- (1.) Prayer in this writ petition filed under Articles 226/227 of the Constitution of India by the petitioner is for directing the respondents to have further investigation in the cases registered against him by the Central Bureau of Investigation (CBI) and also that immediate action should be taken in case of arrest of the petitioner in terms of Section 88 of the Code of Criminal Procedure (in short, "the Code").
(2.) Brief facts as narrated in the petition may be noticed. M/s Incan Mutual Benefit Limited, Lucknow (hereinafter referred to as "the Company") was constituted on 3.10.1991. The petitioner continued to be a shareholder/member of the company. He resigned from the Board of Directors of the Company w.e.f 1.4.1997 in order to pursue higher studies. The resignation was accepted and received by the Registrar of Companies on 17.4.1997, Annexure P.1. The petitioner also vacated the rented accommodation allotted by the company at Lucknow and shifted to United States of America. He completed his studies in the year 1998-99 and started residing in Delhi. The Company was taken over by other members who were inducted as Directors, Managing Director, Vice Chairman etc. The main person who was handling the affairs of the company was Col. B.M.Bhagi, who was Managing Director of the Company since 25.4.1995 and was later re-designated as Vice chairman of the Company. The company ran into dire financial crisis in the year 1999. As a result, some of the member-shareholders/investors proceeded against the Company under Section 433(e) of the Companies Act, 1956 for winding up by filing a petition in the Hon'ble Allahabad High Court. The Hon'ble Allahabad High Court directed winding up of the Company vide order dated 15.1.2003. Official Liquidator has been appointed and he continued to hold the assets of the Company. A direction was also given by the Hon'ble Allahabad High Court to register a case with regard to the operations of the Company by the Central Bureau of Investigation for offences under sections 406, 420 IPC read with Section 120-B IPC. The petitioner was also asked to join the investigation. He cooperated with the investigation for more than four years and was thereafter taken into custody by the CBI. The petitioner remained in custody for a period of six months and was granted bail by the Additional Sessions Judge, Lucknow vide order dated 11.4.2008. Before the petitioner could be released, he was taken into custody by the Police of Police Station Morinda, District Ropar in case FIR No.10 dated 4.2.2000 under sections 420, 406, 120-B IPC. Bail was granted to the petitioner in the said case by this Court vide order dated 19.9.2008, Annexure P.8. Similarly, such like cases were also registered in different districts of Punjab and Chandigarh. The petitioner was finally released from jail on 3.3.2010. The petitioner prays for thorough investigation into the cases registered against him. He also prays for immediate action in case of his arrest in terms of section 88 of the Code.
(3.) Learned counsel for the petitioner submitted that proper investigation has not been carried out by the CBI and on that basis, the challan presented is cryptic. He made a prayer that in order to do justice and also to show that the petitioner was neither Managing Director nor Chairman of the Company, further fair and impartial investigation should have been conducted so that justice would have been done to the petitioner and in case if there was some material, the petitioner could be penalized otherwise acquitted. He further submitted that in terms of section 88 of the Code, the respondents may be directed to take immediate action in case of any of the criminal proceedings against the petitioner which are pending or may be initiated against him.;