IN THE HIGH COURT OF JUDICATURE AT PATNA Cr.Misc. No.8518 of 1998 RAJENDRA PAL Son of Deshraj Sachdeva, resident of Mohalla-Chhoti Patandevi, P.S. Chowk Patna City, District-Patna. Versus 1.STATE OF BIHAR 2.Mahesh Kumar Agrawall Son of Shri Nath Mal Agrawall, proprietor of Agrawal Investment, Ist Floor, Sarraf Market, P.S. Chowk Patna City, District-Patna. ----------- 8 6/8/2009 From perusal of the complaint petition and the impugned order taking cognizance this much is clear that the complainant has purchased certain shares from the petitioner which on being presented for transfer in the name of the purchaser was not honoured by the Company on the ground of some fake transaction. It is, however, also clear that the complainant himself deals in share business and therefore whatever purchase by him is being made for its being retransferred or resold to his client can at best be a dispute purely civil in nature. That apart, there is no averment in the complaint petition that when such shares were sold by the petitioner to the complainant-opposite party no.2, either the petitioner had made any misrepresentation or such transfer of share to the persons whom the complainant had subsequently sold them could not be registered in their name on account of criminal intent on the part of the petitioner. Be that as it may, once this Court comes to a conclusion that subject matter of the complaint is infact a dispute of civil nature, capable of being resolved by the Security Exchange Board of India (SEBI) or a civil suit, continuance of 2 such prosecution must be held to be an abuse of process of the Court. Consequently, this application is allowed and the entire proceedings including impugned order taking cognizance in complaint case no. 408(C)/97, T.R. No. 1730/97 is hereby quashed. Notwithstanding quashing of the order taking cognizance, opposite party no. 2 will be at liberty to file appropriate civil suit for recovery of any amount from the petitioner if that is permissible under law. Abhay Kumar (Mihir Kumar Jha, J.)