TaxTMI 
TaxTMI 
2011 (7) TMI 1135
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....u of Investigation (hereinafter called CBI) under Section 173 of the Code of Criminal Procedure, 1973 (hereinafter referred to as Cr.P.C.); and further to hand over all complaints made by various investors against the firms owned by her family members to the CBI for investigation. 2. Facts and circumstances giving rise to this case are as under: A. Petitioner indulged herself in commercial/business activities alongwith her husband late Deven Malviya, particularly in share broking in the name and style of M/s Disha Credit and Marketing Services alongwith one another partner Mr. Ajay Gandeja in Nagpur from 1998 to 2004. B. Late Mr. Deven Malviya, for certain reasons, shifted from Nagpur to Pune and started his own share b....
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....get Rs. 1,40,000/-in return of their investment of Rs. 1,00,000/- within a short stipulated period. But the investors could not get any amount. The accused persons in conspiracy with each other made a fraudulent scheme duping the innocent investors. F. The police filed a charge sheet against 13 accused persons including the petitioner after examining 23 witnesses. Seven accused have already been arrested and further investigation is in progress for obtaining the Forensic Science Laboratory report in connection with the seized Muddamaal (Crime property, e.g. Computer, CPU, Hard disk etc.). According to investigation held, so far, it is evident that the investors have been duped by petitioner's Firms for a sum of Rs. 60 crores. ....
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....even Malviya, the deceased and investigation is going on. However, according to the investigation so far conducted it appears to be a plain and simple case of suicide, may be because of pressure of investors in his commercial activities. He was facing large number of demands from investors who could not even get back the principal amount, what to talk of multiplied amount or compounded interest etc. as assured by their agents and collectors/franchises. Therefore, he could not stand the pressure of his commitments, and as the angry investors were reported to have forcibly demanded their money back and had seized the documents of sale of house and office properties from his maternal uncle at Rajkot. 5. The petitioner did not rende....
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....ed accordingly:- "Since according to the respondents charge-sheet has already been submitted to the Magistrate we direct the trial court before whom the charge- sheet has been submitted to exercise his powers under Section 173(8) CrPC to direct the Central Bureau of Investigation for proper and thorough investigation of the case. On issue of such direction the Central Bureau of Investigation will investigate the case in an independent and objective manner and it will further submit additional charge-sheet, if any, in accordance with law. The appeal stands disposed of accordingly." 9. In Gudalure M.J. Cherian v. Union of India, (1992) 1 SCC 397, this Court however, held that the power of directing investigation by CBI after charg....
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....mar Modi, (1998) 8 SCC 661). 13. Relying on the observations in Union of India v. Sushil Kumar Modi (supra), this Court in Rajiv Ranjan Singh `Lalan' (VIII) v. Union of India,(2006) 6 SCC 613, reiterated that the Court does not have the power to direct the CBI to investigate a matter after the chargesheet was filed. 14. The above three cases i.e. of Vineet Narain, Sushil Kumar Modi and Rajiv Rajan Singh were differentiated in a recent judgment by this Court in Rubabbuddin Sheikh v. State of Gujarat & Ors., AIR 2010 SC 3175, wherein this Court held:- "Therefore, it can safely be concluded that in an appropriate case when the court feels that the investigation by the police authorities is not in the proper direction and in ....
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....at it would lend the final outcome of the investigation credibility, such directions have been issued. 17. The case requires to be examined in the light of the aforesaid settled legal proposition. 18. Shri A.K. Sanghi, learned senior counsel appearing for the petitioner has tried to convince the court placing reliance on various newspaper cuttings filed as Annexures submitting that it could be a big scam of thousand of crores rupees, but we are not impressed by such submissions as the police could find out that the total investments by investors had been only about Rs. 60 crores. 19. In the instant case, the petitioner herself is the accused. A huge amount of Rs. 60 crores has been collected from innocent persons giving them false ....