SHAJU K NAIR MANAGING DIRECTOR CLARIYA MARKETING SERVICES PRIVATE LIMITED Vs. S L V STEELS & ALLOYS PVT LTD

JUDGEMENT

(1.) Heard the arguments of the petitioners' counsel . In spite of service of notice, the respondent did not choose to appear and contest the matter.

(2.) The parties are referred to as per their ranking before the trial Court for the purpose of convenience.

(3.) The factual aspects of this petition is that, the respondent herein is the complainant who has filed a complaint under section 200 of Cr.P.C., making the allegation that it is a corporate body and is duly represented by the authorized signatory and the complainant/ respondent is engaged in manufacturing and supplying iron ore. The accused No.1 who is the 1s t petitioner herein is the managing director and the accused No.2 who is the 2nd petitioner herein is the director of the accused company. It is further alleged in the complaint that both of them had represented and that they are dealing in trading of iron ore and would procure iron ore on behalf of the complainant and supply the same. Both the accused had demanded for payment of advance amount and accordingly the complainant paid a sum of Rs. 62,32,100/- by way of two transactions for a sum of Rs. 44,88,050/- and Rs. 22,44,050/- on the same day i .e. , on 20.5.2011 through his banker.