NEW DELHI: The Delhi High Court has discharged senior Income Tax (I-T) Department official Yogendra Mittal and set aside corruption charges against him in the Stock Guru India scam.
Allegations were made that Mittal demanded and accepted illegal gratification from an associate namely Ulhas Prabhakar Khaire of the scam. The court noted that the material collected during the investigation by the Central Bureau of Investigation (CBI) was insufficient to frame charges against the official.
Justice Sudhir Kumar Jain said that charges against Mittal under Section 120B IPC, along with Sections 7 and 13 (1) (d) of PC Act, and substantive offences under Sections 7 and 13(1)(d) punishable under Section 13 (2) of PC Act, 1988, is set aside.
The High Court, in its judgement, concluded that Mittal stands discharged for the alleged offences. According to the case, a complaint made by the Economic Offence Wing (EOW) Crime Branch, Delhi was registered on December 27, 2012.
This was in relation to the alleged duping of lakhs of investors by floating a company called Stock Guru India and promising them 20 per cent returns on their investment in one month.
The CBI filed a case based on the alleged disclosure statement of Ullas Prabhakar Khaire, who accused Mittal of demanding illegal gratification during custodial interrogation, claiming Mittal promised favourable treatment in exchange for money.