SHIB SADHAN SADHU, J. - (1.) THE petitioners by means of the present petition under Article 227 of the Constitution of India seek to quash/set aside the entire proceedings of G.R. Case No.1567 of 1997 under Section 420 of the Indian Penal Code pending before the Court of Learned Metropolitan Magistrate, 22nd Court, Calcutta including the order dated 19th March, 2014.
(2.) AN F.I.R. was lodged by P.Halder, Inspector of Police, C.B.I. : SPE : SCB : Calcutta against the present petitioners herein and unknown others on 30.06.1995 for the offence punishable under Section 120 B read with Sections 420/468/471 IPC. As per the F.I.R. an information from a reliable source was received to the effect that during the year 1992 -93 Sri Y.C. Bhandari, Chairman/ Director, Natural Agro Products Ltd., 10 Clive Row, Calcutta -1, a Public Limited Company had entered into a criminal conspiracy with unknown others and in turn of the said conspiracy they had launched a Coconut Plantation Scheme named 'Kalpavriksha Yojana' and fraudulently and dishonestly induced the public to invest their money in the above mentioned scheme by giving them offer that after purchase of minimum two coconut trees @ Rs.300/ -, an investor will be provided with a Cash Certificate from a Nationalized Bank of which maturity value after six years would be same as of investment amount and also will get a return of the amount as much as invested amount through a Nationalized Bank after the completion of first six years to next 20 years.
(3.) IT was further revealed that the aforesaid accused persons had managed to receive a sum of Rs.5,78,100/ - from the public under the aforesaid scheme of the company by misutilising the services of Central Bank of India misused the same amount for their personal gain by manipulating/forging relevant documents like Specimen Signature Register, Application Form etc. It was further alleged that no plantation work was done by the accused under the Company's 'Kalpavriksha Yojana' as advertised. On the basis of such information the said Inspector lodged a suo moto complaint and C.B.I./SPE/SCB Case No.RC 4/S/95 -Cal was registered and he took up the investigation and after conclusion of investigation charge -sheet was submitted against the present two petitioners. Thereafter the Learned Magistrate on 18.12.2007 on hearing both sides and on perusal of the materials framed charge under Section 420 of the IPC against both the accused persons and thereafter five (5) witnesses have been examined. On 14.03.2014 the Learned Assistant Public Prosecutor, C.B.I., Kolkata filed a petition under Section 321 of the Code of Criminal Procedure praying for withdrawal of the case. On hearing both the sides the Learned Magistrate rejected the petition and fixed date for further evidence. Feeling aggrieved against the same the present application under Article 227 of the Constitution of India was filed by the petitioners. Mr. Subhasis Panchal, Learned Advocate appearing on behalf of the petitioners contended that the C.B.I. instituted the instant case at the instance of two former Directors who were removed for committing various misdeeds and one of them has good relations with the then D.S.P., C.B.I. and collusively the instant case was initiated to destroy the Company and the petitioners. He further submitted that the facts stated in the FIR as well as the charge -sheet do not constitute any offence of cheating or fraud as alleged. The funds raised by the petitioners/Company under "Kalpoavriksha Yojana' was never received by the company or its officers but the same was directly deposited with the Central Bank of India and the Bank duly issued Cash Certificate to the Investors and so no case of cheating or fraud can lie against the petitioners. In accordance with the said scheme the company duly acquired, booked and purchased huge lands at Puri, Bhubaneswar and adjoining areas and made huge plantations of coconut trees and the deeds/ documents in respect of such lands were duly received by the C.B.I. but still they submitted the charge sheet falsely. Mr. Panchal further contended that the C.B.I. is not a person aggrieved and so they cannot start any case specifically when no investor did lodge any complaint against the petitioners. He contended yet further that the petitioners are being harassed for the last 20 years during which period only four witnesses out of forty four (44) C.S. witnesses have been examined. None of the witnesses examined so far has supported the case of the prosecution and therefore the continuation of the present proceeding would be an abuse of process of law and it would only cause undue harassment to the petitioners.;