Judicial magistrate first class power under 306 crpc

Under Section 306 CrPc the power is different between CJM , MM and JMFC as the word “investigation” is not there with the power of JMFC. Now, if in a given a case the case is exclusively triable by the JMFC and the case is being investigated by the police, is JMFC competent to grant pardon to one of the accused PENDING POLICE INVESTIGATION in the interest of Justice? Even though the word investigation is not there for exercising that power under 306?