Q537
A' has engaged the services of 'B', a financial planner, to make investments on his behalf. 'A' remits Rs. 10 lakhs to 'B' asking him to purchase stocks in company 'X'. 'B' finding investment in company 'Y to be possibly more lucrative invests the money in purchasing its shares. Company 'Y' goes into liquidation resulting in losses. Here:
A.
B' is guilty of criminal reach of trust
B.
B' is guilty of dishonest misappropriation
C.
B' is guilty of cheating
D.
B' has not committed any offence
AnswerAnswer: Option D
Solution
Answer: Option D
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