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3. W.P.No.14229 of 2015 has been filed by Viswapriya (India) Limited, formerly known as Viswapriya Financial Services and Securities Ltd., [hereinafter would be referred to as Viswapriya] for quashing the FIR in Cr.No.5 of 2013 that was registered on 21.10.2013 by the Deputy Superintendent of Police, Economic Offences Wing, for offences under Sections 120B, 406, 420 IPC and Section 5 of the TNPID Act.

4. It is indeed a sheer coincidence that, though Helios and Viswapriya have no relationship with each other, yet, they share a common Cr.No.5, but of course registered in different years. It is the specific case of the prosecution that, Helios and Viswapriya had collected deposits from public and on maturity, they failed to repay them, pursuant to which, on the complaint lodged by depositors, the aforesaid cases were registered against them for the offence under the TNPID Act along with IPC offences. At the outset, it is contended on behalf of Helios and Viswapriya that, the Deputy Superintendent of Police, Economic Offences Wing has no authority to conduct investigation under the TNPID Act and therefore, the very FIR deserves to be quashed. In support of this plea, the learned counsel for the accused submitted that, the power of Economic Offences Wing to conduct investigation for an offence under TNPID Act came for consideration before a learned single Judge of this Court in P.S.Chellamuthu v. The State [MANU/TN/1492/2008] Crl.O.P.Nos.21711 and 35339 of 2007 and this Court by order dated 04.12.2008, upheld the power of the Deputy Superintendent of Police, Economic Offences Wing to conduct investigation by referring to Sections 4 and 5 of the Code of Criminal Procedure. This order was taken to the Hon'ble Supreme Court in Special Leave to Appeal (Crl) No.53 of 2009 and the Hon'ble Supreme Court granted leave and passed the following order on 08.01.2010:

[emphasis supplied] Thus, prima facie the website and the Directors' Report of Helios belies their contention that they are not into the business of receiving deposits and that they will not come within the meaning of the word "Financial Establishment" under the TNPID Act.

51. As regards Viswapriya, admittedly, they are an incarnation of their previous avathar Viswapriya Financial Services and Securities Ltd., which name speaks for itself. Therefore, the contention of both the Companies that they cannot be brought within the ambit of TNPID Act are rejected.