Mere non-issuance of duplicate share certificates on misplacement did not indicate malice of Company

Avion Builders Pvt. Ltd. Vs State of West Bengal (Calcutta High Court) Conclusion: The criminal complaint case of cheating instituted against a company and its Directors over non-issuance of duplicate share certificates to the complainant was quashed as mere non-issuance of duplicate share certificates on misplacement by an alleged shareholder did not indicate malice on part of the company from the inception of the transaction and assessee acted with criminal intent at the inception on an anticipation that the shares would be misplaced at a subsequent stage. Held:  Assessee contended that opp...