Delhi District Court
Share Shoppe vs Ved Paul on 4 September, 2008
C C no: 2273/1/06 Share Shoppe Vs Ved Paul 04.09.2008
Present: Counsel for complainant with AR.
Today the matter is fixed for orders on summoning. As per the complainant , the complainant is a unit of M/s H.B Portfolio Leasing Ltd., which is a duly registered Limited company under the provisions of India Companies Act, 1956. That Sh. Anil Kumar is the authorised representative of the complainant company who has been duly empowered vide Board Resolution dated 13.10.2006 passed in the meeting of Board of Directors held in the office of the company. That the complainant company was in the business of spot finance purchasing of shares debentures/units/public sector bonds/mutual funds certificates and scripts of various companies listed on the various stock exchanges in India. The accused was one of the customer of the complainant company and had approached the complainant company for selling shares possessed by him in his name. It is further averred by the complainant that for the purposes of selling shares accused was enrolled as a member of the customer club of the company and filled up the Empanelment Form no. V-6677 vide which the accused also indemnified the complainant in case of any liability arising out of sale of any instrument by the accused.
That on 06.12.1994 the accused visited the complainant to sell 100 shares of IPCL bearing Certificate No 515143 Reg. Folio NO. 86598 Distinctive NO. 214668148 to 214668247 for 100 shares. The accused filled up a sale order form for the same purpose giving the details therein. The accused again agreed to indemnify the complainant from any defect or deficiency resulting on his part in the sale of the shares conducted by him. On such representation of the accused the complainant paid him a sum of Rs 15,322/- as the agreed sale consideration and the accused handed over the share certificates in physical form along with duly signed transfer deeds to the complainant. The cheque no. 058359 for Rs 15,322 drawn on Punjab National Bank, New Delhi issued to the accused towards the sale consideration were cleared from the account of the complainant into the account of the accused. That when the said shares certificates issued by IPCL and sold by accused were lodged for transfer the same were rejected by the Registrars for the IPCL vide letter dated 04.05.1995.
-2-The Registrar for the IPCL informed that after verification of records they found that the signatures of seller differs on the transfer form and fresh transfer deeds with signatures according to the specimen lodged by the seller at the time of transfer/allotment be submitted by the complainant. When on repeated communication and requests the accused failed to supply the correctly signed fresh transfer deeds, the complainant wrote to the registrars of IPCL to mark stop transfer in their records pertaining to the above said shares sold to the complainant by the accused vide letter dated 12.06.2003. It is alleged by the complainant that accused had first sold the above said 100 shares of IPCL to the complainant and submitted wrongly signed transfer deeds to the complainant and thereafter with intention to commit cheating on the complainant had fraudulently made a complaint with the Registrars of IPCL and got duplicate Dematerialised shares issued from the Registrars for the IPCL in lieu of sold shares and cheated the complainant by fraudulently appropriating the sale price paid by the complainant.
Complainant has examined Sh. Anil Kumar, AR as CW-1 who has proved on record empanelment Form as Ex.CW1/2, specimen signatures record as Ex.CW1/3, copy of shares certificates as Mark C, original share transfer deed as Ex. CW1/5, Letters received from Registrars IPCL dated 04.05.1995 as Mark D. I have heard the arguments and perused the record. It is argued on behalf of the complainant that the accused has cheated the complainant and had got duplicate shares issued in his name by fraud.
From the allegations raised, documents placed on record and evidence adduced by the complainant, I am prima faciely satisfied that there is sufficient material to summon the accused u/s 415/420 IPC . The accused hence be summoned to face trial u/s 415/420 IPC for 20.11.2008 on PF/RC/Courier/Speed Post/Dasti.
(SUDESH KUMAR) MM:ND:4/9/08