420 act

I was the managing director of a company. for expansion i offered one share and collected money from one of the relative of a director.while collecting the amount there were no shares free in our company. my CA advised me that we can apply for more shares later. and i issued a receipt for the investment. but there was a dispute among the relative of the investor who is one of the director with me and the investor filed a 420 case against me and three share holders. the company has four directors and 4 share holders but they filed case selectively by avoiding two directors and other share holders. the minutes of the company has been destroyed by the opposite team. in this case one of the accused died. and the police filed the report by avoiding two share holders. now i am the only accused. in this case there was no intention for cheating ... here is it possible to file case against selective authorities..by saving their dear ones. now the company is not functioning..please let me know whether 420 section will be standing in this case.