TaxTMI 
TaxTMI 
2019 (9) TMI 481
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....strict Court, Delhi in C.C. No. 69A/1 under Section 420/34 IPC. 2. The brief facts stated are that Complainant (Respondent No.2) Apollo Finance Limited through its Constituted Attorney Mr. Navneet Prabhakar filed a complaint on 17.02.2002 under Section 420 read with Section 34, 120 B IPC against Accused No.1 M/s GSL (India) Ltd., Accused No.2 Sh. R.C. Bagrodia, Managing Director, Accused No.3 Sh. B.K. Ametha, Joint Managing Director and Accused No.4 (present petitioner) Sh. M.C. Jain, Director on the ground of concealing of the material fact before obtaining loan amounting to Rs. 25,00,000/- at 31% p.a. on 8th June 1996 from the complainant. 3. Present petitioner (Accused No.4) alongwith Accused No.2 and 3 in the month of June, 1996 a....
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....d persons played fraud upon the complainant and succeeded in cheating the complainant. 5. Subsequently, a Complaint was filed against the Accused persons and on 26.04.2003 Accused Persons were summoned as sufficient grounds were made to proceed against them under Section 420 read with Section 34 IPC. 6. Petitioner being aggrieved from the said Summoning Order filed the present petition on 17.05.2013. 7. Learned Senior Counsel Mr. Ramesh Gupta on behalf of the petitioner has submitted that the present petitioner was made Director of the accused Company on 30.12.1997 and he resigned from the said position on 31.12.2000. Therefore, petitioner was not a Director of the Accused Company on the date when the loan was taken or on the date ....
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....r is right and the present petition is liable to be dismissed. 10. The complaint filed by the complainant Apollo Finance Limited on 17.02.2002 is under Section 420 read with 34 and 120B IPC on the ground that accused persons i.e. Accused No.1 M/s GSL (India) Ltd., Accused No.2 Sh. R.C. Bagrodia, Managing Director, Accused No.3 Sh. B.K. Ametha, Joint Managing Director and Accused No.4 (present petitioner) Sh. M.C. Jain, Director while approaching Complainant for inter-corporate loan of Rs. 25 Lakh did not disclose that Accused Company is already undergoing winding up proceedings. Said fact was dishonestly and willfully concealed from complainant and complainant was induced to part with his huge sum of money, thus Accused Persons played fr....
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.... We hope you would have received all the other documents through our Delhi Office. Kindly arrange to send the Demand Draft for Rs. 25.00 at the earliest payable at Bombay. Thanking you, Yours faithfully, For GSL (INDIA) LIMITED Sd/- M.C. Jain PRESIDENT Encl.as above " 13. As per para 5 of the complaint, petitioner alongwith R.C. Bagrodia and B.K. Ametha represented Accused Company and approached the complainant in June 1996 at Complainant's Registered Office in New Delhi and requested the complainant for inter-corporate deposit of Rs. 25 Lakhs and did not disclose the fact that the Accused Company has already undergone into winding up proceedings. However, they misrepresented the fact that t....