RASIKLAL MOHANLAL GANGANI vs STATE & ANR

Judgment text excerpt

IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 23.06.2025 + CRL.M.C. 6012/2019 & CRL.M.A. 41145/2019 RASIKLAL MOHANLAL GANGANI .....Petitioner versus STATE & ANR .....Respondents Advocates who appeared in this case: For the Petitioner : Mr. Santosh Paul, Sr. Adv. with Mr. Sriharsh N. Bundela, Ms. Aditi Rai & Mr. Akshit Kumar, Advs. For the Respondents : Mr. S. Qammar, Adv. for R-2. CORAM HON’BLE MR JUSTICE AMIT MAHAJAN JUDGMENT 1. The present petition is filed challenging the order dated 28.09.2013 (hereafter ‘impugned order’), passed by the learned Trial Court, in CC No. 99/0109, and all consequential proceedings emanating therefrom. 2. By the impugned order, the learned Trial Court has summoned the petitioner for the commission of the offence punishable under Section 420 of the Indian Penal Code, 1860 (‘IPC’). 3. The brief facts of the case are as follows: 3.1. A complaint was filed by the complainant company/ Respondent No.2 (earlier known as M/s. Indiabulls Securities Ltd.) under Section 200 of the Code of Criminal Procedure, 1973 (‘CrPC’) against the petitioner for the offence under Section 420 of the IPC. It Signature Not Verified Signed By:SHIKHA SEHGAL CRL.M.C. 6012/2019 Page 1 of 18 Signing Date:26.06.2025 18:50:14 is the case of the complainant company that it is engaged in the business of stock broking and it provides stock trading services to its clients and thus acts as a transaction facilitator between its clients and the Bombay Stock Exchange and the National Stock Exchange. It is alleged that the petitioner was one of the clients of the complainant company and the petitioner had entered into a Member Client Agreement dated 03.01.2007 with the complainant company. The petitioner had been informed of the risks associated with shares and s