Jitendra Kumar Keshwani Vs State of U.P. And Anr (Allahabad High Court)
Summary: The applicant filed an application under Section 482 of the Code of Criminal Procedure seeking quashing of the charge-sheet dated 06.09.2018, cognizance order dated 12.04.2019 and the entire criminal proceedings in Case No. 21416 of 2019, arising from Case Crime No. 160 of 2018 under Sections 420 and 409 of the Indian Penal Code, Police Station Hariparvat, District Agra, pending before the Chief Judicial Magistrate, Agra.
The FIR was lodged by opposite party no. 2 alleging that the applicant was the Director/proprietor of M/s LDK Share and Securities Pvt. Ltd., a licensed share broker. Opposite party no. 2 and his younger brother Ram Kumar Sharma maintained Demat Accounts with the Stock Holding Corporation of the applicant and traded in equity shares through him. According to the FIR, after shares were sold, the applicant did not make payment of the amount claimed to be due despite repeated demands and a legal notice dated 30.11.2017. The amount claimed was Rs. 9,69,450/-. The FIR alleged breach of trust and misappropriation and sought recovery of the amount.
The police investigated the matter and filed the charge-sheet dated 06.09.2018, upon which the Chief Judicial Magistrate took cognizance on 12.04.2019.
