Court : Rajasthan
Reported in : 1996CriLJ1569; 1995(3)WLC531
..... judges of the supreme court no doubt held that if the promotors or those in charge of managing affairs of the company are found to have committed offences like cheating, criminal breach of trust, criminal misappropriation or alike, then it cannot be held that the only remedy to which the investor is entitled to pursue is under and in accordance with the provisions of ..... and causing wrongful loss to the investors. therefore, the learned judges held that if the screening on this question is not done properly at the stage of initiation of the criminal proceeding, in many cases, some disgruntled share-holders may launch prosecution against the promotors, directors and those in charge of the management of the company concerned and can paralyse the ..... the high court challenging the transfer of shares by public financial institutions to another company indicating that in such situation, the remedy is a civil one and not before the criminal court. in the case, supra, also, one mr. harish jagtiani, a practising advocate of the high court of bombay and policy holder under the life insurance corporation of india ..... learned judicial magistrate (economic offences), rajasthan, jaipur vide his order dated 27-8-1994 and the process was issued to the petitioners along with other co-accused persons. hence these criminal misc. petitions for quashing the order taking cognizance and issuance of processes.8. in this petition, the petitioner, dilip s. dahanukar has given his background by stating that he is .....Tag this Judgment!
Court : Supreme Court of India
Reported in : 1993(2)BLJR881; 77CompCas356(SC); 1993CriLJ2888; 1993(1)Crimes1132(SC); JT1993(2)SC523; 1993(2)SCALE266; (1993)3SCC54; 2SCR699; Supp54SCR3
..... charge of the management of such companies. but, if the promotors or those in charge of managing affairs of the company are found to have committed offences like cheating, criminal breach of trust, criminal misappropriation or alike, then whether the only remedy to which the investor is entitled is to pursue under and in accordance with the provisions of the companies act? the persons ..... the penal code has been disclosed on the materials produced before the court. if the screening on this question is not done properly at the stage of initiation of the criminal proceeding, in many cases, some disgruntled share-holders may launch prosecutions against the promotors, directors and those in charge of the management of the company concerned and can paralyse the ..... provisions of the companies act which are meant to cover such situations and to protect the interest of share-holders, a prosecution has been launched against the appellants before a criminal court for offences under the penal code. it was pointed out that in view of section 69 of the companies act all moneys received from the applicants for shares have ..... is not an essential ingredient; the concerned statue imposes a duty on those who are in charge of the management, to follow the statutory provisions and once there is a breach or contravention, such persons become liable to be punished. but for framing a charge for an offence under the penal code, the traditional rule of existence of mens rea is .....Tag this Judgment!
Court : Guwahati
..... the language of the statute to indicate that such was the intention. section 181, clause (2) contains intrinsic evidence of its exclusive character. in regard to the offences of criminal breach of trust & criminal misappropriation, to avoid difficulties in cases where an act which forma part of the offence is committed at one place & another which completes it at another place, the court ..... by this clause, for if section 179 can apply only where the consequence is an ingredient of the offence itself, as held above, it would not cover oases of criminal breach of trust or of criminal misappropriation. in such cases the property is received or retained & then is dishonestly misappropriated. the offences are completed as soon as dishonest misappropriation, disposal or use, etc. ..... are no ingredients of the offence. according to him, the case is covered by section 181, clause (a), cri. p.c. which provides that:the offence of criminal misappropriation or of criminal breach of trust may be inquired into or tried by a court within the local limits of whose jurisdiction any part of the property which is the subject of the offence ..... combined together constitute an offence which is the subject matter of inquiry or trial.26. this, however, dots not decide the question. if the section applies to cases of criminal breach of trust, it will have to bo soon whether the act complained of & its consequences taken together constitute the offence. but before going into this question, it is necessary to .....Tag this Judgment!
Court : Kolkata
Reported in : II(1997)DMC69
..... is sure to suffer mental pain and anguish to find that even his mother was also made an accused in the criminal case on unsubstantiated allegations of offences like criminal breach of trust, criminal misappropriation and cheating. it is true that the criminal case filed against the husband in which the summons has been issued under section 420, i.p.c. is still ..... learned court below was justified in decreeing the suit on the ground of mental cruelty in view of the fact that unsubstantiated allegations regarding criminal offence of cheating, criminal breach of trust and criminal misappropriation were made in a criminal court by the wife against the mother of the husband and also unsubstantiated allegations were made that the husband was a drunkard and was ..... his parents in presence of the wife and seized articles and ornaments. the learned court below has recorded in the impugned judgment that the allegations of cheating, criminal breach of trust and criminal misappropriation as made by the wife against the mother of her husband in the petition of complaint were not even substantiated prima facie and that is why the ..... on such unsubstantiated allegations would no doubt constitute cruelty on the part of the wife. there is no gain-saying that filing of a criminal case on unsubstantiated allegations of offences of cheating, criminal breach of trust and criminal misappropriation is sure to cause humiliation and mental agony to the husband.7. is is of course submitted on behalf of the wife .....Tag this Judgment!
Court : Patna
..... of the four accused-persons, the investors have been swindled out of the money. with respect to all the offences relating to theft, dacoity, criminal breach of trust, criminal misappropriation, cheating, etc., all within the ambit of chapter xvii of the i.p.c., it is always open to the victim to file a ..... no case is made out under sections 406 and 120b of the i.p.c. in his submission, in order to establish the charge of criminal breach of trust within the meaning of sections 405 and 406, i.p.c., there must be entrustment of property with the accused, or he may have dominion ..... swindle money. in the present proceeding, the validity of merger in terms of the companies act is not in issue, but acts of criminal breach of trust, cheating, all as acts of conspiracy. the transfer of the jehanabad branch of the finance company to the leasing company was itself part ..... cheat was from the very inception by starting such illegal organisations and duping people to earn money from them illegally which is the result of a criminal conspiracy. a criminal conspiracy inherently involves premeditation with which, according to the allegations, it had commenced. a case under section 420, i.p.c. is prima ..... 1956, there cannot be merger of a branch of the company into another company. the contention on this score is wholly unmerited, inasmuch as in all criminal acts law is thrown to the winds. the petition of complaint clearly alleged that the companies have been illegally incorporated, and are the result of a .....Tag this Judgment!
Court : Delhi
..... % 1. order 23.09.2013 in the above-captioned eight petitions, quashing of fir no.505/2005 registered at p.s. defence colony, delhi for the offences of criminal breach of trust, criminal misappropriation, forgery, etc. and fir no.511/2005 registered at p.s. connaught place, delhi for the aforesaid offences, is sought by petitioners-morgan securities & indo rama ..... securities appellate tribunal's judgment of 29th august, 2011, finding the transaction in question to be valid, it can be unhesitatingly concluded that neither the offence of criminal breach of trust nor of criminal misappropriation or of being in possession of stolen shares or of forgery, etc. is prima facie made out. infact, it is nowhere spelt out in the firs ..... , it was asserted that fraudulent transfer of shares by petitioners-accused clearly attracts the ingredients of offences of criminal breach of trust, misappropriation, forgery, etc.9. on the contrary, it was asserted with much vehemence by learned counsel for petitioners that breach of contract is by respondentcomplainant which gives rise to a purely civil dispute and does not entail any ..... criminality. during the course of hearing, attention of this court was drawn by petitioners' counsel to clause 4 (iii), clause 7 .....Tag this Judgment!
Court : Supreme Court of India
..... .29) replying to the arguments of the appellants that it was a civil dispute, mr. chaudhary argued that fir/final report clearly depicts that there is sufficient evidence of cheating, criminal breach of trust/criminal misconduct, conspiracy and destruction of evidence against the accused persons, therefore, it was not merely a civil case and, thus, the authorities have rightly registered the fir and filed ..... in accordance with the said judgment.27) on merits, mr. chaudhary submitted that on the basis of final report and consequently the cognizance order a clear case of cheating/fraud criminal breach of trust/criminal misconduct/usurpation of public land worth crores of rupees/loss to state exchequer is made out against the accused persons. hence, no cogent grounds exist for quashing of ..... , we are eschewing the discussion as to whether chargesheet is result of mala fide or political vendetta, since we feel that, ex facie, no case of cheating/fraud or criminal breach of trust is made out. however, at the same time, it would be necessary to point out that in the proceedings filed by the appellants under section 482 cr.p.c., ..... apart from furnishing a cause of action for seeking remedy in civil law, may also involve a criminal offence. as the nature and scope of a civil proceeding are different from a criminal proceeding, the mere fact that the complaint relates to a commercial transaction or breach of contract, for which a civil remedy is available or has been availed, is not by .....Tag this Judgment!
Court : Karnataka
Reported in : 2001CriLJ4293
..... be investigated by spe. in exercise of this power, the central government issued a notification on 7-9-1989 specifying the offences. amongst several offences, ipc offences including cri breach of trust, criminal mis-appropriation, offence under prevention of corruption act 1947 and 1988 are included. attempts, abetments, conspiracies in relation to the specified offences are also brought within the purview of ..... management had shown total lack of prudence and acted negligently while handling precious money of the depositors. the registrar then observed that the committee of management was guilty of 'criminal breach of trust and negligence'. the managing director was directed to examine each case of loan sanctioned wherever it was overdue and to take necessary action to prosecute the erring member of ..... matter of the discussion in that case.14. the last submission of the learned counsel for the respondent is that there is no material before the state government that any criminal offence has been committed by the respondent and there was failure on the part of state government to apply its mind to this crucial aspect. it is pointed out ..... 38, 96-97 dated 11-11-1996 under the provision of the prevention of corruption act, 1988 or any other law within the whole state of karnataka and to launch criminal prosecution against concerned. the learned single judge did not go into the merits of the contentions raised as regards the validity of the notification. however, the notification dated 10- .....Tag this Judgment!
Court : Allahabad
Reported in : 2002(3)AWC1926
..... of trust, criminal mis-appropriation and other offence and if they are found prima facie guilty, they must be charge-sheeted and if found guilty given harsh punishment. we may mention that the ..... the banks in cooperative sector and other banks and institutions are defaulting. the scandal of u.t.i, is well known. this state of affairs discloses that a large scale criminal breach of trust has been committed by high-ups, who have defrauded the people, and the r.b.i. seems to be lethargic in taking action against them. 11. we direct that ..... against the directors and all those, who are guilty in bungling about such state of affairs in the banaras state bank ltd. a c.b.i, enquiry must be instituted for criminal breach .....Tag this Judgment!
Court : Jharkhand
..... .a.no. 1465 of 2016, the informant-dr.s.c.dash, registrar, kolhan university, chaibasa has alleged that petitioner has defalcated the college funds, manufacturing of forged documents, criminal breach of trust, criminal conspiracy and other criminal offences against dr. r.k.das and other employees of jamshedpur co-operative college, jamshedpur.5. it is alleged that under the orders of the vice-chancellor, kolhan ..... -13. in dcr, entries of 69 candidates only have been made and the collection from rest candidates have not been found in dcr. it further reveals that payments to private trust for advertisement was also made and the details of such payments are also given.9. further, in the year 2013 and 2014 an amount of rs. 1,11,255/- was .....Tag this Judgment!