Dipakbhai Rajnikant Joshi vs State Of Gujarat
2021 Latest Caselaw 4323 Guj

        R/CR.MA/4695/2021                                     ORDER




      IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

       R/CRIMINAL MISC.APPLICATION NO. 4695 of 2021

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                        DIPAKBHAI RAJNIKANT JOSHI
                                  Versus
                            STATE OF GUJARAT
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Appearance:
MR PREMAL S RACHH(3297) for the Applicant(s) No. 1
for the Respondent(s) No. 2
MS. M.H. BHATT, APP for the Respondent(s) No. 1
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 CORAM: HONOURABLE MR. JUSTICE B.N. KARIA

                            Date : 17/03/2021

                              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/4695/2021 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 09.06.2021. Learned APP waives service

of notice of rule for and on behalf of the respondent ­State.

R/CR.MA/4695/2021 ORDER

Applicant is hereby permitted to request the learned Trial

Court concerned to adjourn the matter and same would be

considered by the learned Trial Court concerned in accordance with

law.

(B.N. KARIA, J) SUYASH