- (1.) This is a petition under Section 397/401 read with Section 482 of the Code of Criminal Procedure filed by six of the accused persons in Complaint Case No. C/243/2012 under Sections 379/411/420/423/467/468/474/120B of the Indian Penal Code presently pending before the learned 14th Metropolitan Magistrate, Calcutta. By order dated 10th April, 2012 and 17th July, 2012 cognizance was taken against all the accused persons and process was issued. Aggrieved thereby the present accused persons as petitioners have taken out this Criminal Revisional Application numbered CRR 3629 of 2012.
(2.) The Opposite Party No.2 is the de facto complainant.
(3.) The brief facts of the case are as follows:- (i) The opposite party No.2 was the registered share holder in respect of 200 equity shares of Rs. 10 each bearing share certificate numbers and distinctive numbers respectively of Jindal Ferro Alloys Limited. (ii) That in the year 1996 the said 200 shares were misplaced/lost from the custody of the opposite party no.2. The incident was reported to the then Jindal Ferro Alloys Limited at its registered office in Delhi. The opposite party no. 2 also requested for nontransfer of the said shares in favour of third parties and, for issuance of duplicate shares in lieu of the said misplaced/lost shares. (iii) The opposite party No.2 was informed that one M/s Globe Stocks and Securities Limited (which is the accused no.1 in the criminal complaint) had claimed the said 200 shares and lodged the same for transfer in their favour. According to the O.P. No. 2, 100 shares out of the 200 shares were wrongfully transferred in favour of M/S Globe Stocks and Securities Limited. The O.P. No.2 alleges forgery in the transferred documents and further alleges that he has been cheated of his rightful ownership to the property in question, viz., 100 shares. (iv) The remaining 100 shares were also illegally and fraudulently processed by the accused no.1. M/s Globe Stocks and Securities Limited (for short M/s Globe Stocks) and the O.P. No. 2 alleges forgery and cheating on that score too. (v) The O.P. No.2 thereafter knocked on the doors of different fora for relief on account of the said 200 shares. The O.P. No.2 filed a complaint before the Consumer Disputes Redressal Forum against Jindal Strips Limited which, upon the merger and/or amalgamation with Jindal Ferro Alloys Limited, is presently styled as M/S Nalwa Sons Investment Limited. The said complaint was dismissed on 21st May, 2002. (vi) Thereafter the O.P. No.2 filed Civil Suit No. 142 of 2002 against Jindal Strips/ NSIL and M/s Globe Stocks & Securities Limited which was dismissed vide order dated 25th January, 2005 by the learned 3rd Civil Court (Jr. Division) at Howrah being Title Suit No. 142 of 2002. The subsequent Title Appeal preferred by the O.P. No.2 before the learned First Additional Fast Track Court, Howrah against the judgment dated 25th January, 2005 being Title Appeal No. 32 of 2005 was also dismissed on 25th January, 2010. (vii) The O.P. No.2 also carried the proceedings in respect of the selfsame shares in question before the Company Law Board at Delhi being Company Petition No. 13/111/10. The learned Company Law Board vide its order dated 28th February, 2011 directed Jindal Strips / NSIL to cancel the transfer of the shares in question in favour of any third Party and issue fresh share certificates in favour of the O.P. No.2. (viii) The order of the learned Company Law Board dated 28th February, 2011 was challenged before the Hon'ble Delhi High Court being Company Appeal (SB) No. 15 of 2011 and stay was granted of the order dated 28th February, 2011 vide order dated 06th April, 2011. The petitioners annex the copies of the orders as passed from time to time in CRR No. 3629 of 2012. (ix) Similarly, the Hon'ble High Court of Punjab and Haryana vide order dated 29th April, 2011 in Company Appeal No. 14 of 2011came into seisin of the share dispute between O.P. No.2 and M/s Jindal Strips / NSIL ( M/s Nalwa Sons Investment Limited) being the erstwhile Jindal Ferro Alloys Limited. (x) It is pertinent to reiterate that during pendency of the dispute Jindal Ferro Alloys Limited was merged with Jindal Strips Limited which is presently known as M/s Nalwa Sons Investment Limited (jointly called Jindal Strips / NSIL). Subsequently Jindal Strips/ NSIL was demerged into two companies namely Jindal Strips and Jindal Steel and Power Limited (for short JSPL). (xi) According to the petitioners the said 200 shares stood transferred in favour of one Mr. Sunil Hardesmal Kanjwani on the basis of duly executed transfer deed dated 04th October, 1996 by the opposite party no.2. The said Sri Kanjwani became the owner of the said 100 shares bearing certificate and distinctive numbers with effect from 17th October, 1996. (xii) Further, according to the petitioners the Opposite Party No.2 wrote his first letter to Jindal Strips/ NSIL on 04th August, 1997, that is after a gap of one year from the date of transfer of shares of Jindal Strips/ NSIL in favour of Sri Kanjwani. Jindal Ferro Alloys Limited, the predecessor company of Jindal Strips/NSIL denies having received any letter from the O.P.No.2 on the subject prior to 4th August, 1997, although the Opposite Party No.2 asserts that the loss of the share certificates was first intimated by him to the company on 9th September, 1996. (xiii) Thereafter, on 24th June, 1998, Jindal Strips/ NSIL received the letter dated 19th June, 1998 addressed to its predecessor company Jindal Strips from M/s Globe Stocks informing Jindal Ferro Alloys Limited that the 100 shares of the opposite party no.2 are lying in their custody. (xiv) According to the said letter the shares were delivered to M/s Globe Stocks by one of their underbrokers namely, M/s Jwala Consultant. The said shares were lying non-transferred due to bad delivery. M/s Globe Stocks sought details of the O.P. No.2 from M/s Jindal Ferro Allows Limited for the purpose of dealing with him directly. (xv) It was further informed by M/s Globe Stocks that another 100 shares were also delivered to them by M/s Jwala Consultant. However, the said shares already stood transferred in favour of a third party. (xvi) On 17th November, 1998 M/s Jindal Strips/ NSIL wrote to the O.P. No.2 with copy to M/s Globe Stocks annexing copy of letter dated 19th June, 1998 and advising the O.P.No.2 to mutually sort out the matter of the 100 shares claimed to be lying in the custody of M/s Globe Stocks. (xvii) The petitioners allege that in spite of such information the O.P. No.2 never contacted M/s Globe Stocks or M/s Jwala Consultant. (xviii) The petitioners have furnished the correspondence with O.P. No.2 and from M/s Globe Stocks by way of annexures to CRR 3629 of 2012. (xix) In the above back drop the petitioners allege that after a delay of 14 years from the purported loss/misplacement of the shares, the O.P. No.2, after exhausting his remedies before several fora, filed the Complaint Case No0. C/243/2012 before the learned Additional Chief Metropolitan Magistrate at Kolkata. In the said complaint, along with the petitioners, 14 other persons were arrayed as the accused including M/s Globe Stocks, as the accused No.1. (xx) The said complaint was transferred to the Court of the learned 14th Metropolitan Magistrate, Kolkata who took cognizance of the same vide order dated 10th April, 2012 and issued process vide order dated 17th July,2012 under Sections 379/411/420/423/467/468/474/120B of the Indian Penal Code. (xxi) Aggrieved thereby the present petitioners have filed CRR 3629 of 2012 praying for quashing of the proceedings.;