Jayakrishnan T. Nair and Another vs State

Shiv Narayan Dhingra, J.—This application has been filed for grant of anticipatory bail to the Petitioners allegedly involved in a case u/s 406/420 IPC. The Petitioner No. 1 and complainant had incorporated a company at Delhi in the name and style of M/s. Novion Pharmaceuticals (India) Pvt. Limited having its registered office at New Delhi. The Petitioner No. 1 and complainant were business promoters and initial directors of the company. The complainant was incharge of operations of the company at Delhi while Petitioner No. 1 was looking after the operations of the company in Kerala. It seems that complainant and Petitioner No. 1 fell apart and decided to part company with each-other. There are varying averments of the complainant and Petitioner No. 1 in respect of obligations settled at the time of parting the company. However, the complainant made a complainant against Petitioner No. 1 that he forged certain resolutions of the company and on the basis of these forged resolutions, he placed orders to various drug manufacturers based in Himachal Pradesh and bought medicines for his wife''s company namely M/s Nitro Lifecare based in Kerala and sold these to distributors in Kerala in an illegal manner. On the other hand, contention of the Petitioner No. 1 is that the complainant, after parting with the company of Petitioner No. 1 could not run the show of his firm in Delhi and wanted to blackmail the Petitioner and wanted that Petitioner No. 1 should pay Rs. 49.00 lakh plus to him and therefore filed a false criminal case.

The Petitioner was called to Delhi by this Court and he had joined interrogation. The documents in possession of Petitioner were handed over to the Investigating Officer. The Investigating Officer of the case submitted that original of these documents were yet to be recovered whereas the Petitioner submitted that originals were not with him and he handed over originals to the complainant at the time of final settlement between the parties.

It seems that dispute between the parties was primarily concerning settlement of business rights and benefits. It is a fit case where the Petitioners should be granted anticipatory bail. The application is allowed. The Petitioners are directed to be released, in case of arrest by the IO, on each executing a personal bond in the sum of Rs. 1,00,000/- with one surety of equivalent amount to the satisfaction of I.O. The Petitioners shall join investigation as and when a written notice is given by the I.O. specifying date and time and the Petitioner shall allow the IO to inspect all records in their custody and possession.