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VARUN KUMAR CHATURVEDI V. REPUBLIC OF INDIA case brief, Cheat Sheet of Law

Amity University - MumbaiLaw

Complaint was filed by Khirod Chandra Behera, s/o Jadumani Behera of Gudichandi Lane PS Bidanasi Cuttack against the directors of Magnum Financial Services Lucknow, Raja Bajpai, its promoter and others of Magnum Financial Services(petitioners) alleged that the petitioners promised higher rate of interest on the deposits than that offered by the nationalized banks.

Typology: Cheat Sheet

2017/2018

Uploaded on 10/13/2021

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OFFICE OF THE ADDITIONAL SOLICITOR GENERAL OF INDIA
(Ms. AISHWARYA BHATTI)
SUPREME COURT OF INDIA
***
VARUN KUMAR CHATURVEDI
V. REPUBLIC OF
INDIA
FACTUAL MATRIX
DATE PARTICULARS PAGE NO.
21.01.2002 Complaint was filed by Khirod Chandra Behera, s/o Jadumani
Behera of Gudichandi Lane PS Bidanasi Cuttack against the
directors of Magnum Financial Services Lucknow, Raja
Bajpai, its promoter and others of Magnum Financial
Services(petitioners) alleged that the petitioners promised
higher rate of interest on the deposits than that offered by
the nationalized banks, with an intention to cheat and
thereafter dishonestly and fraudulently induced him to
invest Rs 1.5 lakhs in the schemes of the company.
Payment was made in two installments i.e., Rs 1 lakhs and
Rs 50,000/- on 25.04.2012 and 28.08.2012 respectively in
the schemes of the company.
Further alleged that company cheated by not returning the
invested money. Further, it was stated by complainant that
during April 2013, the company returned him the invested
amount by issuing the cheque of Rs 1.5 Lakhs which could
not be realized as the account from which the check was
issued was already closed and that in the same manner a
number of people of Odisha have also been cheated to the
tune of Rs 2 Crores by petitioner’s company.
Accordingly the case was registered at PS Bidanasi, District
Cuttack by Economic Offences Wing, Bhubaneswar against
the
Petitioners, Raja Bajpai, and others of Magnum Financial
Services under sections 420/406/467/468/471/120-B IPC r/w
Section 4/5/6 of the Prize Chits and Money Circulation
Schemes (Banning) Act 1978 and Section 6 of Odisha
Protection of Interests of Depositors (In Financial
Establishment) Act, 2011. True copy of FIR dated
19.12.2013 is annexed and marked as ANNEXURE P/1 at Pg.
No 21 to 28.
Pg@18-20
02.01.2014 I.O. carried on the investigation after the case was registered.
Further, the petitioners were ordered to be in judicial remand
by
the Court of Judicial Magistrate 2nd, Civil court campus,
Lucknow. On 2.01.14 a remand report was submitted by
Pg@20-21
pf3
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OFFICE OF THE ADDITIONAL SOLICITOR GENERAL OF INDIA

(Ms. AISHWARYA BHATTI)

SUPREME COURT OF INDIA

VARUN KUMAR CHATURVEDI V. REPUBLIC OF

INDIA

FACTUAL MATRIX DATE PARTICULARS PAGE NO. 21.01.2002 Complaint was filed by Khirod Chandra Behera, s/o Jadumani Behera of Gudichandi Lane PS Bidanasi Cuttack against the directors of Magnum Financial Services Lucknow, Raja Bajpai, its promoter and others of Magnum Financial Services(petitioners) alleged that the petitioners promised higher rate of interest on the deposits than that offered by the nationalized banks, with an intention to cheat and thereafter dishonestly and fraudulently induced him to invest Rs 1.5 lakhs in the schemes of the company. Payment was made in two installments i.e., Rs 1 lakhs and Rs 50,000/- on 25.04.2012 and 28.08.2012 respectively in the schemes of the company. Further alleged that company cheated by not returning the invested money. Further, it was stated by complainant that during April 2013, the company returned him the invested amount by issuing the cheque of Rs 1.5 Lakhs which could not be realized as the account from which the check was issued was already closed and that in the same manner a number of people of Odisha have also been cheated to the tune of Rs 2 Crores by petitioner’s company. Accordingly the case was registered at PS Bidanasi, District Cuttack by Economic Offences Wing, Bhubaneswar against the Petitioners, Raja Bajpai, and others of Magnum Financial Services under sections 420/406/467/468/471/120-B IPC r/w Section 4/5/6 of the Prize Chits and Money Circulation Schemes (Banning) Act 1978 and Section 6 of Odisha Protection of Interests of Depositors (In Financial Establishment) Act, 2011. True copy of FIR dated 19.12.2013 is annexed and marked as ANNEXURE P/1 at Pg. No 21 to 28. Pg@18- 02.01.2014 I.O. carried on the investigation after the case was registered. Further, the petitioners were ordered to be in judicial remand by the Court of Judicial Magistrate 2nd, Civil court campus, Lucknow. On 2.01.14 a remand report was submitted by Pg@20-

I.O. in the court of SDJM Bhubaneswar against the Petitioners placing therewith the evidence against them and requesting to produce the Petitioners before the Court. 07.01.2014 Learned SDJM Bhubaneswar communicated about the remand of Petitioners to the Judicial Magistrate 2nd, Lucknow on the basis of remand report of I.O. Further, statement of an investor Mr. Anadi Samal was recorded against the petitioners company u/s 161 Cr.P.C , also It is pertinent to mention that the Petitioners were in judicial custody since 2014 at Lucknow and from the date of remand in Orissa. Pg@ 09.05.2014 Hon’ble Court passed an order in Writ Petition (Civil) No. 401 of 2013 and Writ Petition (Civil) No. 413 of 2013 directing the transfer of investigation of the cases registered against the Petitioners’ companies in different police stations in the State of West Bengal and Odisha from the State Police Agency to the Central Bureau of Investigation (CBI). A true copy of the order of this Hon’ble Court dated 09.05.2014 is annexed herewith and marked as ANNEXURE P/2 at Pg. No. 29 to 75. Pg@21- 05.06.2014 FIR No. RC.18/S/2014-SCB/Kol was registered by CBI against the Petitioners and others from Magnum Financial Services for the commission of alleged offences under sections 420/406/467/468/471/120-B/511 IPC r/w Section 4/5/6 of the Prize Chits and Money Circulation Schemes (Banning) Act 1978. The CBI took over the case on 21.06.2014. Also, Petitioners were in the custody of CBI from the date the CBI took charge of the case. true copy of the FIR dated 05.06.2014 is annexed herewith and marked as ANNEXURE P/3 at Pg. No. 76 to 82. Pg@22- 19.12.2016 Letter was sent to Judicial Magistrate, Junior Division, Lucknow requesting to spare the petitioners for their production before his Court in SPE No. 13/2014 by the Ld. CJM, CBI, Bhubaneswar. Pg@ 25.05.2017 A charge sheet was filed by the CBI against the Petitioners in SPE Case No. 13/2012 where the petitioners were charged with offences under sections 420/406/467/468/471/120-B IPC r/w Section 4/5/6 of the Prize Chits and Money Circulation Schemes (Banning) Act 1978 and Section 6 of Odisha Protection of Interests of Depositors (In Financial Establishment) Act, 2011. A true copy of the charge sheet dated 25.05.2017 is annexed herewith and marked as ANNEXURE P/4 at Pg. No. 83 to 95 Pg@23- 10.07.2017 Bail application before Ld. SPL. CJM (CBI) Court was filed by the petitioners which was further rejected by the court. Pg@ 02.04.2019 Bail application filed before the Hon’ble High Court of Orissa which was also rejected on the grounds of investigation being under progress and likelihood of tampering of evidence by the Pg@

ANNEXURE-P/13 at Pg. No. 145. 15.01.2021 The learned Special Public Prosecutor for the C.B.I. was allowed to furnish a list of witnesses from the witnesses yet to be examined, whose evidence might be relevant in respect of the Petitioners. ANNEXURE-P/14 at Pg. No. 146. Pg@ 26.02.2021 The learned Special Public Prosecutor appearing for the Respondent was directed to furnish the information regarding the amount available in the bank account of the Petitioners or in the company. Petitioners were willing to deposit the entire amount as per the charge sheet, the Hon’ble Court directed to file an affidavit to that effect. ANNEXURE-P/15 at Pg. No.147 to 148. Pg@29- 02.03.2021 An Affidavit dated 02.03.2021 was filed in BLAPL No. 511 of 2020 by the sister of the Petitioners in pursuance of the Order dated 26.02.2021 passed by the Hon’ble High Court of Orissa, wherein it was undertaken that the amount of Rs. 39,55,000/- would be deposited for being released on bail and remaining amount of Rs. 1 crore would be deposited in 10 equal monthly installments in the Trial Court on 10th of every month. ANNEXURE-P/16 at Pg. No. 149 to 151. Pg@ 17.03.2021 The Final Charge Sheet under Section 173 CrPC bearing No. 02/2021 was filed by the Investigation Officer, Mr. Javed Akhtar Ali, Deputy Superintendent of Police, Bhubaneshwar. ANNEXURE-P/17 at Pg. No. 152 to 176. Order passed by Special Chief Judicial Magistrate (C.B.I), Bhubaneshwar in S.P.E. No. 13 of 2014 on receipt of the final Charge Sheet No. 02/2021 dated 17.03.2021. Pg@30- 19.03.2021 Hon’ble Court has observed that a criminal court, exercising jurisdiction to grant bail/anticipatory bail, is not expected to act as a recovery agent to realise the dues of the Complainant, and that too, without trial. The case cited was Manoj Kumar Sood & Anr. v. State of Jharkhand in SLP(Cri) No. 1274/2021. ANNEXURE-P/19 at Pg. 183 to 186. Pg@31- 24.03.2021 Combined Affidavit was filed by the Respondent in compliance of the Orders dated 15.01.2021 and 26.02. passed by the Hon’ble High Court to obtain the details from the Court of Ld. Special Chief Judicial Magistrate of the witnesses examined, and to seek information regarding account balance of the bank accounts of the Petitioners and companies. ANNEXURE-P/ at Pg. No. 187 to 198. Pg@ 09.04.2021 Hon’ble High Court of Orissa in BLAPL No. 511 of 2020 on account of the Affidavit dated 02.03.2021 filed by the sister of the Petitioners, by virtue of which the Petitioners were directed to deposit Rs.40,00,000/- before the Ld. Trial Court. ANNEXURE-P/21 at Pg. No. 199 to 200. Pg@32- 29.04.2021 An Interlocutory Application bearing I.A. No. 445 of 2021 Pg@

was filed by the Petitioners requesting to modify the Order due to their inability to pay a lump sum amount of Rs.40,00,000/- as directed by the Hon’ble High Court in view of the Covid- pandemic, further requesting the Court to release the Petitioners on deposit of Rs. 10 lakhs, after which they would deposit the remaining 30 lakhs in 3 equal monthly installments. ANNEXURE-P/22 at Pg. No.201 to 205. 4.06.2021 An Affidavit-in-reply was filed by the Respondent in response to IA No. 445 of 2021 filed by the Petitioners. ANNEXURE- P/23 at Pg. No. 206 to 211 Pg@ 23.07.2021 Hon’ble High Court dismissed IA No. 445 of 2021 filed by the Petitioners. Pg@ 10.08.2021 Hence this present Petition. Pg@

JUDGMENT REASONING: