https://www.taxtmi.com/caselaws?id=406916 At the stage of framing charge, the court will not weigh the defence version if the material discloses a strong prima facie case or grave suspicion. On the complaint and witness statements, collection of money from investors on promises of high returns and non-refund supported charges of criminal breach of trust and cheating. The alleged investment certificates also indicated a money circulation scheme with reciprocal repayment linked to the plan period, bringing the conduct within the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. A prior report of the Competent Authority was not a precondition for FIR or charge, and the special depositor-protection statute did not bar ordinary criminal process at that stage. en-us Wed, 07 Apr 2021 00:00:00 +0530 Fri, 30 Apr 2021 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406916 At the stage of framing charge, the court will not weigh the defence version if the material discloses a strong prima facie case or grave suspicion. On the complaint and witness statements, collection of money from investors on promises of high returns and non-refund supported charges of criminal breach of trust and cheating. The alleged investment certificates also indicated a money circulation scheme with reciprocal repayment linked to the plan period, bringing the conduct within the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. A prior report of the Competent Authority was not a precondition for FIR or charge, and the special depositor-protection statute did not bar ordinary criminal process at that stage. Case-Laws SEBI Wed, 07 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406916