INSTRUMENTATION LTD. A COMPANY REGISTERED UNDER COMPANIES ACT, 1956 WITH ITS REGISTERED OFFICE AT JHALAWAR ROAD, KOTA - 324005 RAJASTHAN AND OTHERS Vs. ABB LIMITED A COMPANY UNDER COMPANIES ACT., 1956 HAVING ITS REGISTERED OFFICE AT : 2ND FLOOR,

JUDGEMENT

(1.) PETITIONER No. 1 - M/s. Instrumentation Limited, a Company registered under the Companies Act, 1956 - having its registered office at Jhalawar Road, Kota - 324 005, Rajasthan, is arrayed as accused No. 1. Petitioners 2 to 7 are arrayed as accused 2, 5, 6 to 9 in C.C. No. 26582/2011. pending trial for an offence punishable under section 138 of the Negotiable Instruments Act (for short, 'the Act'). They have sought for quashing the proceedings. I have heard the learned counsel for parties.

(2.) THE learned counsel for petitioners would submit that there are no averments in the complaint to invoke section 141 of the Act. Petitioners 6 and 7 are contractual Directors, petitioners 2 to 5 are nominated Directors. The dispute between petitioner No. 1 and the respondent has to be resolved by taking recourse to arbitration in terms of the purchase orders placed on behalf of petitioner No. 1.

(3.) THE learned counsel for respondent would justify the issuance of process.