judge, City Sessions Court, Calcutta for setting aside the said order passed by the learned Court below discharging seven accused persons cited above impleading them as opposite party nos. 1 to 7.;