Criminal case
Guest
(Querist) 04 March 2012
This query is : Resolved
Can a criminal case be slapped against a trader/shopkeeper/banker/ non-finance banks for selling or buying gold or giving loan against gold without asserting the source of money or gold?
s.subramanian
(Expert) 04 March 2012
yes. *If they are stolen ,it would amount to an offence under IPC for receiving stolen goods.
Guest
(Expert) 04 March 2012
The question seems to be a vague one.
Unless you prove that the gold is stolen, how you can slap the trader/bank, etc., with a criminal case against him to buy, sell or lend money against gold? If you do that without any proof to that effect, the case is sure to bounce back on you.
Shonee Kapoor
(Expert) 04 March 2012
Buying/ Selling and trading Gold is not a crime, however knowingly buying the stolen gold is a crime.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Guest
(Querist) 04 March 2012
Let me elaborate. A group of burglars were caught recently near Banjara Hill Hyderabad while depositing those gold to a reputed non-banking financial house to obtain loan.The agency had no hassles under the existing provision to accept gold whether they are stolen from rich famous notorious of even from places of worships where such golds and Jeweleries simply rain as offering from mostly corrupted people of this country.
Now is it not a crime to accept such gold etc from a person whose credentials are not known, no sales receipts are accompanied?
What was unearthed further that those burglars was returning the loan amount routinely and getting back those golds with proper receipts from the banks etc. Thus with the help of those banks stolen golds were being converted into while money?
The question of proving that the gold was stolen engaging another advocate and wait eternally for the sleeping police and the lordships is not the issue here I am trying to understand why such a void is there at the first place . There must be some safeguard which will call for much more discretion on the part of those money lending banks /financial services . We can't expect Team Anna to fight for us.
Guest
(Expert) 04 March 2012
Dear Haridas,
You got very simple answer to your original query, which could have satisfied you.
But from your supplementary hypothetical and academic query of trying to understand about the nitty gritty of the waiting for the so called eternally sleeping police or the lordship taking due time in the legal process, the following questions do arise:
1) Did the incident happen to you personally, or
2) Have you decided to file a criminal case against the burglars at your own level, or
3) Are you the advocate for any party involved in the case, or
4) Have you any way out to awaken the eternally sleeping police, or
5) Have you any authority to direct any judge to hang the trader without going through the process of law?
IF NOT, but knowing some facts about the case, you could better have assited the law & order maintaining authorities to expedite the case.
If you don't have any valid answer to the above questions, you are free to term me as an authoritarian on account of raising such questions on your hypothetically innovative query, as these questions may not be of your liking or taste and you are in the habit of casting aspersions on the answerers who try to reply your hypthetical qeries.
Guest
(Expert) 04 March 2012
Dear Haridas,
For your kind information, neither I am follower of Bush, nor I am in favour of terrorism. I am also deadly against corruption. Had you known my background about me, my views against corruption and against the rash acts of Bush, which I openly expressed in several forums, you would not expressed like that.
Anyway, wish you all success in your ventures, as listed above. But, to be frank, I found in several of the above issues, you did not mention about any proof in favour of your assumptions.
R.K Nanda
(Expert) 04 March 2012
Yes, if said items are stolen.
