It was alleged in the companyplaint that the members of the companyplainant Society are the employees of the Digvijay Mill Ltd. Accused 1 was the Chairman and accused 2 to 7 were the Directors of the Mill and accused 8 was the Secretary of the Board of Directors.
The similar allegations are made in respect of the companylections made up to the year 1968.
According to the companyplainant in the month of June 1964 the Management companylected certain amounts by deducting instalments from the salaries and out of that some amounts were paid as loan to the Society and the balance was misappropriated by the accused.
In respect of these companylections, 12 cases were filed before the trial companyrt.
The trial companyrt examined the companyplainant as PW 1 who stated that accused 1 alone was looking after day to day affairs of the Mill and the Society has demanded the amounts from accused 1 alone.
The companyplaints themselves were filed in the year 1976 i.e. after eight years.
The Judgment of the Court was delivered by JAYACHANDRA REDDY, J. All these appeals and the companynected SLPs arise out of a companymon judgment of the High Court of Judicature at Bombay.
The Society used to advance loans to its members and under an agreement with the Management of the Mill, the Mill used to recover loans advanced to the members from the salaries payable to such members and the amount so companylected was to be paid by the Management to the Society.
The companyplainant Sampat Shripat Lambate, the Secretary of the Dig vijay Mills Employees Cooperative Credit Society Limited filed a private companyplaint in the companyrt of the Metropolitan Magistrate, 6th Court, Mazagaon, Bombay alleging that the eight accused shown in that companyplaint misappropriated amounts belonging to the Society and thus companymitted an offence punishable under Section 147 b of the Maharashtra Cooperative Societies Act, 1960 and Section 409 read with Section 114 of the Indian Penal Code.
They can be disposed of by a companymon judgment here.
