Renowned CA Gurcharan Singh Syal acquitted of all charges in decade-long case
Jalandhar(The Uttam Hindu) : In a significant legal development, the Court of the Additional Chief Judicial Magistrate in Jalandhar has acquitted noted Chartered Accountant Gurcharan Singh Syal of all charges in a decade-long case involving allegations of cheating and forgery. The court held that the prosecution failed to establish the charges beyond reasonable doubt.
The case, arising from a 2016 FIR, had invoked Sections 420, 465, 466 and 468 of the Indian Penal Code in connection with alleged unauthorized representation in proceedings related to Krishna Real Estate Enterprises Pvt. Ltd.
After a detailed examination of the evidence, Judicial Magistrate Harpreet Kaur ruled that the prosecution could not substantiate key allegations, including claims of forgery in a vakalatnama allegedly signed by Syal in his capacity as a director. The court also observed that there was no material to prove any initial intention to cheat or any financial loss caused to the complainant company.
During cross-examination, the complainant admitted that he was neither a director nor an employee of the company and had no authorization to file the criminal complaint. The court further noted that no financial loss had been caused to the company by Syal.
The judgment also highlighted significant lapses in the investigation. The court observed that key directors of the company Satish Bala Malhotra, Sonica Malhotra and Monica Malhotra of the MBD Group were neither examined by the police nor were their statements recorded under Section 161 of the Code of Criminal Procedure. Statements of the complainant and the company’s administrator were also not recorded during the investigation.
The court further noted that Syal continued to remain a director of the company pursuant to orders of the Company Law Board (CLB) restoring his status. It recorded that Syal had appeared in the proceedings after being specifically summoned by name as a director and had not used any company seal or falsely claimed authority while signing the vakalatnama.
“The prosecution has failed to prove the guilt of the accused beyond any shadow of doubt,” the court stated in its judgment.
The acquittal followed a detailed defence presented by senior advocate D.S. Dyal, whose arguments were acknowledged by the court during the proceedings. The verdict effectively brings to a close nearly ten years of litigation against the Jalandhar-based professional.