SUJANA UNIVERSAL INDUSTRIES LTD. Vs. UCO BANK

JUDGEMENT

(1.) This Criminal Original Petition is filed seeking to call for the records in C.C.No.835 of 2016 on the file of the VII Metropolitan Magistrate, George Town, Chennai and quash the same.

(2.) For the sake of convenience, the petitioners and the respondent will be referred to as "accused" and "complainant" respectively.

(3.) 3.1 It is the case of the complainant that the accused availed an Irrevocable Inland Letters of Credit facility from the complainant for purchase of steel products from Tejaswini Engineering Private Ltd. on 24.03.2015 for sums of Rs.5,02,80,000/- and Rs.9,99,99,901/-.