Penal Code, 1860–Secs. 420, 406 & 120B–Prize Chits & Money Circulation Schemes (Banning) Act, 1978–FIR for the offence–Prayer for quashing–Allegation that the petitioners suggested to invest the money in their company and assured that the company will provide 5% dividend–Neither the good return was given nor the amount was refunded– Present case is not an isolated case and other criminal cases of similar nature have been registered in Mumbai which smaks deep rooted conspiracy of the petitioners in misappropriating money of investors–Interference declined.
