Selective investigation of Economic Offence Wing betrays the faith of victims

Arvind Kumar Bahl Vs State of Maharashtra (Bombay High Court)

Bombay High Court held that Selective investigation of Economic Offence Wing (EOW) betrays the faith of victims. Accordingly, responsible persons for the wrongdoings should not be allowed to escape the process of law.

Facts- The applicant is an investor who had invested huge amount of Rs. 22,24,604/- through his broker namely India Infoline Commodities Limited (IICL) which was acting as Trading cum Clearing Member of NSEL.

It was alleged that the broker misrepresented that NSEL is extremely safe risk free and it could fetch good returns of about 15 % to 18 % per annum.

Pursuant to the default at NSEL platform in July 2013, one investor Shri Pankaj Saraf filed a complaint and based on it an FIR No.89/2013 was registered for the various offences of IPC and MPID Act.

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