REPL ENGINEERING LIMITED AND OTHERS Vs. ICDS LIMITED REPRESENTED BY ITS G.P.A. HOLDER AND DEPUTY GENERAL MANAGER AND ANOTHER

JUDGEMENT

(1.) PETITIONERS arraigned as accused Nos. 1 to 5 in C.C. No. 128/2002, pending trial for offences punishable under Sections 406, 409 and 420 of IPC r/w Section 34 of IPC on the file of Principal Civil Judge (Sr. Dn), have filed this petition to quash proceedings pending therein.

(2.) I have heard Sri M.G. Kumar, Learned Counsel appearing for petitioners and Sri Udaya Holla, learned Senior counsel appearing for I respondent and learned Government Pleader appearing for II respondent.

(3.) THE I respondent is a registered financial Institution engaged in extending credit to various Industrial units. It's head office is situated at Manipal. During the year 1995, I respondent imported six wind operated electricity generators bearing Nos. 3265542, 3265543, 3265544, 3265547, 3265548 and 3265549 from Denmark. Petitioner No. 1 M/s REPL Engineering Limited is represented through its Chairman and Managing Director, Petitioners -2 to 4 are Directors and petitioner No. 5 is the Company Secretary. The petitioner No. 1 entered into a lease agreement on 29.9.1995 with I respondent -Industrial Credit and Development Syndicate Ltd., (for short ICDS) and obtained on lease above said wind operated electricity generators.