https://www.taxtmi.com/caselaws?id=308105 Inherent powers to quash criminal proceedings were declined because the complaint and charge-sheet, read as a whole, prima facie disclosed cheating, criminal breach of trust and conspiracy. Applying settled quashing principles, the Court found that allegations of false assurances on share allotment and an IPO exit route, if taken at face value, amounted to cognizable offences and raised issues requiring evidence. The commercial nature of the transaction did not, by itself, negate criminality where wilful misrepresentation and dishonest inducement were pleaded. The cognizance order was left undisturbed and the prosecution was permitted to continue. en-us Tue, 01 Oct 2019 00:00:00 +0530 Tue, 30 May 2023 21:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308105 Inherent powers to quash criminal proceedings were declined because the complaint and charge-sheet, read as a whole, prima facie disclosed cheating, criminal breach of trust and conspiracy. Applying settled quashing principles, the Court found that allegations of false assurances on share allotment and an IPO exit route, if taken at face value, amounted to cognizable offences and raised issues requiring evidence. The commercial nature of the transaction did not, by itself, negate criminality where wilful misrepresentation and dishonest inducement were pleaded. The cognizance order was left undisturbed and the prosecution was permitted to continue. Case-Laws Indian Laws Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308105