TaxTMI 
TaxTMI 
2023 (4) TMI 1370
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....rd, Mr. K. Sudhan, learned counsel appearing for the petitioners and Mr. K. Balamurali, learned counsel appearing for the respondent and perused the materials available on record. 3. The respondent filed a private complaint under Section 200 of Cr.P.C. r/w Sections 24(1), 27 of the Securities and Exchange Board of India Act, 1992, against the petitioners alleging that the Government of India, after detailed consultations with the regulatory bodies, decided that an appropriate regulatory frame work for regulating entities, which issue instruments like Agro bonds, Plantation bonds, etc., has to be put to place. Hence, in the year 1999, the respondent notified regulations for regulating the activities of Collective Investment Scheme Companies....
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....sdiction to appreciate the statement of the witnesses and record a finding that there were inconsistencies in their statements and, therefore, there was no prima facie case made out against respondent No.2. In our view, this could be done only in the trial while deciding the issues on the merits or/and by the Appellate Court while deciding the appeal arising out of the final order passed by the Trial Court but not in Section 482 Cr.P.C. proceedings. 13.In view of the foregoing discussion, we allow the appeal, set aside the impugned order and restore the aforementioned complaint case to its original file for being proceeded with on merits in accordance with law. 6. The Hon'ble Supreme Court of India while dealing in respect of the v....
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....into the validity of the evidence available. All that the Court should see is as to whether there are allegations in the complaint which form the basis for the ingredients that constitute certain offences complained of. The Court may also be entitled to see (i) whether the preconditions requisite for taking cognizance have been complied with or not; and (ii) whether the allegations contained in the complaint, even if accepted in entirety, would not constitute the offence alleged. .............. 13. A look at the complaint filed by the appellant would show that the appellant had incorporated the ingredients necessary for prosecuting the respondents for the offences alleged. The question whether the appellant will be able to prove the a....