SANTOSH KUMAR DWIVEDI Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) Present petitioners have invoked the extraordinary jurisdiction of the High Court under Section 482 of the Code of Criminal Procedure and sought for an order to quash the charge-sheet being no.613/18 dated 14.09.2018 under Sections 3(1)(a) of the West Bengal Protection of Interest of Depositors in Financial Establishments Act, 2013 and under Sections 420/406/409/120B of the Indian Penal Code arising out of Sankrail Police Station, Case No. 76/2016 dated 29.01.2016 pending before the Learned Additional District & Sessions Judge, 3rd Court, Howrah.

(2.) The present petitioners are three FIR named accused persons. In their application under Section 482 of the Code of Criminal Procedure the petitioners have described themselves to be the former Directors of M/s. Rising Agrotech Ltd. of 35/1 Kali Temple Road, 3rd floor, Kolkata, 700026, and stated that they had resigned from the directorship of the company in the year 2010.

(3.) Opposite party no.2 Anup Kumar Roy on 29.01.2016, lodged an FIR with Sankrail Police station making allegations against the FIR named accused persons that they being the Board of Directors of Rising Agrotech Limited and Rising Tourism Limited, Arijit Tie up, Royal Consumer Business Pvt. Ltd., Royal Finance Pvt. Ltd., having their registered office at 35/1, Kali Temple Road, dishonestly misappropriated the entire fund of the investors/depositors of the company amounting to Rs.1,69,01,336.00/-. It was alleged in the said FIR that the FIR named accused persons by their wide ranging dishonest attractive publication relating to the investment and by giving false assurance that they would repay the principal amount with exorbitant rate of interest i.e. they would repay double amount after expiry of six years and four times of capital amount after expiry of ten years. They used to receive money from public. Depositors invested money and purchased the policies which were duly acknowledged by the said company and after the period of maturity of those policy certificates and recurring schemes of one year and three years the company did not make repayment of any amount to the depositors as per their commitment. It was also alleged that accused had accumulated a huge fund from the depositors by misleading them for misappropriating the entire fund for their personal gains.