HARSH SEHGAL Vs. STATE

JUDGEMENT

(1.) The instant batch of petitions has been filed on behalf of the petitioners under Sec. 482 of the Code of Criminal Procedure, 1973 (hereinafter "Cr.P.C."), seeking setting aside of order dtd. 5/2/2022 passed by learned Additional Sessions Judge, Saket Courts, Delhi (hereinafter "ASJ"). BRIEF BACKGROUND

(2.) As per the contents of the complaint, the brief facts of the case leading to the instant matter are that the complainant/respondent no. 2, Galaxy Datamatics Pvt. Ltd., averred that the accused no. 1, M/S Takshila Retail Pvt. Ltd., earlier known as M/s Blues Clothing Pvt. Ltd., accused no. 2, Dinesh Sehgal and accused no. 3, Harsh Sehgal, approached the respondent no.2 for a short-term loan of Rs.5.00 Crores for meeting short fall in cash flow and for immediate project requirements for implementation of various contracts.

(3.) A short-term loan agreement dtd. 9/6/2011 was entered into by the parties and respondent no. 2 advanced the loan of Rs.5.00 Crores to the accused for a period of three months at interest of 24% per annum. It was stated that the parties also agreed for execution of an irrevocable and unconditional personal guarantee of the accused no. 2 and 3, jointly and severally. It was further agreed that the accused were to pay a penal interest of 3% per month in case of default of repayment.