KUMAR Vs. STATE

JUDGEMENT

(1.) THIS is a petition seeking for a direction to quash the proceedings in Crime No.2 of 2006 on the file of the Inspector of Police, Central Crime Branch, Tirupur Police Station, Coimbatore District.

(2.) THE learned counsel for the petitioners submits that petitioners 1 and 2 are the Branch Heads of M/s.Karvy Stock Broking Ltd. and the third petitioner is its Vice President. It is alleged in the complaint that the petitioners are stock brokers and the second respondent/defacto complainant allowed them to trade in his account and in such circumstances, the defacto complainant sustained a loss of Rs.8.7 lakhs. It is further alleged that by threat, the petitioners have received the signature in the letter of confirmation from the defacto complainant and misusing the same, threatened for payment of money by creating certain forged entries in the business transactions.

(3.) I have perused the materials available on record and heard the submissions made.