Amaresh Roy, J. - (1.)This Rule was issued by my learned brother K. C. Sen J. upon an application for revision of an order of a learned Presidency Magistrate by which that learned Magistrate has committed the present petitioner Rameswar Daga along with another person named Haridas Mundra for trial in the City Sessions Court on charges framed against them for offences of cheating under Section 120B/420 I. P. C. and also for substantive offences under Sections 467 and 420 I, P. C. It may be mentioned that there were three accused persons named in the chargesheet submitted by the police, but one of them G. M. Robins has remained absconding and during the proceedings before the learned Magistrate under Section 2O7A Cr. P. C. only the present petitioner Rameswar Daga and the other accused Haridas Mundra were being proceeded against. Haridas Mundra was a Director of Jessop and Company. Limited. The absconding accused G. M. Robins was formerly the Secretary of Jessop and Company, Limited. Present petitioner Rameswar paga is a brother-in-law of Haridas Mundra and carries on business in the firm named of Rameswar Daga and Company.
(2.)Prosecution case is that in November 1955 Jessop and Company Limited purchased 3,00,000 ordinary shares of British India Corporation Limited from Rameswar Daga, Jessop and Company also purchased on 9th October, 1956, 25,000 shares of British India Corporation Limited through a firm named Ramanarayan Kayan and Brothers. These purchases were made at a total cost of Rs. 38,82,250/-. Subsequently, on 30th of October, 1956 and 31st October, 1956, there was a proposed sale of those 3,25,000 shares to Messrs. Sohanlal and Company who are a firm of share brokers. Towards the price of that sale Jessop and Company received a cheque for Rs. 96,153.75 nP. drawn by the said Messrs. Sohanlal and Company and again another cheque by the same firm for RS. 7,6.0,750/- on 8th November, 1956, on 9th November, 1956 a cheque for Rs. 8,95,000/-drawn by Haridas. Mundra himself, on 16th of November, 1956 a cheque for Rs. 8,90,600/- drawn by Tulsidas Mundra who is a brother of Haridas Mundra; on 21st November, 1956 a cheque for Rs. 2,23,750/- drawn by Rameswar Daga was given to Jessop and Company towards the money due as price for the sale of shares above mentioned, Then on 26th November, 1956 a cheque for Rs. 11 lakhs and odd drawn by Haridas Mundra was given to Jessop and Company towards that price. This last cheque drawn by Haridas Mundra was dishonoured, while all the other five cheques, mentioned above, including the cheque drawn by Rameswar Daga on 21st November, 1956, had been duly honoured. By the payments of money by cheques which were honoured Jessop and Company received Rs. 31 lakhs and odd and a sum of Rs. 7,80,817.94 nP. (erroneously stated in the order of the Magistrate as Rs. 7,70,817-15 as. o pies) remained due to Jessop and Company and by a letter dated 27th May, 1957 Sohan-lal and Company had confirmed that balance to be due; that letter; however, has been repudiated by Sohanlal as having been forged. It is the prosecution case that it was the scheme of Haridas Mundrai to acquire those shares of British India Corporation Limited of which he was a Director also and for working out that scheme he had entered into a conspiracy with the present petitioner Rameswar Daga and G. M. Robins and also other person or persons unknown in pursuance of which conspiracy he induced Jessop and Company Limited to purchase those shares of British India Corporation Limited and had those shares sold by Jessop and Company Limited to Messrs. Sohanlal and Company which firm was acting in the matter as 'Benamdar' only of Haridas Mundra without any knowledge of the scheme of conspiracy to cheat by acts of forgery and cheating committed against Jessop and Company Limited.
(3.)In the proceeding before the learned 'Magistrate under Section 2O7A Cr. P. C. Sohanlal was a prosecution witness. In his deposition before the learned Magistrate it has transpired that Haridas had paid to Sohanlal and Company large sums of money, Rs. 3,96,000/- by a cheque drawn by Haridag Mundra on 2nd November, 1956 and Rs. 7,60,750/-by another cheque drawn by Haridas Mundra on 9th November, 1956. According to the prosecution these payments show that the purchase of the shares from Jessop and Company Limited in the name of Sohanlal and Company was really purchased, by Haridaa Mundra in benami.