B PRINCE ROBERT Vs. SHREE FINANCE

JUDGEMENT

(1.) THE petitioners who are the accused in C.C.No.9525 of 2005 on the file of the learned III Metropolitan Magistrate, George Town, Chennai and who are facing prosecution for alleged offence under Sections 406, 418, 420 r/w 34 IPC have approached this Court to quash proceedings pending against them in the said case.

(2.) THE respondent herein has preferred a complaint informing that the 1st accused approached him and induced him to finance the purchase of a vehicle bearing Registration No.TN-43Z-1053 under a hire purchase agreement. THE respondent and the 1st accused had entered into a hire purchase agreement which stipulated the repayment of the funds advanced by the respondent/complainant in 24 monthly installments. THE accused 2 to 4 had guaranteed the repayment by the 1st accused under such agreement. THE 1st accused has under the agreement effected payment of a sum of Rs.1,47,500/- and a balance amount of Rs.69,700/- was due to the respondent/complainant. Upon the failure of the 1st accused to repay the balance amount, the respondent/complainant has preferred the complaint stating that all the accused were liable to effect repayment and the accused neither made the payment nor surrendered the vehicle in keeping with the hire purchase agreement. On the one hand, the complaint states that the accused had sold the vehicle to a third party and the same has been dismantled and sold as scrap, while on the other, it states that the accused were trying to sell the vehicle to a third party without the knowledge of the complainant by fabricating and creating false documents. On these averments, offences under Sections 406, 418, 420 r/w 34 IPC stand alleged.

(3.) HENCE, the Criminal Original Petition is allowed. Accordingly, the proceedings in C.C.No.9525 of 2005 on the file of the learned III Metropolitan Magistrate, George Town, Chennai shall stand quashed. Consequently, the connected miscellaneous petition is closed. CRL.O.P.No.10856 of 2006: