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Judgment
B.N. Karia, J
Mr. Akash Singh, learned advocate states that he has received instructions to appear for and on behalf of the respondent no.2 and sought permission
to appear on behalf of the respondent no.2. Permission; as sought for; stands granted. He shall file his Vakalatnama as well as affidavit of the
respondent no.2 before the Registry. Registry shall accept the same.
By way of present application, the applicant has prayed to quash and set aside the FIR being CR No. 11211015200567 of 2020 registered with
Dhangadra City Police Station, District: Surendranagar for the offence punishable under Sections 406, 420, 120B of the Indian Penal Code and Section
3 of the Gujarat Protection Interest of Depositors (Financial Establishment) Act and further prayed to stay the further proceedings thereof till final
disposal of this application.
Heard learned advocate for the applicant.
It was submitted by learned advocate for the applicant that the complainant has received an invested amount with inter et up to March 2018. The
complainant has also accepted this fact in the complaint filed by her. If the applicant had a motive or an intention to defraud the investors then he
would never have given the benefits of the investments made by the investors and would have ran away with the investor's money at the very first
moment of starting the Nidhi Company. The applicant with an honest intention to conduct business and provide the investors with good services
incorporated the company. He had no malafide of defrauding the investors.
Issue requires consideration.
Notice returnable on 26th April 2021. Learned APP waives service of notice for and on behalf of the respondent No.1-State. Learned advocate Mr.
Akash Singh waives service of notice for and on behalf of the respondent No.2.