[Navi Mumbai] [Last Update: 09/05/2024]
In a significant development, Mr. Shashi Kant Chaurasia owner of Spider Realty has been apprehended by law enforcement agencies for allegedly duping the advertising firm, MDS Digital Media Private Limited, of a sum of Rs 4,00,000/-. Jain Law Partners LLP represented MDS Digital Media in the litigation against Shashi Kant Chaurasia.
Mr. Chaurasia was convicted by judgment dated January 10, 2024 of Judicial Magistrate First Class, at Belapur (“The Judgment”) in Summary Criminal Case No. 2358 of 2022 filed under Section 138 of the Negotiable Instruments Act, 1881. Under the Judgment, court convicted the offender Mr. Chaurasia under Section 255 (2) of the Code of Criminal Procedure 1973 for offenses punishable under Section 138 of the Negotiable Instruments Act, 1881, and imposed a fine of Rs. 4,00,000/- (Rupees Four Lakhs Only) to be paid to the Applicant within two months from the date of pronouncement of the Judgment.
However, despite the lapse of the stipulated period of two months, Mr. Chaurasia failed to fulfill the direction for the payment of the prescribed fine. Consequently, as per the provisions of the law, a warrant for the execution of the sentence was issued against Mr. Chaurasia, which led to his eventual arrest.
Mr. Abhishek Singh, MD & CEO of MDS Digital Media, expressed his gratitude to the law enforcement agencies for the swift action. He added “as the legal proceedings unfold, MDS Digital Media remains steadfast in its dedication to serving its clients with integrity and trustworthiness. The company extends its gratitude to the authorities for their swift action in apprehending the suspect and looks forward to a resolution that upholds justice.”
Mr. Kunal Lunawat, Co-Founding Partner of Jain Law Partners LLP said “the arrest of Mr. Chaurasia sends a strong message to perpetrators of financial crimes and highlights the unwavering resolve of law enforcement agencies to combat such illicit practices. It underscores the importance of accountability and the imperative need to ensure the protection of businesses from fraudulent schemes.”
Watch this space for further updates of this case.
