Police refusing to arrest accused in f.i.r

first of all it's the prerogative of the police to decide whether to arrest or not. if you think police is not deliberately arresting the accused and not investigating property (and palpably delayed). You an approach the local magistrate u/s 156(3) who would make the necessary directions to ensure a free/fair and impartial investigation. 

The magistrate is not empowered to interfere with the investigation by police.but in an appropriate case where after registering the crime if no expeditious investigation for unexplained reason was done, the magistrate or the high court on satisfying the ground, may direct completion of the investigation within a reasonable time. See AIR SC 1991, 1260 

While investigation is in progress the court cannot direct the investigation agency to submit report in accordance with the court's own view. See also SCC 2003 (2) 649. 

Dear querist I agree with Mr. Shailendra's view, he is rightly said, court has not empowered to interfere with the investigation by police or court can not force or pass any order to arrest any accused, it is police duty, if you have problem in this, you can file an RTI application before police authorities and ask the progress of the case. feel free to call

Dear querist, i advise you to go with the investigating officer and ask him the progress of case, if he refused to say ask him under rta act, if the investigating agency needs any infromation provide for peedy investiagtion 

You have the right to ask the stage of investigation from police, if not entertained properly you may file application u/s 156(2) to the magistrate..

Arrest is the pregorative of police. You have right to file FIR but not the right to get a person arrested according to the sweet will. A sane police officer always collects enough evidences against the accused person before arresting him. It appears from the case reference that the allegations relate to a white collar crime.Such crimes takes a considerable period in their commission and hence sufficient time in linking all the chains of criminals during the investigation. Police generally does not make arrest in such cases before being satisfied of the involvement of the others because arrest is the stigma. You can,however, file a petition before the local magistrate to direct the I.O to submit the progress report of the investigation.