The Calcutta High Court on Friday quashed a criminal case against NRI industrialist Lord Swraj Paul and his son Angad Paul in relation to shares of Caparo Maruti Limited (CML).
Justice PN Sinha quashed the FIR filed by Machino Finance, a company held by Lord Paul's relative M D Jindal, at Alipore police station in Kolkata.
Machino Finance had alleged in the FIR filed in April 2005 that shares held by it and Machino Plastic in Caparo Maruti Limited, which manufactures steel sheets for Maruti Udyog Limited since 1994, were illegally removed from the company's statutory register.
The Caparo group had moved an application in the court seeking the quashing of charges brought against Lord Paul, Angad Paul and two officials of the company.
Caparo group's counsel Pradip Ghosh, Debasish Roy and Shamsher Ali told Justice Sinha that Lord Paul had nothing to do with the company and neither did he hold any official position nor had any shares of the company in his name.