Suresh Chand vs The Govt. Of Nct Of Delhi on 4 August, 2014
In Sat Narain & Ors. Vs.
State of Punjab & Ors. 1974 CRI.L.J. 232 (V 80 C 89), it was held that
Crl. A. No. 16/09; Suresh Chand Vs. The Govt of NCT of Delhi Page 8 of 10
it cannot be denied that the money which was deposited with the
company was to be utilised by the company as its own money by giving
it to other members as a loan on higher interest. The depositors could
get the equivalent amount back after the end of 50 months along with
interest at 6 per cent. The money was not to be returned in specie and
could not be termed as entrusted to the company. In such a situation,
only a civil liability is created and even if the allegations are accepted,
no case of criminal breach of trust within the meaning of section 405 IPC
was made out.