Yogesh Somabhai Patel vs State Of Gujarat
2021 Latest Caselaw 3292 Guj

        R/CR.MA/2910/2021                                    ORDER




      IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

       R/CRIMINAL MISC.APPLICATION NO. 2910 of 2021

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                            YOGESH SOMABHAI PATEL
                                    Versus
                              STATE OF GUJARAT
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Appearance:
ABHISST K THAKER(7010) for the Applicant(s) No. 1
MS RADHA A THAKER(11299) for the Applicant(s) No. 1
for the Respondent(s) No. 2
MR MANAN MEHTA, APP for the Respondent(s) No. 1
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 CORAM: HONOURABLE MR. JUSTICE B.N. KARIA

                               Date : 25/02/2021

                                ORAL ORDER

By way of present application, the applicant has prayed to

quash and set aside the FIR being CR No. 11191016210005 OF

2021 registered with Paldi Police Station, Ahmedabad City for

the offence punishable under Sections 406 and 420 of the

Indian Penal Code; Sections 66, 66D of the Information

Technology Act; Sections 23(e), 23(f), 23(g), 23(h), 23(i) of

the Securities Contract Regulation Act 1956; Section 15 (H)(A)

of the SEBI Act read with Section 12A of the Prevention of

Gambling Act and further prayed to stay the further

proceedings thereof till final disposal of this application.

Heard learned advocate for the applicant.

        R/CR.MA/2910/2021                                 ORDER



     While referring Section 26(1)         of the Securities and

Exchange Board of India Act, 1992 No. 15 of 1992, learned

advocate for the applicant has submitted that complainant in

the present FIR is not the Board and hence, FIR at all could not

have been registered and hence when the FIR is contrary to the

provisions of law, is liable to be quashed and set aside. Learned

advocate for the applicant further submits that name of the

present applicant is not named as an accused in the FIR and he

has no relation whatsoever with the ingredients of such FIR.

That, the applicant has valid licence issued by SEBI to deal with

such securities and he has been in the said business since last

22 years. That, there is lack of ingredients of Section 406 and

42o of Indian Penal Code in the FIR. In support of his

arguments, learned advocate for the applicant has placed his

reliance on the judgments passed by this Hon'ble Court in

Special Criminal Application (Quashing) No. 4780 of 2014;

Special Criminal Application (Quashing) No. 1841 of 2018

and Criminal Misc. Application No. 14099 of 2008. That, the

applicant is released on bail.

Issue requires consideration.

Rule returnable on 25th March 2021. Learned APP

R/CR.MA/2910/2021 ORDER

waives service of notice of rule for and on behalf of the

respondent No.1-State.

No charge-sheet shall be filed by the Investigating Officer

against the present applicant till the returnable date.

Registry is directed to send a copy of this order to the

concerned Police Station through Fax or Email forthwith.

(B.N. KARIA, J) K. S. DARJI