2025 (5) TMI 934

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....s payout for sale of certain shares in his favor on superdari subject to him furnishing a Guarantee of the same amount, before the Magistrate Court. 3. The appellant and respondent no. 2 are both companies engaged in the trade of shares/securities and are registered with the BSE. On 07.08.2015, on a complaint made by the appellant (through its Managing Director), under Section 156(3) CrPC, an FIR was registered under Section 420, 120B of the Indian Penal Code (hereinafter 'IPC'). In this FIR, it was alleged that on 01.04.2013 the appellant received a phone call by a person impersonating himself as their client 'Brij Mohan Gagrani', to purchase 1 lakh shares of a company named 'Ashutosh Paper Mills Ltd. After the purchase was executed, the ....

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....as observed that the release of the funds will impact the rights of the appellant. The investigation was however, directed to be expedited. 7. Being aggrieved by the order of the revisional court, respondent no. 2 filed a Section 482 CrPC petition before the High Court. The High Court allowed this petition by impugned order dated 25.02.2025, and directed the release of the sale value of the shares in favor of respondent no. 2. Now the appellant is before us, assailing the above order. 8. We have heard both the sides and perused the material on record. 9. While allowing respondent no. 2's Section 482 petition, the High Court observed that the role of respondent no. 2 as being party to the fraud cannot be ascertained as of now. It was held....