The case of the prosecution is that the complainant/ informant entered into a partnership business with petitioner no.1 [Kali Prasanna Kundu] in the name of Vananchal Paper Products at Tupudana Industrial Area, Ranchi and the complainant/ informant had entrusted petitioner no.1 the work for allotment of the piece of land. The petitioner has been allotted an area of 12,000/- Sq. Feet by the RIADA for setting up the unit and the current account has also been opened in the Punjab National Bank, Mahabir Chowk, Ranchi. The said current account runs in the name of two partners i.e. informant/complainant and petitioner no.2. The informant deposited the first instalment amount through Demand Draft on 11.10.2001. However, the informant got an information that petitioner no.1 had earlier made a partnership deed with petitioner no.2 in the year 2000. Thereafter the petitioner no.2 handed-over notice of retirement to the petitioner no.1 with respect to dissolution of partnership firm with effect from 01.04.2001. The amount of Rs.3,54,038/- was paid by the complainant/ informant and the petitioner no.1 also received a sum of Rs.80 Lakhs for relinquishing his right, title and interest over the Vananchal Paper Products. The complainant /informant entered into possession allotted by RIADA and invested more than Rs.50 Lakhs in it.
