SUNIL RATNAKAR GUTTE Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard.

(2.) Rule. Rule made returnable forthwith. Heard finally by consent of the learned counsels appearing for the parties.

(3.) The petitioner is one of the accused in Crime No.0158 of 2018 registered for an offence punishable under Section 420 of the Indian Penal Code against him on the basis of the complaint lodged by respondent no.8. The respondent no.8 has alleged that the petitioner, as Managing Director of VAG Buildtech Limited, formerly known as Sunil Hitech India Infra Pvt.Ltd., after having purchased steel and cement from respondent no.8 at different times, and also having furnished corporate guarantees for paying the items purchased from respondent no.8, failed in his promise and committed default in making proper payments to the respondent no.8. According to respondent no.8, the petitioner purchased steel and cement worth 1,07,88,262/- from him and Rs. 1,07,88,262/- from him and the purchase was made at Bathinda. Respondent no.8 further alleged that out of the said amount of 1,07,88,262/-, the Rs. 1,07,88,262/- from him and petitioner paid some amount and an amount of 82,46,180/- is Rs. 1,07,88,262/- from him and still outstanding against him. The respondent no.8 has alleged that not making payment of such huge amount displayed dishonest intention on the part of the petitioner and the persons, who signed the corporate guarantees on behalf of the Company and therefore, respondent no.8 filed a complaint against the petitioner and other persons. This is how the offence punishable under Section 420 of the Indian Penal Code vide FIR No. 0158 of 2018 came to be registered against the petitioner and some other persons at Bathinda.