The Kozhikode City police have registered a first information report (FIR) to investigate a complaint by a veteran businessman from Kozhikode, alleging that his two sons “unlawfully” secured major shares of his business ventures.
In his petition to the Elathur police, the man, presently undergoing treatment for Parkinson’s disease, alleged that the shares were transferred by forging his signature and other legal documents. He also claimed that his thumb impression was forcibly taken.
The man, who presently serves as the managing director of his group of companies, claimed that he lost shares worth ₹200 crore in 2019. He further alleged that the illegal transfer affected around 70% of his shares across five companies.
As the alleged property transfers took place before the Bharatiya Nyaya Sanhita came into effect, the case was registered under Sections 420 (punishment for cheating and dishonestly inducing someone to deliver property), 465 (punishment for forgery), and 471 (punishment for the use of forged document) of the Indian Penal Code. The complainant also approached the company registrar to cancel all “illegally created” documents.
Meanwhile, police sources revealed that the complainant’s statement had already been recorded, and the case would be referred to the Crime Branch due to its connection to the misappropriation of properties worth ₹200 crore. A request had already been submitted to the police for further action based on the final orders of the State Police Chief, they added.
Published - October 07, 2024 07:49 pm IST
